🥉Multiple Take Profits/Targets

Multiple Take Profit/Targets from the crypto signal, or your settings or a combination of both.

Futures BTC Trading: multiple take profits on Bybit placed by the futures bot

Use multiple Take Profits/Targets

With Futures Bot Version 020922 you can use mutliple take profits, from the trading signal or your own. This might get a little bit confusing, so take your time and maybe read it twice to understand it. You are able to place multiple Take Profits or select them from the Signal, this is a pretty awesome feature and let's you maximise your profits.

Multiple Take Profits from the Signal - in row

To take the take profits from the crypto signal you need to use the following settings:

  "mode": "SignalSettings", 
  "numberOfTakeProfits": 1,

This will take the signals take profits and will place only one take profit at the exchange at TP 1 (or target 1 from the example below).

Coin Signals multiple Take Profits Example

If you use

"numberOfTakeProfits": 2,

The first two Take Profits will be placed and the order amount will be split equally. So, in this case the Futures Bot will place the take profits at Target 1 and Target 2 and both Stop Loss will be at the stop loss from the signal.

This type will use the take profits or targets from the signal in a row. From Take Profit or Target 1 to the last TP or Target.

Multiple Take Profits from the Signal - select the ones

In the following you can select which Take Profit/Target should be used from the Signal. The "numberOfTakeProfits" now looks different! Use brackets to select the targets you want to use.

We start counting with 0 - not 1. As the picture shows the first Target 1 is our 0.

Example:

We use the following settings for the below signal. We want to trade Target 2, Target 4 and Target 6, hence we use [1, 3, 5] as input in our settings-file.

  "mode": "SignalSettings", 
  "numberOfTakeProfits": [1, 3, 5],

How to count the targets for the Bot

How the selection of the multiple targets looks like

As you can see the Signal doesn't have a Target 6. Hence the Bot will only use the Target 2 and Target 4 and split the amount 50/50 between those two. Just select the Targets you want to trade🤗

Multiple Take Profits from your Settings

This is really easy. First we switch from the "SignalsSettings" to "MySettings". "numerOfTakeProfits" will be ignored and takeProfit will be the parameter we need to make our adjustments.

  "mode": "MySettings", 
  "numberOfTakeProfits": 1,
  "stopLoss": 0,
  "takeProfit": [0.8, 1.2, 1.6, 2.0], 

Just enter the take profit in % brackets as in the example above. The Futures Bot will place take profits at 0.8%, 1.2%, 1.6% and 2.0% and will split the order amount equally between them. So, no big deal for you 🤗

Combination of MySettings and SignalSettings

This is again a little bit more complex to do. The Futures Bot allows you to personalise the signals as much as possible, hence it might get a little bit complicated. Let's start with a few examples to explain how to mix parts of the signal with your own.

Remember: using "MySettings" and setting a parameter to 0 or [0] will use the Signals parameters.

Example 1: MySettings with multiple Take Profits from Signal

In this Example the Bot will take the first 3 Targets/TakeProfits from the Signal and use your custom stop loss of 2.2% with all of them. Hence you use multiple Take Profits with a costum stop loss and leverage of 34. You need to have "takeProfit" : [0] to make this work.

{
  "fundsPerTrade": 10,
  "mode": "MySettings", 
  "numberOfTakeProfits": 3,
  "stopLoss": 2.2,
  "takeProfit": [0], 
  "trailingStopLoss": "None",
  "leverage":34
}

Example 2: MySettings with own multiple Take Profits

In this we take the stop loss and leverage from the crypto signal, BUT use our own multiple take profits. The take profits will be placed at 1.0% and 1.5% while the stop loss from the Signal is applied.

{
  "fundsPerTrade": 10,
  "mode": "MySettings", 
  "numberOfTakeProfits": 1,
  "stopLoss": 0,
  "takeProfit": [1.0, 1.5], 
  "trailingStopLoss": "None",
  "leverage":0
}