Allow take profit below average entry price
When using CBS based signal bots, it happens (unfortunately too often) that one coin will never sell at TP1 or TP2, as set by the CBS signal. For such coins, if it appears to be worthwhile, I go into the trading terminal, and "increase" the position, effectly adding another DCA buy.
The DCA buy lowers the average price and break even price, and I would delete TP2, setting TP1 just 1% average price because that makes it more likely the DCA buy will turn this trade into a profit.
My PROBLEM: If TP1 was met, break even price is well below average entry price and I would prefer to set (the remaining) TP2 to be 1% above break even. However, the UI insists that all TPs have to be above the (higher) average entry price which makes it less likely to be reached ever again.
All I can do is watch that coin and close manually if price reaches break even - which could take days.
Alternatively, I could turn the bot's position into a manual position and add fresh take profit and stop loss settings. I've tried that and it works, but the CBS bot will then treat it as closed with a substantial loss even if I managed to win it back with the DCA buy in a manual position ... which will set off my statistics in a frustrating way. So this is not a good alternative either.
Suggested about 1 month ago
3 comments
[email protected]
Hi,
This should only be the case on % based take profits. On fixed price you should be able to place it below the break even.
about 1 month ago
[email protected]
Oh, thanks for the tip. Indeed, when I switch to "fixed price" I can set it anywhere. Before, I was also dragging the handle in the chart and thought that would imply a fixed price setting.
about 1 month ago
[email protected]
Sorry for coming back on this ... now I understand my problem better:
When a position was created by a CBS signal bot and TP1 was taken, the position editing dialog in the Trading Terminal is locked to "Entry Price %" mode and I cannot switch it to "Fixed Price" mode anymore.
This prevents me from applying your suggestion and taking the remaining TP2 to below the AEP (just above the BEP).
Edit: I've found that if I turn the "Take profit" toggle off and on, the lock on "Entry Price %" vanishes and I can set the TP as a fixed price. However, the position seems to have forgotten about TP1 which was taken previously. And I wouldn't want to do anything that confuses the CBS bot's profit calculation. So not sure this trick is the right thing to do in such case.
about 1 month ago