Take Profit Tutorial
What is it?
Take Profit is the feature of executing 100% of the balance you acquired during the period the signal was active when your target profit is met.
When to use it?
Take Profit is particularly effective on scalp signals or when you want to secure a quick profit on multi target signals and move on your balance to the next signal.
During bear market periods it can be more effective to realize small profit amounts, instead of attempting to reach multiple profit targets with techniques like trailing stop and take profit.
How does Anny operates the Take Profit?
Anny monitors the price of a given coin at every second to find out if your target profit is reached.
Anny’s Take Profit feature works as global setting, to be applied when you create your own multi target signals and also for as a settings for each Pro Trader that you follow.
Once Anny finds your target profit, she will automatically create a sell order to be executed in Binance. Even though the trade is done you can always re-activate, create additional buy orders keep the assets for a longer period.
How can I set it up?
On Anny, enter the command /dashboard then tap on the Take Profit option.
* Does Take Profit and Trailing Take Profit work together?
The Trailing Take Profit technique works in conjunction with the Take Profit but this takes precedence over the other.
Example 1: If you have Trailing Take Profit on and the Take Profit set for target 3, Trailing Take Profit will be effective on target 1 and 2, when hitting target 3 the Take Profit will execute 100% of your balance.
Example 2: If you have Trailing Take Profit on and Take Profit set at 5% profit, Trailing Take Profit will be effective only until the desired profit is reached. When the target profit reaches the Take Profit will execute 100% of your balance.
What are my options?
You have 2 profit strategies to chose from:
* On a signal target: you determine on which signal target you would like to execute your balance and Anny will place a sell order when the target is met.
* On a profit percentage: you determine the profit percentage you would like to achieve. Anny will keep comparing your average buy price to the next open buy price on the bid to see if you can profit from the trade.
You can select whether Anny should make a limit order or a market order. Here are the pros and cons of both:
* PRO: Secures the order executes and your profits is secured.
* CON: The price of the bid might be a little lower than the market price, so your end profit may be lower.
* PRO: Secures your target profit amount will be met as intended.
* CON: An order at market price will be placed and enter the bookings waiting for a buyer, there's a chance that it will not execute.
We wish you the best of luck and may Anny accompany you on a very productive journey!