To provide users with more advanced trading experience and make it easier to manage risk, AAX has implemented another important upgrade to its trading platform. As part of the last release (20-7-2020), users can now apply Stop Loss (SL) & Take Profit (TP) to their positions.
An SL is a tool that enables traders to minimize their loss when the market hits a certain price, set by the user, the position will be closed with a swift market order. A TP is an opposite. This tool helps traders get the most out of a trade, by locking in profits once a rally is followed by a significant downturn. On AAX, both tools can be used at the same time.
This feature makes trading volatile assets, such a s cryptocurrency, significantly easier, and frees traders from having to constantly monitor the market.