What is stop loss

A Stop Loss (SL) is a risk management tool which aims to add protection to your investment.

It is an instruction to close a trade at a specific rate, if the price is going against you, to prevent additional losses.If the market reaches your requested rate and you have lost the predetermined amount, the Stop Loss will trigger and automatically close your position.

What is take profit

Take Profit (TP) is an instruction to close a trade at a specific rate, if the price is going in your favour,to ensure the profit is realised and goes to your available balance.If the market reaches your requested rate and you have gained the predetermined amount, the Take Profit will trigger and automatically close your position

A Take Profit is mandatory on every position with the exception of non-leveraged BUY positions.

You can set your Take Profit according to a specific rate in the market, or as a monetary amount

How do I set the stop loss

‣ Click on STOP LOSS to set your SL according to a specific rate in the market will trigger and close the position automatically.

‣ You can also click the AMOUNT button to view and set the SL as a monetary amount

General introduction to sirix

Sirix is a trading platform that allows you to trade cryptocurrencies and other digital assets.

In this series of tutorials you will learn how to use Sirix

General introduction part 2

General introduction to the trading platform and basic presentation of the navigation bars and how to set-up a trading chart

Defining Stop-Loss and Take-Profit instruments along with setting up pending trades

General introduction part 3

General explanation of the trading interface of the platform.

In this video the different types of charts, drawing tools and indicators are presented along with the different menus and their usage.

Support and resistance levels

The support and resistance are undoubtedly two of the most highly discussed attributes of technical analysis and they are both covered in this lesson.

Bollinger bands

The purpose of Bollinger Bands is to provide a relative definition of high and low prices of an asset. By definition, prices are high at the upper band and low at the lower band.

Relative strength index

The relative strength index (RSI) indicates whether an asset is overbought or oversold.

Moving average convergence divergence

MACD is used to understand the momentum and its directional strength by calculating the difference between two time period intervals, which are a collection of historical time series

Double top bottom pattern

A double bottom pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action.

Fibonacci retracement

The Fibonacci retracement tool plots percentage retracement lines based upon the mathematical relationship within the Fibonacci sequence. These retracement levels provide support and resistance levels that can be used to target price objectives.

Technical analysis structure

Detailed but simple explanation on how to structure and adapt a trading chart to present the most accurate trading information in order to take the most accurate trading decision.

In this series of tutorials you will learn how to use Sirix