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/FAQ/Trading Bots/Secure your gains with the Take Profit feature

Secure your gains with the Take Profit feature

The Take Profit feature is a powerful tool for managing risk and securing profits in trading bots. 

In this guide, you’ll find:

What is Take Profit?

When the Total PNL (Profit and Loss) of the active bot reaches the profit percentage you set in the Take Profit parameter, the bot stops trading. This ensures that profits are realized and not impacted by future market fluctuations.

The Take Profit feature helps you lock in returns by stopping the bot and executing specific actions once your profit target is met:

  • GRID Bot: Sells all base currency used in open orders.
  • BTD Bot: Buys back base currency using the quote currency from open orders.

Examples:

  1. GRID Bot Example:
    • Trading Pair: ETH/BTC
    • Take Profit: 15%
    • When Total PNL reaches +15% in BTC, the bot will:
      • Close all orders.
      • Sell the remaining ETH.
      • Move to the History tab.
  2. BTD Bot Example:
    • Trading Pair: ETH/USDT
    • Take Profit: 15%
    • When Total PNL reaches +15% in ETH, the bot will:
      • Close all orders.
      • Buy back ETH using all USDT from open orders.
      • Move to the History tab.

Why Use Take Profit?

  • Lock in Gains: Secure your profits as soon as your target is met.
  • Simplify Risk Management: Avoid the need to monitor markets continuously.
  • Align with Investment Goals: Customize the Take Profit percentage based on your trading strategy.

How to Enable Take Profit

1. For a New Bot:

  1. In the bot creation process, go to the Manual Adjustment section.
  2. Enable the Take Profit toggle.
  3. Enter the desired Total PNL % value.

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2. For an Active Bot:

  1. Select the bot you want to modify (highlighted in blue).
  2. Click the [Bot Actions] button or the three-dot menu on the right panel.
  3. Choose [Modify Bot] from the menu.
  4. In the Manual Adjustment section:
    • Enable the Take Profit function.
    • Enter the desired Total PNL % value.
  5. Review the settings and click [Confirm] to save changes.

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Key Notes

  • Pro Plan Feature: The Take Profit option is available only for users on the Pro Plan.
  • Execution Trigger: Take Profit activates when the Total PNL value matches your specified percentage.

Need Assistance?
If you encounter any issues or have questions, don’t hesitate to contact the Bitsgap Customer Support Team.