Take Profit Ladder
Take Profit ladder (multi-level Take Profit) is a tool that allows profit to be locked in for a trade in several steps. These steps are called targets.
The maximum number of active Take Profit targets is 8. New targets can be added after the current ones are filled, and each target must specify both a price and an order size.
When creating a trade:
for a buy trade, Take Profit targets are set above the buy price;
for a sell trade, Take Profit targets are set below the sell price.
When the order has already been executed on the exchange:
if the asset has been bought, Take Profit targets are set above the current price;
if the asset has been sold, Take Profit targets are set below the current price.
If a Take Profit target is set in violation of these rules, the corresponding part of the position is closed at the current market price. See How to partially close a position at market price.
Take Profit ladder example
A Take Profit ladder can be added when creating a starting order in Advanced mode or in the Smart Trade editing window for an active trade.
The example below shows how to add a Take Profit ladder in the Smart Trade editing window:
If the LIMIT parameter is selected, limit Take Profit orders are used;
if MARKET is selected, market Take Profit orders are used
The difference between market and limit orders is described in a separate article.
Regardless of the number of targets, 100% of the position must be distributed between Take Profit targets.
In the Smart Trade for the BTC/USDT pair, 0.00991 BTC is bought at a price of 89,600 USDT. Four Take Profit targets are configured:
10% of the position at 90,400 USDT;
20% of the position at 90,500 USDT;
30% of the position at 90,800 USDT;
40% of the position at 91,000 USDT.
Managing Take Profit targets
A Take Profit target can be modified or deleted by clicking the cross icon next to it;
if multiple Take Profit targets are set, the Trailing Take Profit function applies only to the last target;
when using a Take Profit ladder, the minimum order size on the exchange must be taken into account;
each Take Profit target must be larger than the minimum order size;
if this condition is not met, a warning is shown and the order size must be increased, the sell price raised, or the number of targets reduced before the trade can be saved.
How to partially close a position at market price
Partial position closing at market price is performed using Take Profit orders.
To close a required share of the position (for example, 25%, 30%, or 50%), a Take Profit target is created for this share, and the target price is set on the opposite side of the current market price:
for a long position, the target price is set below the current price;
for a short position, the target price is set above the current price.
After the trade is saved, a warning is displayed indicating that this Take Profit will be executed at market price. Confirming the changes leads to closing the corresponding part of the position at market price. The position size is reduced by the percentage specified in the Take Profit target.
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