Auto-close allows you to automatically close a position when a specific price is reached.
This helps traders manage risk and lock in profits without monitoring the market continuously.
Auto-close includes two types of conditions.
Stop Loss
A Stop Loss automatically closes your position when the price reaches a specified level.
This helps limit potential losses.
Example:
You open a long position at $30,000 and set a stop loss at $29,000.
If the price drops to $29,000, your position closes automatically.
Take Profit
A Take Profit automatically closes your position when the price reaches a profit target.
Example:
You open a trade at $30,000 and set a take profit at $32,000.
Your position closes automatically when the price reaches that level.
When can Auto-close be set?
You can add or modify Auto-close conditions:
During trade confirmation
From the Position Details screen