It allows you to have up to four targets for your Take Profit. To make it even better, you can use trailing for the last target.
It helps to manage risk balancing between 'sold too low' and 'not sold at all.' For example, you have some ETH and sure that it would rise to $210, and almost no doubt to $220, make two targets. But what if it continues to move up? You may add some targets higher too. That's not a wrong way to split the trade like this.
- Sell 30% of trade at $210;
- Sell 30% of trade at $220;
- Sell 20% of trade at $230;
- Sell 20% of trade at $240;
So you are selling more than half volume on safe targets which likely to be achieved in your opinion, and then trying to win if the rise continues. If it doesn't continue, you at least have 60% sold already.
A sample Step Sell
Click "Split Targets" in the Take Profit section to activate the Step Sell.
The block changes its look to the following.
You need to take two actions to add a new target.
- Select its target in percent or price.
- Select its volume.
On the image above the target is at +10% or $220, and the volume at 25%. Let's click the 'Add TP target' button.
We have our target added to the list near diagram, and the diagram itself changed. The diagram visualizes volume distribution among targets. Please note that the diagram is not visible on small screens.
Now we want to add the second target, sell 50% volume at $230.
And after adding the target, we have this.
You should use all the volume. Otherwise, the system won't let place this trade. We have 25% left as it stated inside the diagram. It is possible to add one target for the whole 25, but we add two more goals for 12% and 13% of amount respectively.
That's the final settings. You can enable trailing for the last target. It works the same way as the Trailing Take Profit described in the article.
Here is how trade with multiple steps looks in the active trades list.
It is possible to expand the trade status to see every target status and sell any of them immediately at market rate.