You open the Bitcoin BTCUSD instrument on Mitrade. Bitcoin is trading at AU$107,214. You believe the price will rise over the next week as institutional buying continues. You set your position size at AU$2,000 of exposure, which requires AU$1,000 in margin at 2:1 leverage. You set a stop loss at AU$103,000, which limits your maximum loss on this trade to approximately AU$400 if you are wrong. You set a take profit at AU$115,000, targeting approximately AU$1,600 in profit if the trade goes your way. You confirm the position.

If Bitcoin reaches AU$115,000 before your stop loss is triggered, the position closes automatically at your take profit and your account is credited. If Bitcoin falls to AU$103,000 first, the stop loss closes the…