The Take Profit instructions are optional and you can set them up once your trade is already open. You can set up your Take Profit according to a specific market rate. The only way to make a profit is to get out of your position completely and then buy it again. You can't partially sell your shares and keep a certain amount, but you have to sell all your shares in that order in order to sell.
You can decide to specify a Take Profit after opening your trade and it's completely optional. This tool is mainly used by short-term traders on etoro for risk management. This is because they can automatically exit a trade as soon as their intended profit target is reached and avoid running the risk of a possible market crash. In a nutshell, Take Profit orders are configured on eToro to automatically close an open position for profit when it reaches a specific amount.
Once you understand the principles behind Stop Loss and Take Profit orders, you can use your eToro account to trade knowing exactly what your best and worst results will be. Both Stop Loss and Take Profit orders are basically instructions from the trader (you) to the broker (eToro) on when to close trades to manage risks.
