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==Profit Target==
===Appearance===
===Profit Target Parameters ===
===Auto Attach===
===Saving as Template===
[[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).
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.
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[[File://www.multicharts.com/img/wiki/strategies/29PT.png ]] to an active order or open position '''on the chart'''; or:* Drag-and-drop the Profit Target icon http[[File://www.multicharts.com/img/wiki/strategies/29PT.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[[File://www.multicharts.com/img/wiki/strategies/29PT.png ]] in the '''Exit Strategy''' menu to see the shortcut menu and check '''Apply To Open Position'''.
To modify default Profit Target Parameters:
# Right-click the Profit Target icon http[[File://www.multicharts.com/img/wiki/strategies/29PT.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 set as a fixed price or an offset indicated as ticks or %. * To change indication type, click set the Profit Target at a fixed price level:*# Click the '''N/A''' button [[File:N_A button.png]] to activate the price input field (if it is unavailable);*# 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:*# Click the '''N/A''' button [[File:N_A button.png]] to activate the offset input field (if it is unavailable); *# Click the '''Tick/Percent''' button [[File:Tick button.png]]/[[File:Percent button. png]]to select the offset type; *# Enter the offset value;*# Click the '''Save''' button to save the settings. <br><div style="background-color: #E3FBE5;">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.</div>
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 Profit Target Exit Strategy to orders by one of the following methods:
* Right-click the Profit Target icon http[[File://www.multicharts.com/img/wiki/strategies/29PT.png ]] in the '''Exit Strategy''' menu to see the shortcut menu, the '''Auto Attach to Orders'''; or:* Double-click the Profit Target icon http[[File://www.multicharts.com/img/wiki/strategies/29PT.png ]] in the '''Exit Strategy''' menu; or:
* Enable '''Auto Attach to Orders''' feature in the '''Place Strategy''' window when applying the strategy.
To re-enable auto attach feature click '''Auto Apply'''.
To save the parameters as a template:
# Open '''Strategy Parameters''' window by one of the following methods:
#* Right-click the Profit Target icon http[[File://www.multicharts.com/img/wiki/strategies/29PT.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.
# Enter Profit Target Template name.
# Click '''OK'''.
[[Category:Orders and Strategies]]
