What is Take Profit?
Take Profit allows you to determine how much profit you want to make from a trade. When you set up Take Profit, it creates a Limt order for your position, specifying the exact price at which your position will be automatically closed to lock in your profits.
What is Limit Order?
The orders you send for Take Profit are Limt orders. These are buy or sell contracts at a nominal or better price. A Take Profit Limit order will automatically close your position in the available quantity when the contract price reaches the Take Profit price or better. All Take Profit orders are placed on a Good-Till-Canceled (GTC) basis, meaning the order will remain open until completed or canceled.
Why is it important to set up Take Profit?
By setting up Take Profit, you can better manage the profit and loss of your position(s) when placing an order. You can also change the Take Profit level of your location(s) at any time. Therefore, you don't need to manually check and close your location(s) all the time to lock in the earnings early.
Are there any limitations in the Take Profit setting?
You can set up Take Profit for Strike Options and UpDown Options offered by Crypto.com | Derivatives North America. The same Take Profit order will apply to all contracts in the position. For example, if you have an open BTC Strike Options position at a barrier price of $70,000 and a quantity of 10 contracts, the Take Profit order will apply to all 10 contracts at the same price. However, different Take Profit orders can be set up for other locations.
How to set up Take Profit?
There are two ways to set up Take Profit – when you make a trade or when you manage an open position.
Method 1 – When making a transaction
Select a contract (Strike or UpDown Options) to trade, tap Advanced Trading Options on the trading screen, activate Take Profit in the Advanced Trading Options menu, select a Take Profit type from a drop-down list, enter a valid quantity/value according to the selected type, tap Confirm to save the Take Profit setting. A Take Profit order will only be generated after your trade has been successfully executed. If the trade fails, the Take Profit order will not be created and you will receive a notification about it.
Method 2 – When Managing an Open Location
View the details of your open position, tap on Location Details at the bottom of the screen, tap Take Profit to set it or fix an existing setting, turn on Take Profit in the Advanced Trading Options menu, select a Take Profit type from a drop-down list, enter a valid quantity/value according to the selected type, tap Confirm to send the order.
Can I change the Take Profit setting after confirming it?
Your existing Take Profit setting can be changed at any time before the position closes or expires by one of the methods listed above (How to Set Up Take Profit). It is also possible to remove the Take Profit setting at any time before the position closes or expires by using one of the methods described above (how to set up Take Profit) to turn off Take Profit and tap “Confirm”.
Why don't I see the last status of my Take Profit order in my trade history?
A Take Profit order will be displayed in your transaction history when it is fully completed, canceled, or rejected. If the order is not yet complete or partially completed, you will not see it in your transaction history.
