Learn how to manage multiple entries with unique stop-loss and take-profit levels in TradersPost by enabling the Add to Position setting for seamless strategy execution.
TradersPost supports advanced trading strategies where multiple entries, each with independent take profit and stop-loss levels, can coexist within the same account. This guide explains how to set up and manage such strategies, ensuring seamless execution without interference between trades.
Key Features for Multiple Entries
Independent Take Profit and Stop Loss
Each entry can have its own unique take profit and stop-loss levels.
If a stop loss is hit for one trade, it does not affect the others.
Multiple Active Orders
You can place multiple limit or stop-limit orders simultaneously at different prices.
Each executed order creates a separate position with its own exit parameters.
Add to Position Setting
To enable multiple entries, ensure the Allow Add to Position option is checked in your strategy subscription settings.
This setting allows TradersPost to process additional entries without rejecting them.
How It Works
Example Scenario
First Entry:
Entry Price: $100
Take Profit: $110
Stop Loss: $95
Second Entry:
Entry Price: $105
Take Profit: $115
Stop Loss: $100
Execution Flow:
If the stop loss for the first entry ($95) is hit, the trade closes without affecting the second entry.
The second entry remains active and continues to follow its defined parameters until its stop-loss or take-profit level is triggered.
Steps to Set Up Multiple Entries
1. Enable Add to Position
Navigate to your strategy subscription settings in TradersPost.
Check the box for Allow Add to Position.
Save the configuration.
2. Define Independent Parameters
Ensure each entry signal includes unique take profit and stop-loss levels in the JSON payload.
Track active orders to ensure each has its own exit parameters. Adjust stop-loss or take-profit levels if necessary.
Benefits of This Approach
Flexibility in Strategy Execution
Manage trades independently without combining positions into a single average.
Precision in Risk Management
Tailor stop-loss and take-profit levels to individual entries based on market conditions.
Scalability
Supports scaling into a position with different price levels and exit conditions.
Conclusion
Managing multiple entries with independent take profit and stop-loss levels in TradersPost offers traders unparalleled flexibility and control. By enabling the Add to Position option and carefully configuring exit parameters for each trade, you can execute complex strategies without worrying about interference between positions.
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