What is a Take Profit?
A Take Profit order is a tool utilized to automatically exit a position at a pre-determined price with the idea that this will allow you to achieve higher returns or mitigate your risk of the position decreasing in value after that price is achieved.
Stacked can automatically create Take Profit orders on the exchange whenever it opens a position. They help you to automatically realize your profits once a certain percentage is reached. Stacked automatically calculates the price for the orders based on price movement (exchange fees and leverage are not taken into account).
Order Type - You can choose to use Limit or Market orders to take profits. To be certain orders will get filled, use Market if available on your used Exchange.
Trigger Price - When is the TP going to trigger? At that price your TP orders are entering the order book.
Limit Price (BitMEX only) - The minimum profit you're willing to close you positions at. This should always be smaller than the trigger price to make sure your order can at least be filled partially.
Trailing Take Profit (BitMEX only) - Enables the creation of trailing orders. That means once the position moves in your favor, the Take Profit trigger is automatically adjusted and follows the price. Your trigger will then always be x% away from the best reached price instead of from the entry price.