Smart Order Options: Take Profit / Exit Ladder

Take Profit / Exit Ladder is used to add one or more Exit Targets to a new Entry order, to create all-in-one or Smart Order (Buy then Sell or Sell then Buy).

Overview

There are two types of Take Profit/Exit Ladder:

Scales is used for 2 to 10 exits as a ladder. You choose the high and the low exit price, the number of orders (steps), a Price Scale and a Size Scale (details below). Using these, Altrady will calculate the price and value of each of the intermediate steps for the Ladder.

Targets can be used for 1 to 10 exit targets, with the trader choosing the price (or percentage profit) and amount for each one.

The Take Profit / Exit Ladder can be combined with any Entry type: Standard, Stop Order, Trailing Stop or Ladder.

Create the Entry order first.

Click Smart Orders to open the Smart Order options

Click Take Profit / Exit Ladder to activate this option

Choose:

*Scales**: for a ladder order of 2 to 10 targets, where Altrady works out the sizes and prices of each target based on your chosen settings

or *Targets**: choose your own exit prices and sizes for 1 to 10 targets

Some exchanges have strict rate limits, which require Altrady to submit your orders over a period of time or across API signals. Ensure that you have any “Extra Keys” as required for your exchange to facilitate this process. At the time of writing, Poloniex and GDAX/Coinbase Pro require extra keys. If you have rate limit errors with your ladder orders, check the documentation for your exchange/s for how to add extra keys.

Scales

Scales: Order Details

Profit Volume: Choose the total amount of your Entry position to Exit—from 1% to 100%.

a) Type a number in the box OR

b) Drag the slider (from 0% to 100%) OR

c) Click one of the percentage presets below.

If using a Ladder ENTRY, initially the assumed position size for your Exit is based on your first Ladder step position size. As more entries are filled, your position size for each Exit will be increased.

Enter Start and End Price

You can specify the Start and End Prices in three ways:

Click the EyeDropper icon then click on a price in the chart to select that price.

Type the price in the box. To edit an existing price by overtyping, select the whole value first with the mouse or keyboard.

Choose from current prices: Bid, Ask or Last

Once a price is entered, you can also drag the Price Handle in the chart up or down to change the order price.

Select the number of orders for your Ladder, from 2 to 10.

Price Scale

Price scale offers 3 pre-defined options for spacing the orders between your Start and End price:

Linear: Equal spacing

Exponential: Order spacing is based on: 1:1:2:4:8:16 …. pattern. The tighter spacing is always closest to the Start Price, and wider spacing near the End price.

Fibonacci: Order spacing is based on the Fibonacci series. For 10 orders the distances between orders (from the Start price) is: 9%, 5.6%, 9%, 14.6%, 11.8%, 11.8%, 17%, 9.8%, 11.4%. When fewer than 10 orders are specified, there is a larger gap between the lower prices as levels are combined, e.g. for 8 orders: 9%, 5.6%, 9%, 14.6%, 11.8%, 11.8%, 38.2%. As for the Exponential option, since orders bunch towards the Start price, you can choose whether this should be the High or Low price for your Ladder.

Size Scale

The Size Scale option offers 5 presets for determining the size of each order in the Ladder.

These are:

Equal: the same amount will be used for each order

Linear: each order size is an equal amount greater than the previous order.

Linear Reverse: each order size is an equal amount less than the previous order.

Exponential: Each order is double the size of the previous order

Exponential Reverse: Each order is half the size of the previous order

With a large number of orders and/or small total exit order size, Exponential and Exponential reverse can result in very small orders, potentially too small to meet the minimum size required by the exchange. Check the order sizes on the price flags on the chart.

The amount to be exited in base currency (in this case, LTC) is shown on the left with the white background.

The value in the quote currency (in this case, BUSD) is shown on the right with the dark background. Since Binance has a minimum order size of BUSD10, these 3 orders would be rejected by the exchange. Note that this would not occur until after the Entry order has filled, and the Exit orders are placed.

Add any other Smart Order options, such as Stop Loss, Entry Expiry or Time-based Autoclose.

Then click: Place Order.

Targets

Targets Exit: Details

Target Price. Choose here whether you prefer to specify your Exits as a

Fixed price: input the actual prices (e.g. 1.107, 1.129, 1.149…).

Or Position %: input the percentage from the average Entry price where you wish to take profit (e.g. 5%, 10%)

Profit Volume (shortcut): Choose the total amount of your Entry position to Exit—from 1% to 100%.

a) Type a number in the box.

b) Drag the slider (from 0% to 100%) OR

c) Click one of the percentage presets below.

If using a Ladder ENTRY, initially the assumed position size for your Exit is based on your first Ladder step position size. As more entries are filled, your position size for each Exit will be increased.

Initially, one target will be visible. Click + Add Target to add as many additional targets as you need. By default, each target will be allocated an equal share of the total position.

Entering Targets using Profit Volume: Fixed Price

Choose your own prices for each exit target.

Targets: Price

For each Target you can specify a price in three ways:

a. Click the EyeDropper icon then click on a price in the chart to select that price.

b. Type the price in the box. To edit an existing price by overtyping, select the whole value first with the mouse or keyboard.

c. Choose from current prices: Bid, Ask or Last

Once a price is entered, you can also drag the Price Handle in the chart up or down to change the order price.

Any Target can be deleted by clicking** x Remove** next to it.

When a target is removed, the position percentages will all return to the default values, i.e. equally divided between targets.

Position % for each Target

By default, the amount of the position to be exited at each target will be equally divided between targets.

You can change the proportion to exit at each target by entering a number or dragging the slider. As you do this the Position % of all other targets will be adjusted to compensate.

The proportions are based on the amount of your position that you have decided to Exit, and will add up to 100%. They are rounded to the nearest whole number, and if the number of targets does not divide evenly into 100, the remainder will be added to the last target (e.g. for 3 targets: 33%, 33%, 34%)

Entering Targets using Profit Volume: Position %

Choose percentage profit for each exit target.

Targets: Price %

For each Target, choose the percentage profit. This can be entered in three ways:

a. Type the percentage profit in the Price % box. To edit an existing percentage by overtyping, select the whole value first with the mouse or keyboard.

b. Drag the percentage slider

c. Choose from the percentages shown under the slider (1%, 2% etc.)

Position % for each Target

The position percentages work in the same way whether you enter targets using Prices or Percentages.

By default, the amount of the position to be exited at each target will be equally divided between targets.

You can change the proportion to exit at each target by entering a number or dragging the slider. As you do this the Position % of all other targets will be adjusted to compensate.

The proportions are based on the amount of your position that you have decided to Exit, and will add up to 100%. They are rounded to the nearest whole number, and if the number of targets does not divide evenly into 100, the remainder will be added to the last target (e.g. for 3 targets: 33%, 33%, 34%)

Place the Order

Add any other Smart Order options, such as Stop Loss, Entry Expiry or Time-based Autoclose.

Then click: Place Order.

Take Profit / Exit Ladder is used to add one or more Exit Targets to a new Entry order, to create all-in-one or Smart Order (Buy then Sell or Sell then Buy).

Overview

There are two types of Take Profit/Exit Ladder:

Scales is used for 2 to 10 exits as a ladder. You choose the high and the low exit price, the number of orders (steps), a Price Scale and a Size Scale (details below). Using these, Altrady will calculate the price and value of each of the intermediate steps for the Ladder.

Targets can be used for 1 to 10 exit targets, with the trader choosing the price (or percentage profit) and amount for each one.

The Take Profit / Exit Ladder can be combined with any Entry type: Standard, Stop Order, Trailing Stop or Ladder.

Create the Entry order first.

Click Smart Orders to open the Smart Order options

Click Take Profit / Exit Ladder to activate this option

Choose:

*Scales**: for a ladder order of 2 to 10 targets, where Altrady works out the sizes and prices of each target based on your chosen settings

or *Targets**: choose your own exit prices and sizes for 1 to 10 targets

Some exchanges have strict rate limits, which require Altrady to submit your orders over a period of time or across API signals. Ensure that you have any “Extra Keys” as required for your exchange to facilitate this process. At the time of writing, Poloniex and GDAX/Coinbase Pro require extra keys. If you have rate limit errors with your ladder orders, check the documentation for your exchange/s for how to add extra keys.

Scales

Scales: Order Details

Profit Volume: Choose the total amount of your Entry position to Exit—from 1% to 100%.

a) Type a number in the box OR

b) Drag the slider (from 0% to 100%) OR

c) Click one of the percentage presets below.

If using a Ladder ENTRY, initially the assumed position size for your Exit is based on your first Ladder step position size. As more entries are filled, your position size for each Exit will be increased.

Enter Start and End Price

You can specify the Start and End Prices in three ways:

Click the EyeDropper icon then click on a price in the chart to select that price.

Type the price in the box. To edit an existing price by overtyping, select the whole value first with the mouse or keyboard.

Choose from current prices: Bid, Ask or Last

Once a price is entered, you can also drag the Price Handle in the chart up or down to change the order price.

Select the number of orders for your Ladder, from 2 to 10.

Price Scale

Price scale offers 3 pre-defined options for spacing the orders between your Start and End price:

Linear: Equal spacing

Exponential: Order spacing is based on: 1:1:2:4:8:16 …. pattern. The tighter spacing is always closest to the Start Price, and wider spacing near the End price.

Fibonacci: Order spacing is based on the Fibonacci series. For 10 orders the distances between orders (from the Start price) is: 9%, 5.6%, 9%, 14.6%, 11.8%, 11.8%, 17%, 9.8%, 11.4%. When fewer than 10 orders are specified, there is a larger gap between the lower prices as levels are combined, e.g. for 8 orders: 9%, 5.6%, 9%, 14.6%, 11.8%, 11.8%, 38.2%. As for the Exponential option, since orders bunch towards the Start price, you can choose whether this should be the High or Low price for your Ladder.

Size Scale

The Size Scale option offers 5 presets for determining the size of each order in the Ladder.

These are:

Equal: the same amount will be used for each order

Linear: each order size is an equal amount greater than the previous order.

Linear Reverse: each order size is an equal amount less than the previous order.

Exponential: Each order is double the size of the previous order

Exponential Reverse: Each order is half the size of the previous order

With a large number of orders and/or small total exit order size, Exponential and Exponential reverse can result in very small orders, potentially too small to meet the minimum size required by the exchange. Check the order sizes on the price flags on the chart.

The amount to be exited in base currency (in this case, LTC) is shown on the left with the white background.

The value in the quote currency (in this case, BUSD) is shown on the right with the dark background. Since Binance has a minimum order size of BUSD10, these 3 orders would be rejected by the exchange. Note that this would not occur until after the Entry order has filled, and the Exit orders are placed.

Add any other Smart Order options, such as Stop Loss, Entry Expiry or Time-based Autoclose.

Then click: Place Order.

Targets

Targets Exit: Details

Target Price. Choose here whether you prefer to specify your Exits as a

Fixed price: input the actual prices (e.g. 1.107, 1.129, 1.149…).

Or Position %: input the percentage from the average Entry price where you wish to take profit (e.g. 5%, 10%)

Profit Volume (shortcut): Choose the total amount of your Entry position to Exit—from 1% to 100%.

a) Type a number in the box.

b) Drag the slider (from 0% to 100%) OR

c) Click one of the percentage presets below.

If using a Ladder ENTRY, initially the assumed position size for your Exit is based on your first Ladder step position size. As more entries are filled, your position size for each Exit will be increased.

Initially, one target will be visible. Click + Add Target to add as many additional targets as you need. By default, each target will be allocated an equal share of the total position.

Entering Targets using Profit Volume: Fixed Price

Choose your own prices for each exit target.

Targets: Price

For each Target you can specify a price in three ways:

a. Click the EyeDropper icon then click on a price in the chart to select that price.

b. Type the price in the box. To edit an existing price by overtyping, select the whole value first with the mouse or keyboard.

c. Choose from current prices: Bid, Ask or Last

Once a price is entered, you can also drag the Price Handle in the chart up or down to change the order price.

Any Target can be deleted by clicking** x Remove** next to it.

When a target is removed, the position percentages will all return to the default values, i.e. equally divided between targets.

Position % for each Target

By default, the amount of the position to be exited at each target will be equally divided between targets.

You can change the proportion to exit at each target by entering a number or dragging the slider. As you do this the Position % of all other targets will be adjusted to compensate.

The proportions are based on the amount of your position that you have decided to Exit, and will add up to 100%. They are rounded to the nearest whole number, and if the number of targets does not divide evenly into 100, the remainder will be added to the last target (e.g. for 3 targets: 33%, 33%, 34%)

Entering Targets using Profit Volume: Position %

Choose percentage profit for each exit target.

Targets: Price %

For each Target, choose the percentage profit. This can be entered in three ways:

a. Type the percentage profit in the Price % box. To edit an existing percentage by overtyping, select the whole value first with the mouse or keyboard.

b. Drag the percentage slider

c. Choose from the percentages shown under the slider (1%, 2% etc.)

Position % for each Target

The position percentages work in the same way whether you enter targets using Prices or Percentages.

By default, the amount of the position to be exited at each target will be equally divided between targets.

You can change the proportion to exit at each target by entering a number or dragging the slider. As you do this the Position % of all other targets will be adjusted to compensate.

The proportions are based on the amount of your position that you have decided to Exit, and will add up to 100%. They are rounded to the nearest whole number, and if the number of targets does not divide evenly into 100, the remainder will be added to the last target (e.g. for 3 targets: 33%, 33%, 34%)

Place the Order

Add any other Smart Order options, such as Stop Loss, Entry Expiry or Time-based Autoclose.

Then click: Place Order.

Published on: 16 / 07 / 2021