Take Profit 

Take Profit is taking profit/keeping profit. This is a Take Profit Order. It is used to close an open position when the price reaches a certain price level, the order is automatically executed. And the profit will go into the balance of the trader.

Take Profit Order (TP) is considered as a form of Stop Limit Order. It is intended to close a profitable position when the price reaches the order level. (Whether on the Buy side or Sell side)

How does Take Profit Order work?

The working process for Take Profit orders is similar to the Limit Order system. When the market price reaches the set price, it will be converted to the current market price or better price and immediately close the position.

For example, you Buy 1 Lot EURUSD at 1.17654 and you want to take profit of 300 pips at 1.17954, you place a Take Profit order at that price level. and later The price moves to the set price level. Your position will be closed and you gain profit into the balance.

(In some cases, the price may occur slip page at that moment, resulting in the closing price of the position that does not match the order set)