Take Profit (TP)
Last updated 08/06/2023
TP module creates one or more Take Profit orders automatically.
You can preview and move the Take Profit on the chart when creating a position.
- ✅ Enabled After averaging, TP orders will be cancelled and new ones will be created with an increased quantity at the same distance as before averaging.
- 🚫 Disabled After averaging, TP will be canceled and new TP orders will be created with an increased quantity at the same price as before averaging.
- 1.A Long position had one TP order at +1% level from its price, prior to averaging.
- 2.After averaging, the position price dropped, and TP distance increased by 3%.
- 3.The system cancels previous TP order and creates a new one with an increased quantity, bringing the distance to position level back to +1%, as before averaging.
Position's total token quantity determines percentage of token quantities in orders. TP price levels are set as % of position price.
Token quantities are evenly distributed by default.
The final order's quantity is calculated automatically and cannot be modified.
- 1.Open currency pair chart for opened position;
- 2.Select "LONG" or "SHORT", based on opened position direction
- 3.Select "1" order (set by default)
- 5.Enter price, if necessary
- 6.Enter order amount or volume as % of total position
- 7.Switch to "Close/reduce"
- 8.Click "Close LONG" or "Close SHORT"
The following restrictions must be kept in mind when placing an order on an exchange:
- 1.minimum number of tokens per order
- 2.maximum number of tokens per order
- 3.minimum placement price
- 4.maximum placement price
- 5.minimum order size (price x quantity)
- 6.maximum order size (price x quantity)
- 7.the number of executed orders relative to the number of cancelled orders must be greater than 0.01%
The first 2 limitations are the most common.
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