Stop loss means that when the loss of an investment reaches a predetermined amount, it will cut the position in time to avoid further loss. Its purpose is to limit the loss to a small range when the investment goes wrong. For example, the price of gold you bought that day is 1050, and you set it to 1040. When the price falls to this point, you will automatically close the position and reduce the loss.

Profit means that when the price is favorable to you (when gold appreciates), you are profitable on the books, but only on the books. If the market reverses at this time, your profit will be less and less, and you will eventually lose money. In order to cash in the book profit, it is necessary to close the position and take profit. Take profit can be closed manually (here, the gold bought before selling, backhand opening), or it can be a preset take profit order. Take profit is a limit order. When the price reaches your price limit, it will automatically become a market order and immediately close the position at the market price. For example, if you sell at 1050, and you set the take profit at 1055, it will automatically close the position when it rises again.