What is it?
A “TP hit event” is an event/moment when a trade is closed when it’s take-profit level is touched. In the copier, you can select what actions to take when a TP hit event occurs.
A “TP hit event” will not trigger under following circumstances
- When a trade is manually closed
- When a trade does not have a take-profit or take-profit is removed
- When copier system is not open and running
- Trades opened manually or by other software
Lets try to understand how “TP hit event” work using examples.
Example: Moving stop-loss when a take-profit level is hit
Lets say 3 trades were opened by a signal with three take-profit levels.
EA Setting is set to:
TP1 Trade hit/close move SL to? – ENTRY PRICE
TP2 Trade hit/close move SL to? – TP1 PRICE
This is how these settings will take affect when TP hit events occur
When TP1 is hit
TP1 trade is fully closed (TP Hit)
TP2 trade's SL will move to entry price(breakeven)
TP3 trade's SL will move to entry price(breakeven)
When TP2 is hit
TP2 trade is fully closed (TP Hit)
TP3 trade's SL will move to TP1 price
When TP3 is hit
TP3 trade is fully closed (TP Hit)Example: Partially closing trades when a take-profit level is hit
Lets say 3 trades were opened by a signal with three take-profit levels. with following lot sizes.
TP1 lots size – 1.00
TP2 lots size – 1.00
TP3 lots size – 1.00
EA Setting is set to:
TP1 trade hit/close partial close – 0.50 (means 50%)
TP2 trade hit/close partial close – 0.50 (means 50%)
This is how these settings will take affect when TP hit events occur
When TP1 is hit
TP1 trade is fully closed by 1.00 (TP Hit)
Tp2 trade will partially close 0.50 (1.00 * 50%) 0.50 left
Tp3 trade will partially close 0.50 (1.00 50%) 0.50 left
When TP2 is hit
TP2 trade is fully closed by 0.50 (TP Hit)
Tp3 trade will partially close 0.25 (0.50 * 50%) 0.25 left
When TP3 is hit
TP3 trade is fully closed by 0.25 (TP Hit)