Profit Target: Difference between revisions
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Apply Profit Target Exit Strategy to an active order or open position by one of the following methods: | 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 | * Drag-and-drop the Profit Target icon [[File:PT.png]] to an active order or open position '''on the chart'''; or: | ||
* Drag-and-drop the Profit Target icon | * Drag-and-drop the Profit Target icon [[File:PT.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 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 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 | * Right-click on the Profit Target icon [[File:PT.png]] in the '''Exit Strategy''' menu to see the shortcut menu and check '''Apply To Open Position'''. | ||
==Profit Target Parameters == | ==Profit Target Parameters == | ||
To modify default Profit Target Parameters: | To modify default Profit Target Parameters: | ||
# Right-click the Profit Target icon | # Right-click the Profit Target icon [[File:PT.png]] in the '''Exit Strategy''' menu to see the shortcut menu. | ||
# Click '''Edit…''' | # Click '''Edit…''' | ||
# Modify amount of profit in the '''Amount of Profit''' box. | # Modify amount of profit in the '''Amount of Profit''' box. | ||
'''Amount of Profit''' can be indicated as ticks or %. To | '''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: | |||
*# 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). | 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'''. | To save custom parameters, click '''Save'''. | ||
==Auto Attach== | ==Auto Attach== | ||
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Auto Attach Profit Target Exit Strategy to orders by one of the following methods: | Auto Attach Profit Target Exit Strategy to orders by one of the following methods: | ||
* Right-click the Profit Target icon | * Right-click the Profit Target icon [[File:PT.png]] in the '''Exit Strategy''' menu to see the shortcut menu, the '''Auto Attach to Orders'''; or: | ||
* Double-click the Profit Target icon | * Double-click the Profit Target icon [[File:PT.png]] in the '''Exit Strategy''' menu; or: | ||
* Enable '''Auto Attach to Orders''' feature in the '''Place Strategy''' window when applying the strategy. | * Enable '''Auto Attach to Orders''' feature in the '''Place Strategy''' window when applying the strategy. | ||
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# Open '''Strategy Parameters''' window by one of the following methods: | # Open '''Strategy Parameters''' window by one of the following methods: | ||
#* Right-click the Profit Target icon | #* Right-click the Profit Target icon [[File: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. | #* Click on the '''Save as Template''' button in the '''Place Strategy''' window when applying the strategy. | ||
# Modify default '''Profit Target''' parameters. | # Modify default '''Profit Target''' parameters. |