This feature allows you to have up to 8 targets for your Take Profit. Also, you can use the Trailing feature for the last target to make it even better.
It helps to manage risk balancing between 'sold too low' and 'not sold at all.'
For example, you have some BNB and you are sure that it would rise to $250, and almost no doubt to $260, 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 $250;
Sell 30% of trade at $260;
Sell 20% of trade at $270;
Sell 20% of trade at $280.
So you are selling more than half the volume on safe targets, which are 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.
Let's create several Take Profit targets
1. Chose Limit or Market Order type
This will apply to all of your Take Profit targets:
all TP targets will be placed in the order book if the Limit Order is chosen (if Trailing is enabled, the last Take Profit target will be executed at the market price).
Let's choose Limit Order type.
2. Click "Split Targets"
Enable the Take Profit feature and then click on the Split Targets button:
3. Enter the price and the amount for the first target
You can either enter the target price or a percentage value, depending on your strategy.
You can enter the volume percentage manually or use a slider.
Then click on Add TP target.
4. Repeat with the new target's price and amount
And click Add TP target:
5. Do the same actions for other Take Profit targets
The final window looks like this:
Ok, we have our targets added, and they are in the list near the diagram. The diagram visualizes the parts of the total Take Profit amount. Please note that the diagram is not visible on small screens.
6. Cancel your Take Profit targets or completely the setting
You can cancel the targets one by one or completely reset Take Profit steps:
7. Let's enable Trailing Take profit
Now you can enable trailing, but it will be applied only for the last target. It works the same way as the Trailing Take Profit described in this article. If you enable it, Approximate Profit will not be displayed.
8. Create Smart Trade
As previously said, the last order will be Market if Trailing is enabled.
After you create a Smart Trade, here is how trade with multiple steps (targets) looks in the active trades list:
If you expand the trade status by clicking on the arrow button at the left of the trade, you will see every target status.
The trade in the screenshot above has enabled Trailing feature. Thus, you can see that the last target is displayed as TTP (Trailing Take Profit) on the trade widget and has a Pending status as it's not placed in the order book like others are.
Here you can sell any of them immediately at the market rate.