Profit Target: Difference between revisions
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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). | 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). | ||
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<img src="https://www.multicharts.com/trading-software/images/1/12/ProfitTargetOnChart.png" width="400" style="display: block; margin: 0 auto;"> | |||
<p style="text-align: center; margin: 0 5px 0 5px;">Bracket Exit Strategy orders on the chart</p> | |||
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<div style="float: right; margin: 0 0 0 10px; border: 1px solid lightgray;"> | |||
<img src="https://www.multicharts.com/trading-software/images/a/a1/ProfitTargetInDOM.png" width="349" style="display: block; margin: 0 auto;"> | |||
<p style="text-align: center; margin: 0 5px 0 5px;">Bracket Exit Strategy orders in the DOM window</p> | |||
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==Appearance== | ==Appearance== | ||
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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 <img src="https://www.multicharts.com/trading-software/images/9/9d/PT.png" width="32"> to an active order or open position '''on the chart'''. | ||
* Drag-and-drop the Profit Target icon | * Drag-and-drop the Profit Target icon <img src="https://www.multicharts.com/trading-software/images/9/9d/PT.png" width="32"> to an active order or open position on the '''[[Depth of market (DOM)|DOM window]]'''. | ||
* 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 <img src="https://www.multicharts.com/trading-software/images/9/9d/PT.png" width="32"> 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 <img src="https://www.multicharts.com/trading-software/images/9/9d/PT.png" width="32"> 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. | ||
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'''Amount of Profit''' can be set as a fixed price or an offset indicated as ticks or %. | '''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: | * To set the Profit Target at a fixed price level: | ||
# Click the '''N/A''' button | # Click the '''N/A''' button <img src="https://www.multicharts.com/trading-software/images/e/ec/N_A_button.png" width="92"> to activate the price input field (if it is unavailable). | ||
# Enter the price for a Profit Target order. | # Enter the price for a Profit Target order. | ||
# Click the '''Save''' button to save the settings. | # Click the '''Save''' button to save the settings. | ||
* To set the amount of Profit at a fixed offset: | * To set the amount of Profit at a fixed offset: | ||
# Click the '''N/A''' button | # Click the '''N/A''' button <img src="https://www.multicharts.com/trading-software/images/e/ec/N_A_button.png" width="92"> to activate the offset input field (if it is unavailable). | ||
# Click the '''Tick/Percent''' button | # Click the '''Tick/Percent''' button <img src="https://www.multicharts.com/trading-software/images/d/d8/Tick_button.png" width="16">/<img src="https://www.multicharts.com/trading-software/images/a/af/Percent_button.png" width="16"> to select the offset type. | ||
# Enter the offset value. | # Enter the offset value. | ||
# Click the '''Save''' button to save the settings. | # Click the '''Save''' button to save the settings. | ||
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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 <img src="https://www.multicharts.com/trading-software/images/9/9d/PT.png" width="32"> in the '''Exit Strategy''' menu to see the shortcut menu, the '''Auto Attach to Orders'''. | ||
* Double-click the Profit Target icon | * Double-click the Profit Target icon <img src="https://www.multicharts.com/trading-software/images/9/9d/PT.png" width="32"> in the '''Exit Strategy''' menu. | ||
* 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 <img src="https://www.multicharts.com/trading-software/images/9/9d/PT.png" width="32"> in the '''Exit Strategy''' menu to see the shortcut menu, then click '''Save as Template'''. | ||
#* 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. |