Command Keys
Take Profit Management
Take Profit Management
The third row of Command Keys manages your take profit levels. Use these to set exit targets based on breakeven, entry prices, or risk-reward ratios.
TP at Breakeven (TP→BE)
Sets take profit at the breakeven price for all positions. This closes your net position at zero profit or loss.
When To Use It
TP→BE is useful when you want to exit a trade at no loss if price returns to your average entry. It's typically used when:
- You're uncertain about the trade direction
- You want to close at zero before a news event
- You're managing a position that's moved against you
Validation Rules
| Direction | Condition Required |
|---|---|
| BUY | Current price must be below breakeven (price needs room to rise to TP) |
| SELL | Current price must be above breakeven (price needs room to fall to TP) |
Note
TP→BE is the opposite condition of SL→BE. For buys, SL→BE requires price above breakeven, while TP→BE requires price below breakeven — because TP is placed ahead of price, not behind it.
TP at Entry (TP→ENTRY)
Sets take profit at each position's individual entry price. Each position gets its TP at its own entry price, not the combined breakeven.
Validation Rules
- BUY: Current price must be below the entry price
- SELL: Current price must be above the entry price
This means the trade must currently be in loss for the TP to be placed at entry (so price has room to return to entry and trigger the TP).
TP at Risk-Reward (TP R:R)
Automatically calculates and sets take profit based on a risk-reward ratio.
How It Works
- Click TP R:R
- Select your desired risk-reward ratio (e.g., 1:1, 1:2, 1:3 or custom)
- TradeTorq calculates the TP based on your risk (distance from breakeven to stop loss)
The Formula
Risk = |Breakeven − Stop Loss| (in pips)
TP = Breakeven ± (Risk × RR Ratio)
For BUY positions: TP = Breakeven + (Risk × Ratio) For SELL positions: TP = Breakeven − (Risk × Ratio)
Example
Suppose your positions have:
- Breakeven = 4500
- Stop Loss = 4440
- Risk = 60 pips
| Ratio | TP Calculation | TP Price |
|---|---|---|
| 1:1 | 4500 + 60 | 4560 |
| 1:2 | 4500 + 120 | 4620 |
| 1:3 | 4500 + 180 | 4680 |
TP at R:R — BUY Example (Risk = 60 pips)
Stop loss required
TP R:R requires a stop loss to be set on your positions. Without a stop loss, there's no "risk" to calculate the reward against, and the command will fail.
Move TP
Moves the take profit to a specific price or pip offset from breakeven.
Two Modes
Price Mode:
- Enter an exact price (e.g., 4600)
- Take profit for all positions is set to that price
Pips Mode:
- Enter a pip offset from breakeven
- For BUY: TP = breakeven + pips (above breakeven)
- For SELL: TP = breakeven − pips (below breakeven)
Example (Pips Mode, BUY):
- Breakeven = 4500
- You specify 80 pips above breakeven
- TP is set to 4500 + 80 = 4580
Note
Move TP gives you full control over TP placement. Use it when the pre-calculated R:R levels don't match your analysis, or when you want to set TP at a specific support/resistance level.