Profit Target

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Profit Target order on the chart
Profit Target order in the DOM window

A profit target is a limit order placed ahead of time to define how much profit must be attained before the position is closed and the profit is realized (i.e. contracts either bought or sold to reduce or close the position).

Appearance

Profit Target Strategy is displayed as green marker on the chart connected to the order price label on the price scale with a dotted line and as green marker in the DOM window.

For the chart window, Connecting line length can be modified in Format Chart Trading menu.

For the DOM window, default Profit Target order marker color can be modified in Format Colors menu.

Note: When Profit Target is auto attached to an order and has not been triggered yet, inactive orders are indicated as semi-transparent.

Applying Profit Target Exit Strategy

Apply Profit Target Exit Strategy to an active order or open position by one of the following methods:

  • Drag-and-drop the Profit Target icon PT.png to an active order or open position on the chart; or:
  • Drag-and-drop the Profit Target icon PT.png to an active order or open position on the DOM window; or:
  • Right-click on the active order or open position on the chart to see the shortcut menu, select Attach Exit Strategy and click Profit Target.
  • Right-click on the active order or open position on the DOM window to see the shortcut menu, select Attach Exit Strategy and click Profit Target.
  • Right-click on the Profit Target icon PT.png in the Exit Strategy menu to see the shortcut menu and check Apply To Open Position.

Profit Target Parameters

To modify default Profit Target Parameters:

  1. Right-click the Profit Target icon PT.png in the Exit Strategy menu to see the shortcut menu.
  2. Click Edit…
  3. Modify amount of profit in the Amount of Profit box.

Amount of Profit can be set as a fixed price or an offset indicated as ticks or %.

  • To set the Profit Target at a fixed price level:
    1. Click the N/A button N A button.png to activate the price input field (if it is unavailable);
    2. Enter the price for a Profit Target order;
  • Click the Save button to save the settings.
  • To set the amount of Profit at a fixed offset:
    1. Click the N/A button N A button.png to activate the offset input field (if it is unavailable);
    2. Click the Tick/Percent button Tick button.png/Percent button.pngto select the offset type;
    3. Enter the offset value;
    4. Click the Save button to save the settings.


Note: In real-time trading Profit target values are based on the average entry price provided by the broker ((execution price + commission) / position size). Some brokers may not include the commission. If the price does not conform to the minimum price variation Profit Target value is rounded up.

Click More Parameters >> to show Time In Force field (for more info see Time in Force section).

To save custom parameters, click Save.

Auto Attach

Auto Attach Profit Target Exit Strategy to orders by one of the following methods:

  • Right-click the Profit Target icon PT.png in the Exit Strategy menu to see the shortcut menu, the Auto Attach to Orders; or:
  • Double-click the Profit Target icon PT.png in the Exit Strategy menu; or:
  • Enable Auto Attach to Orders feature in the Place Strategy window when applying the strategy.
Note: When Profit Target exit strategy is auto attached, custom parameters will be used.

When one or several Exit Strategies auto attached, the Pause/Auto Apply button with the number of auto attached exit strategies in brackets will be shown in Exit Strategy menu. Click Pause to temporarily disable auto attach feature.

When auto attach feature is paused, no Exit Strategies will be automatically applied to an each new entry.

To re-enable auto attach feature click Auto Apply.

Saving as Template

To save the parameters as a template:

  1. Open Strategy Parameters window by one of the following methods:
    • Right-click the Profit Target icon PT.png in the Exit Strategy menu to see the shortcut menu, then click Save as Template; or:
    • Click on the Save as Template button in the Place Strategy window when applying the strategy.
  2. Modify default Profit Target parameters.
  3. Click Save
  4. Choose the Profit Target Template icon .
  5. Enter Profit Target Template name.
  6. Click OK.