Take Profit (TP)
Last updated 19/05/2023
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.
- Virtual Market - Virtual order that triggers a real order to execute at market price based on other participants' bids.
Combining the SLX module, with multiple TP orders can optimize profits while adjusting Stop Loss based on executed TP's.
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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