What is a Take Profit Order and How to Use it on dYdX Exchange | dYdX Academy

This video covers Take Profit Market and Take Profit Limit orders on the dYdX platform.

Contents:

0:00 Introduction
0:16 Take Profit Orders
0:58 Take Profit vs Stop Orders
1:27 Market and Limit Types
1:56 Placing a Take Profit Market Order
2:39 Placing a Take Profit Limit Order
3:06 Key Takeaways

📈Take Profit Order 📉
A conditional order type that specifies the price at which to close out an open position for a profit.

Links:

dYdX Documentation on Order Types:
https://help.dydx.exchange/en/articles/5108526-selecting-order-types

Disclaimer:

All content is for educational purposes and does not constitute investment advice.
dYdX Academy is a dYdX Grant initiative and does not represent dYdX Trading or dYdX Foundation.