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Enter a Profit Offset amount on the order line, or check Create Profit Taking Order on the to specify advanced profit order instructions. Follow the instructions below AFTER you have created a scale order on your trading page.
To activate scale profit orders
This amount is added to (a BUY scale order) or subtracted from (a SELL scale order) per unit price of a component, to create your minimum acceptable profit for exiting a position. For example, assume your Scale Profit Offset is $2.00. If a 500-unit BUY component fills at 28.26, ScaleTrader submits a 500-unit SELL component at a limit price of 30.26.
Notes on Profit Orders
- Buy order for Initial component size of 300 is submitted at 25.00 and fills.
- Profit sell order of 100 (or Sub. Comp. Size) is submitted at 28.00 (fill price + profit offset.
- Profit sell order of 100 is submitted at 27.00 (last fill price - price increment + profit offset).
- Profit sell order of 100 is submitted at 26.00 (last fill price - price increment + profit offset).
Other profit fields include the following:
Restore size after taking profit - Check to have ScaleTrader put back the order size after the profit order is filled. See an example of a scale profit with restored size.
Auto price adjustment - Automatically adjusts the order price by the specified increment at the specified time interval.
Restart ScaleTrader - Resumes a cancelled or busted ScaleTrader order, starting from the point at which the scaled sequence left off.