Take Profit

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.

Note

You set a +15% Take Profit which would have been to high and risky to force, so the bot decided to close at +7%!

Caution

NOT every exchange supports a Take Profit and NOT every coin supports a Take Profit. If the exchange/coin you select don’t allow a Take Profit we will alert you! 👍🏼

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

Tip

Check out the best bot setups on the leaderboard! This way you can see how the most performant users are taking home profits using the custom Take Profit!

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!