What is take profit?
Take profit is a final word in your deal, when comes the time to actually take your profit.
It’s a sell (for long strategy) or buy order (for short) when the certain price is reached.
These are the factors which affect the take profit price:
- Take profit value - obviously the more you want the higher price should be reached;
- Exchange fee - so there was no scenario where fee take most or more than the profit you get;
- Extra orders - each time extra order is executed bot recalculates take profit price so that it would be easier to reach.
USDT-BTC-Long bot starts the deal with 0.2% take profit.
Bot makes first order, Volume: 0.00091 BTC (9.07 USDT) Current BTC price: 9974.15 USDT
Calculates the take profit price. BTC should reach 10014.05 USDT to get 0.2% profit and cover the fee.
Price reaches take profit price and trading bot sells BTC back bringing you 0.018 USDT profit.