A take profit automatically closes open positions when the price reaches a specified level. When you can't monitor open positions at any time, you can use take-profits to lock in profits. For example, suppose you hold a long position in XYZ Company at 109.58 and want to close the position at a profit when the price reaches 110.00, you can set that price as the take profit position. Once the price reaches 110.00, the system will close the open position and your profit is guaranteed.
