# Take Profit (TP)

TP module creates one or more Take Profit orders automatically.

<figure><img src="https://1577882158-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIQGRpWSjJ8uFGR3mXSA2%2Fuploads%2FvX3RCraB4WZJbkqWUFLc%2Fimage.png?alt=media&#x26;token=9c356f18-5a58-4dd8-9d64-978c65516cf7" alt="" width="375"><figcaption></figcaption></figure>

You can preview and move the Take Profit on the chart when creating a position.

{% embed url="<https://www.youtube.com/watch?v=My3wiAEWGFo>" %}

## Settings

<figure><img src="https://t24536365.p.clickup-attachments.com/t24536365/ef5df289-568e-4532-844d-8f13b3bece96/image.png" alt="" width="375"><figcaption></figcaption></figure>

### 1. Level Reordering

* ✅ 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.

#### TP reordering example:

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.

### **2. Order type**

* [**Limit** ](https://docs.finandy.com/trading/create-order-grid/order-types/limit-order)- an order placed at a specified price.
* [**Virtual Market**](https://docs.finandy.com/trading/create-order-grid/order-types/market-order) - Virtual order that triggers a real order to execute at market price based on other participants' bids.
* [**Virtual Floating**](https://docs.finandy.com/trading/create-order-grid/order-types/floating-order) - Auto-adjustment limit order for more profitable exits in high-spread coins.
* [**Stop Market**](https://docs.finandy.com/trading/create-order-grid/order-types/stop-order) - exchange-type order that initiates a market order once the stop price is triggered.

### 3. Number of orders

Combining the [**SLX module,**](https://docs.finandy.com/trading/trailing) with multiple TP orders can optimize profits while adjusting **Stop Loss** based on **executed TP's**.

### 4. Order price and token quantity.

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.

{% hint style="info" %}
The final order's quantity is calculated automatically and cannot be modified.
{% endhint %}

## FAQ

[How to manually set multiple Take Profits when TP module is disabled?](#how-to-manually-set-multiple-take-profits-when-tp-module-is-disabled)

[What is the reason for only having one active TP (the outermost one)?](#what-is-the-reason-for-only-having-one-active-tp-the-outermost-one)\\

\###How to manually set multiple Take Profits when TP module is disabled?

1. Open currency pair chart for opened position;

<figure><img src="https://554260309-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FeAkMGtCw51BYWLVdmuDx%2Fuploads%2FO2mjT5Y6YWGcruXoiE5w%2Fimage.png?alt=media&#x26;token=1ead80c2-a8b4-4338-95ff-8f0b486e4057" alt=""><figcaption></figcaption></figure>

2. Select <mark style="color:green;">**"LONG"**</mark> or <mark style="color:red;">**"SHORT"**</mark>, based on opened position direction
3. Select "1" order (set by default)
4. Select [order type](https://docs.finandy.com/trading/manual/order-types)
5. Enter price, if necessary
6. Enter order amount or volume as % of total position
7. Switch to "Close/reduce"
8. Click "<mark style="color:red;">**Close LONG**</mark>" or "<mark style="color:green;">**Close SHORT**</mark><mark style="color:green;">"</mark>

<figure><img src="https://554260309-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FeAkMGtCw51BYWLVdmuDx%2Fuploads%2FyQ6bHOVyWF3oy4ZpSTkB%2Fimage.png?alt=media&#x26;token=f85a4c1c-5742-46c8-812e-7a0d3e825fd5" alt="" width="322"><figcaption></figcaption></figure>

### What is the reason for only having one active TP (the outermost one)?

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.

**Any questions? We can help in our Telegram Chat.**

{% embed url="<https://t.me/finandy>" %}