Setting Take Profits: Single, Multiple, and Trailing Stops

TradeShields allows you to set up to three take profit levels or use trailing stops for dynamic profit-taking.

How to configure:

1. Navigate to Exit Settings.
2. Select a take profit option from the dropdown menu:
   • Single take profit
   • Two take profits
   • Three take profits
   • Trailing stop
3. For multiple take profits, configure each level:
   • 1st take profit (Field 1): Enter a value as a percentage or decimal from the entry price (e.g., 0.01 for 1%).
   • 2nd take profit (Field 2): Enter the second profit level (if applicable).
   • 3rd take profit (Field 3): Enter the third profit level (if applicable).

Example:

• For a trade with three take profits:
  • 1st take profit: 1% (0.01).
  • 2nd take profit: 2% (0.02).
  • 3rd take profit: 3% (0.03).
• For a trailing stop:
  • Set a trailing distance (e.g., 0.02 for 2%).

Tips:

• Use multiple take profits to scale out of positions gradually.
• Trailing stops are ideal for capturing extended trends.