Take Profit Order

From Haasonline Software Wiki
Jump to: navigation, search

A Take Profit order is used to lock in any potential profit. When the take profit price has been reached an order will be executed to get out of the current position and lock in the profits. If the direction of the order is buy/close short the price needs fall below the take profit price. Conversely, when the direction is sell/close long the price needs to go above the take profit price before an order is executed.

Examples

  • Current price: 6500 USD. Take profit price: 7000 USD. Direction: Sell. When the price goes above 7000 USD a sell order will be executed.
  • Current price: 7500 USD. Take profit price: 7000 USD. Direction: Buy. When the price goes below 7000 USD a buy order will be executed.
  • Current price: 7500 USD. Take profit price: 7000 USD. Direction: Close Short. When the price goes below 7000 USD a close short will be executed.
  • Current price: 6500 USD. Take profit price: 7000 USD. Direction: Close Long. When the price goes above 7000 USD a close long will be executed.

Settings

Advanced-orders-settings-1.png

Execute X Order On Activation

This is a optional feature that can you help get into the position. For example, when the direction is sell, a buy order will be executed to get into position.


Order Template

The template used to execute the start order. Only relevant when execute order on activation is enabled.


Price

The price on which the start order is executed. Only relevant when execute order on activation is enabled.

Advanced-orders-settings-take-profit.png

Take Profit Price

The price on which the order will be triggered.


Direction

The direction of the order that will be placed when triggered.


Order Template

The template used to execute the order when triggered


Execution Price

The price on which the order is placed when triggered


Amount

The quantity of the order.