Take Profit Limit
This order type is a variant of a take profit order, wherein an asset is divested as a limit order upon reaching a predefined profit margin.
Just like a regular limit order, if during the execution process the order is partially filled due to a lack of liquidity at the take profit price range, the order will remain active until more liquidity enters the market or it is canceled. One of the main drawbacks of a take profit limit order is that it does not adjust based on sudden movements, and the price can shift below the selling price.
How it is usedStephan placed a take profit limit order buying AXO tokens at $10 each. In the weeks that followed, the price rose and the AXO token is reaching the trigger point Stephan set of $15 (50% profit), wherein his take profit limit order will begin selling. At $15, the take profit limit order works as a minimum sell price for the transaction, which was decided when the order was first deployed.
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