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DipSway API

Take Profit

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What is a Take Profit order/position?

A Take Profit order is a type of order used to automatically close an asset when it reaches a certain price. It allows traders to lock in gains and exit a trade once their profit target is met, without needing to monitor the market constantly. In DipSway, you can set a custom Take Profit as a percentage

DipSway’s AI bot Take Profit

How it works

DipSway’s AI spot bot allows you to set a custom Take Profit. The take profit you set will synergize with your bot behaviour, meaning the bot’s behaviour prevales your set take profit. So if you set a very high Take Profit and the bot decides that closing the trade “now” at a lower value is optimal, it will take action.

Setup a Take Profit on your bot

How to set the optimal Take Profit

As always, there isn’t a secret formula for the perfect take profit. Many factors, such as:

  • coin volatility
  • position size
  • your trading experience
  • your risk tolerance

should be considered when setting the DipSway’s custom take profit. When comparing the Take Profit to the Stop-Loss you want to play

Example

Small wins: If you decide to trade 300 crypto and have a well sized wallet, it’s good to stay low with the Buy Power. This way you’ll have space to open trades on many of the assets you selected. With a low take-profit, you’ll guarantee your wins!