Time-Based Partial Take Profit

Disclaimer: Trading involves significant financial risk and can result in substantial losses. Past performance does not guarantee future results. SageMaster does not provide financial advice. Users should ensure compliance with local regulations.

Written By Ehsaan XP

Last updated 7 months ago

About

The Time-Based Take Profit (TP) and Partial Close feature helps traders manage their positions more effectively by adjusting partial close levels based on elapsed time. This solves the problem of missed profit opportunities due to static targets and market delays. It provides:

  1. Forex markets are more active at certain times (like when London or New York sessions are open). If your trade hasn't hit its profit target during these busy times, it might not go much further. Exiting based on time helps you lock in what you have.

  2. The longer you hold a trade, the more chances for the market to go against you. Time-based take profit ensures you donโ€™t hold a trade longer than necessary.

  3. When the market is closed or quiet, news can cause surprise moves. Exiting after a certain time helps you avoid these unpredictable events.

  4. It helps you stay disciplined and avoid the emotional trap of hoping for more profit when the market isn't moving as expected.

  5. Some brokers charge fees for holding trades overnight. A time-based exit can help avoid these extra costs.

  6. If youโ€™re trading short-term (like day trading or scalping), timing your exit helps you stick to the plan and avoid unnecessary risks.

Setting Up Time-Based Partial Close Levels

Step 1: Access Strategy Settings

  1. Navigate to the Strategy settings.

  2. Open the Partial Close section.

Step 2: Configure Partial Close Levels

  1. Choose the type of partial close you want to use.

  2. Add your first partial close level.

  3. Add your first time-based level.

Step 3: Define Expiration and Adjustments

For each time-based partial close level:

  • Set the time of expiration.

  • Specify the new level value to be applied after expiration.

Important Notes:

  • The new level value must be lower than the initial value.

  • For Classical Partial Close, time-based levels are set in pips/points.

  • For Smart Partial Close, time-based levels are set in % from the initial partial close level.

  • For each partial close level, a maximum of 5 five time-based levels (conditions) can be added.

Key Benefits

  • Gain control over how partial close levels evolve over time.

  • Adapt your strategy dynamically to market conditions.

This feature helps to provide flexibility and precision in managing your trading positions.

Use Case Examples

Classical Partial Close and Time-Based Take Profit in Pips

  1. User Settings:

    1. SL/TP Type: Same as Provider

    2. Partial Take Profits:

      1. Level 1: Distance From Open: 15 pips, Close Percentage: 20%

      2. Time: 45 min, New Level: 10 pips

      3. Level 2: Distance From Open: 25 pips, Close Percentage: 40%

      4. Time: 90 min, New Level: 15 pips

  2. Signal Parameters: Buy EURUSD, open price 1.1000, TP: 1.040 ( 40 pips), SL: 0.9700 (30 pips)

  3. Order parameters: TP - 40 pips, SL - 30 pips, Lot size - 1.

  4. Outcome:

    1. Case 1: In 30 min, the order is in profit of 9 pips:

      1. Nothing has been changed

    2. Case 2: In 46 min, the order still has not reached 15 pips profit:

      1. The first partial close level is updated to Distance From Open: 10 pips, Close Percentage: 20%

    3. Case 3: In 10 min, the order has reached a profit of 15 pips:

      1. The 20 % (0.2 lot) of the order was closed as the first partial close level was reached. If the order doesnโ€™t get the profit of 25 pips in 90 min after opening, the second partial close level will be updated to: Distance From Open: 15 pips, Close Percentage: 40%.

      2. In case of reaching the second partial close level of 25 pips before 90 min, the additional 40% (0.4 lot) from the position will be closed, and the orders will be waiting to reach the final TP of 40 pips (40% from the initial position that is left) or - 30 pips SL (40% from the initial position that is left)

Smart Partial Close and Time-Based Take Profit in %

  1. User Settings:

    1. SL/TP Type: Fixed SL 30 pips and Fixed TP 90 pips

    2. Partial Take Profits:

      1. Close Percentage: 20%

      2. Time: 45 min, New Level: 50 %

      3. Close Percentage: 40%

      4. Time: 90 min, New Level: 70 %

  2. Signal Parameters: Sell EURUSD, open price 1.1000, TP: 0.9600 ( 40 pips), SL: 1.1130(30 pips)

  3. Order parameters: TP - 90 pips, SL - 30 pips, Lot size - 1.

    1. Partial close levels:

      1. Level 1: Distance From Open: 30 pips ( 90/3=30), Close Percentage: 20%

      2. Time: 45 min, New Level: 15 pips ( 50 % from 30)

      3. Level 2: Distance From Open: 60 pips (30 + 30), Close Percentage: 40%

      4. Time: 90 min, New Level: 42 pips ( 70 % from 60)

  4. Outcome:

    1. Case 1: In 30 min, the order is in profit of 9 pips:

      1. Nothing has been changed

    2. Case 2: In 46 min, the order still has not reached 30 pips profit:

      1. The first partial close level is updated to Distance From Open: 15 pips, Close Percentage: 20%

    3. Case 3: In 10 min, the order has reached a profit of 30 pips:

      1. The 20 % (0.2 lot) of the order was closed as the first partial close level was reached. If the order doesnโ€™t get the profit of 60 pips in 90 min after opening, the second partial close level will be updated to: Distance From Open: 42 pips, Close Percentage: 40%.

      2. In case of reaching the second partial close level of 60 pips before 90 min, the additional 40% (0.4 lot) from the position will be closed, and the orders will be waiting to reach the final TP of 90 pips (40% from the initial position that is left) or - 30 pips SL (40% from the initial position that is left)

Classical Partial Close and Time-Based Take Profit in Pips (time-based not for all levels)

  1. Classical Partial Close and Time-Based Take Profit in Pips:

    1. User Settings:

      1. SL/TP Type: Same as Provider

      2. Partial Take Profits:

        1. Level 1: Distance From Open: 15 pips, Close Percentage: 20%

        2. Level 2: Distance From Open: 25 pips, Close Percentage: 40%

          1. Time: 90 min, New Level: 20 pips

    2. Signal Parameters: Buy EURUSD, open price 1.1000, TP: 1.040 ( 40 pips), SL: 0.9700 (30 pips)

    3. Order parameters: TP - 40 pips, SL - 30 pips, Lot size - 1.

    4. Outcome:

      1. Case 1: In 30 min, the order is in profit of 9 pips:

        1. Nothing has been changed

      2. Case 2: In 46 min, the order still has not reached 15 pips profit:

        1. Nothing has been changed

      3. Case 3: In 10 min, the order has reached a profit of 15 pips:

        1. If the order doesnโ€™t get the profit of 25 pips in 90 min after opening, the second partial close level will be updated to: Distance From Open: 20 pips, Close Percentage: 40%.

        2. In case of reaching the second partial close level of 25 pips before 90 min, the additional 40% (0.4 lot) from the position will be closed, and the orders will be waiting to reach the final TP of 40 pips (40% from the initial position that is left) or - 30 pips SL (40% from the initial position that is left)