Take Profit
The TP module automatically creates one or more Take Profit orders
When creating a position on the chart, a preview of Take Profit is displayed with the ability to move it with the mouse.
If enabled, orders closing the position will be placed at the specified levels.
- 🚫 DisabledAfter averaging the positions, TP orders will be canceled and created with an increased quantity at the same price as it were before averaging.
- 1.Prior to averaging the Long Position, there was 1 TP order at the level of + 1% of the position price.
- 2.After averaging, the position price is changed and the TP level to the position price became +3%.
- 3.The system will cancel the TP order and create a new with an increased amount so that the distance to the position level becomes equal to +1%, as well as before averaging.
- Limit
- Stop order
The number of Take Profit orders
It is advantageous to use several Take profits with the SLX module, which creates and rearranges Stop loss if TP is executed.
Take profit price levels in % of the position price and the percentage of the number of coins in orders of the total number in the position.
By default, the number of coins in orders is distributed evenly.
The amount in the last order from the list is calculated automatically and cannot be edited.
In the order creation form, you need to switch to Decrease position (to the right of the order creation button)
You only need to specify the amount in orders so that the total amount in the order TP is equal to the amount in the position. It is convenient to use the slider % of the total number in the position.
For example, in a position there are 100 coins and you want to divide by 3 TPs in equal shares, then you must create 3 orders with 34, 33, 33 coins.
It is important to remember that if you have already set take profits, for example, using the TP module, then before setting new ones manually, you need to cancel the old take profits
For the market, you must follow the rules of placing an order with a minimum size of $. Each order cannot be less than $10 (for a spot market) or 1 contract (for a futures market).If this rule is not respected, the system will not be able to set your chosen number of TPs, and will place the entire volume at the last TP.(For example: you took an asset of $15 and placed 2 TPs in equal portions, 50% each. Each TP will be equal to 7.5$ (conditionally, because the price changes and the amount of TP also, it should be taken into account), the system will try to place 2 TPs of 7.5$, but this will violate Binance rules, and the TP number 2 will be placed in the whole position volume.
Any questions? We can help in our Telegram Chat:
Last modified 2mo ago