How Does the Multiple TP Feature Work?

The multiple TP (Take Profit) feature has two customizable options:

1. Set up to four TP levels based on risk-to-reward ratios (e.g., 1:1, 1:2, 1:3, 1:4).
2. Set TP levels using a specific number of pips (e.g., 10 pips, 20 pips, 30 pips).

How It Works

1. TP 1:

   • Once TP 1 is hit, the Trade Manager moves your stop loss to breakeven, making the trade risk-free.

2. TP 2:

   • When TP 2 is hit, the stop loss is moved to the TP 1 level, locking in profits.

3. TP 3:

   • After TP 3 is hit, the stop loss moves to the TP 2 level, securing even more profits.

4. TP 4:

   • The trade continues toward TP 4. If the market reverses, the trade will close at the TP 2 level, locking in profits from TP 3 and TP 2.

Example Using Pips

• Entry Price: 1.0000
• Stop Loss: 0.9950 (50 pips)
• Take Profit Levels:
  • TP 1: 1.0050 (50 pips)
  • TP 2: 1.0100 (100 pips)
  • TP 3: 1.0150 (150 pips)
  • TP 4: 1.0200 (200 pips)

Progression:

1. At TP 1 (1.0050):

   • 50 pips secured, stop loss moves to breakeven (1.0000).

2. At TP 2 (1.0100):

   • 100 pips secured, stop loss moves to TP 1 (1.0050).

3. At TP 3 (1.0150):

   • 150 pips secured, stop loss moves to TP 2 (1.0100).

4. Trade continues to TP 4 (1.0200) or reverses to TP 2, securing profits.
   
   Example on setup on software

Example Using Risk-to-Reward (R:R)

• Entry Price: 1.0000
• Stop Loss: 0.9950 (50 pips, $50 risk)
• Take Profit Levels:
  • TP 1: 1.0050 (1:1, $50 profit)
  • TP 2: 1.0100 (1:2, $100 profit)
  • TP 3: 1.0150 (1:3, $150 profit)
  • TP 4: 1.0200 (1:4, $200 profit)

Progression:

1. At TP 1 (1:1):

   • $50 profit secured, stop loss moves to breakeven.

2. At TP 2 (1:2):

   • $100 profit secured, stop loss moves to TP 1.

3. At TP 3 (1:3):

   • $150 profit secured, stop loss moves to TP 2.

4. Trade either hits TP 4 (1:4) or reverses to TP 2, locking in $100.

Example on setup on software

Benefits

• Risk-Free Trades: TP 1 removes initial risk.
• Profit Locking: Each level secures higher profits.
• Maximized Gains: Allows trades to run while minimizing potential losses if the market reverses.