"Auto-Close at Target" is an automated feature used by traders at prop firms to manage risk and secure profits. This feature automatically closes a trading position once it reaches a predefined profit target, which the trader sets based on their strategy. This feature is particularly useful in fast-moving markets, where timely execution is crucial. By predetermining stop-loss and take-profit points, traders can manage their exposure to risk. This feature ensures that profitable trades are exited at planned levels, thus avoiding the potential for losses due to market reversals or emotional decision-making. It also enhances efficiency by reducing the need for constant market monitoring, allowing traders to focus on other strategic aspects of trading while ensuring that profit targets are consistently achieved. By automating the process, the feature also helps in maintaining a consistent trading approach. Proprietary firms offering an Auto-Close at Target feature are outlined below:
