Take profit is a special type of limiting trading order that allows one to secure the profit on a trade once a certain preset price level is reached. As soon as the price reaches the set take profit level, a limit order will be executed automatically. A take profit is indicated by a marker.
A take profit is stored locally in the Tiger.Trade terminal and will not be executed if there is no internet connection.
For a take profit to work even when the terminal is closed or there is a sudden lack of internet connectivity, in the main menu Settings → Basic settings in the section Trading enable the option Server take profit.
For a take profit to be set automatically, in the DOM menu select Settings and options → DOM parameters. On the Trading tab in the Take profit section, enter the value of the take profit in the Size field (in price steps, not in points).
If you want the trailing take to be set automatically, then additionally enter the margin size in the Trailing range field (in price steps, not in points).
The Margin field sets the maximum slippage when triggered. In other words, as soon as the price reaches the take profit marker, the position will be closed on the market, but the market order will be sent to close the position with the specified maximum slippage. If the condition is not met, after the specified slippage value (in price steps, not in points), a limit order to close will be placed and the position will not be closed until the price returns to that specified by this limit order.
A take profit can be set manually after entering a position. There are two methods to do this:
In the DOM menu, click the Set take profit button, move the cursor to the level of the required price, and fix the take profit with the left mouse button. To cancel setting a take profit, right-click on the mouse. To remove the set take profit, you need to release the Set take profit button.
Use the preset hotkey by holding it down on the keyboard and left clicking on the mouse button on the price in the DOM where you want to place a take profit. The hotkey is assigned through the main menu in the tab Settings → Hotkeys in the DOM section.
The mouse can be used to move the set take profit. It can also be turned into a trailing take by double-clicking the left mouse button on the marker.
Unlike a simple take profit, a trailing take begins to move in the direction of the open position when the price touches the marker.
As soon as the price touches the marker, the appearance of the indent marker will change from one to another.
This means that the stop loss is active. If the price approaches it, the position will be closed.
The margin size can be changed by moving the marker in the desired direction with the mouse.
A stop loss for a trailing take can be manually activated by double-clicking the left mouse button on the marker:
Or deactivate it by double-clicking the left mouse button on the marker:
A trailing take can be turned into a simple take profit by double-clicking the left mouse button on the marker:
Take profit settings take into account the selected price compression for the DOM when the price scale in the DOM is changed in proportion to the changed scale. In other words, if the take profit is set to 100 points in the settings, while the DOM is compressed 5 times, then the take profit will be equal to 100×5 = 500 points.