Arbitrage order (also known as take-profit Order, TP) is set based on your exit price.
Even better, arbitrage orders are automated in MT5, so you don’t have to get your hands on them.
Just as stops are designed to contain losses;
Arbitrage orders, on the other hand, are set according to the level of profitability.
Carry orders will automatically close out the position and cash out some profits at the price specified by the trader.
If you are long EUR/USD at 1.1740 and want to close out the arbitrage when the price rises to 1.1770, you must place the arbitrage order after opening the position.
If the carry is set at 1.1770, the carry order will help you automatically close the position when the price reaches 1.1770, ensuring that your profits in the market will be kept in your pocket.
