What is take-profit?

Take-profit is an order to automatically close a position when it reaches a target profit level. For example, if a buy position is entered at 1.2000 with take-profit at 1.2100, the position will automatically close once the target is reached. This allows traders to secure profits without continuously monitoring the market. Take-profit, along with stop-loss, is a fundamental tool for managing risk and reward. MIM offers user-friendly features for setting profit targets to support efficient trading.