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==Profit Target==
[[Image:ProfitTargetOnChart.png|thumb|right|Profit Target order on the chart]]
[[Image:ProfitTargetInDOM.png|thumb|right|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 [[Chart Trading#Appearance|Format Chart Trading]] menu.
For the '''[[Depth of market (DOM)|DOM window]]''', default Profit Target order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu.
<div style="background-color: #E3FBE5;">Note: When Profit Target is auto attached to an order and '''has not been triggered yet''', inactive orders are indicated as semi-transparent. </div>
===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 http://www.multicharts.com/img/wiki/strategies/29.png to an active order or open position '''on the chart'''; or:
* Drag-and-drop the Profit Target icon http://www.multicharts.com/img/wiki/strategies/29.png to an active order or open position on the '''[[Depth of market (DOM)|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 '''[[Depth of market (DOM)|DOM window]]''' to see the shortcut menu, select '''Attach Exit Strategy''' and click '''Profit Target'''.
* Right-click on the Profit Target icon http://www.multicharts.com/img/wiki/strategies/29.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:
# Right-click the Profit Target icon http://www.multicharts.com/img/wiki/strategies/29.png in the '''Exit Strategy''' menu to see the shortcut menu.
# Click '''Edit…'''
# Modify amount of profit in the '''Amount of Profit''' box.
'''Amount of Profit''' can be indicated as ticks or %. To change indication type, click the '''Tick/Percent''' button.
Click '''More Parameters >>''' to show '''Time In Force''' field (for more info see [[Chart Trading#Setting Time in Force|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 http://www.multicharts.com/img/wiki/strategies/29.png in the '''Exit Strategy''' menu to see the shortcut menu, the '''Auto Attach to Orders'''; or:
* Double-click the Profit Target icon http://www.multicharts.com/img/wiki/strategies/29.png in the '''Exit Strategy''' menu; or:
* Enable '''Auto Attach to Orders''' feature in the '''Place Strategy''' window when applying the strategy.
<div style="background-color: #E3FBE5;">Note: When Profit Target exit strategy is auto attached, custom parameters will be used. </div>
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:
# Open '''Strategy Parameters''' window by one of the following methods:
#* Right-click the Profit Target icon http://www.multicharts.com/img/wiki/strategies/29.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.
# Modify default '''Profit Target''' parameters.
# Click '''Save'''
# Choose the Profit Target Template icon .
# Enter Profit Target Template name.
# Click '''OK'''.
[[Category:Orders and Strategies]]
[[Image:ProfitTargetOnChart.png|thumb|right|Profit Target order on the chart]]
[[Image:ProfitTargetInDOM.png|thumb|right|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 [[Chart Trading#Appearance|Format Chart Trading]] menu.
For the '''[[Depth of market (DOM)|DOM window]]''', default Profit Target order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu.
<div style="background-color: #E3FBE5;">Note: When Profit Target is auto attached to an order and '''has not been triggered yet''', inactive orders are indicated as semi-transparent. </div>
===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 http://www.multicharts.com/img/wiki/strategies/29.png to an active order or open position '''on the chart'''; or:
* Drag-and-drop the Profit Target icon http://www.multicharts.com/img/wiki/strategies/29.png to an active order or open position on the '''[[Depth of market (DOM)|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 '''[[Depth of market (DOM)|DOM window]]''' to see the shortcut menu, select '''Attach Exit Strategy''' and click '''Profit Target'''.
* Right-click on the Profit Target icon http://www.multicharts.com/img/wiki/strategies/29.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:
# Right-click the Profit Target icon http://www.multicharts.com/img/wiki/strategies/29.png in the '''Exit Strategy''' menu to see the shortcut menu.
# Click '''Edit…'''
# Modify amount of profit in the '''Amount of Profit''' box.
'''Amount of Profit''' can be indicated as ticks or %. To change indication type, click the '''Tick/Percent''' button.
Click '''More Parameters >>''' to show '''Time In Force''' field (for more info see [[Chart Trading#Setting Time in Force|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 http://www.multicharts.com/img/wiki/strategies/29.png in the '''Exit Strategy''' menu to see the shortcut menu, the '''Auto Attach to Orders'''; or:
* Double-click the Profit Target icon http://www.multicharts.com/img/wiki/strategies/29.png in the '''Exit Strategy''' menu; or:
* Enable '''Auto Attach to Orders''' feature in the '''Place Strategy''' window when applying the strategy.
<div style="background-color: #E3FBE5;">Note: When Profit Target exit strategy is auto attached, custom parameters will be used. </div>
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:
# Open '''Strategy Parameters''' window by one of the following methods:
#* Right-click the Profit Target icon http://www.multicharts.com/img/wiki/strategies/29.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.
# Modify default '''Profit Target''' parameters.
# Click '''Save'''
# Choose the Profit Target Template icon .
# Enter Profit Target Template name.
# Click '''OK'''.
[[Category:Orders and Strategies]]