Take profit order looks like very much stop-loss order. It is not as important as a stop-loss order. Nevertheless, it helps you realize the profit on the diagram and put it in your case in a situation where you can guess the amount and the direction of the parity. That way, when parity gets to the level you want, you can close the situation and get the profit. Especially, when you are not on the computer or you can’t follow your investments, it can be your biggest help before your parity goes down after it gets to the level you want.
Professional traders don’t use take profit order so often. Instead of this, they approach their stops at the back step by step when the prices go positively. After a while, their stop points pass the points they take a position, and that way, they guarantee profits in a certain percentage. They even use stop orders which follow and carry the stop orders automatically.
Take Profit order is a perfect helper if you say “I want to take my profit and leave when it is going in a positive way and before the prices go back. We will view all the details of the usage of this order in our lessons.