Description: Four orders are set: three Profit Targets and a Stop Loss with triple the number of Profit lots. Once Profit Target 1 is filled, the number of lots for the Stop Loss is reduced accordingly. Then, once Profit Target 2 is filled, the number of lots for the Stop Loss is again reduced accordingly. Alternatively, if the Stop Loss is filled, the remaining Profit Targets are canceled.
Parameters: Profit Target 1, Profit Target 2, Profit Target 3 and Stop Loss are defined in points.
Figure 4.9: Two possible scenarios of execution of Scale Out with three targets.
One version of this exit (ScaleOut3Targets) automatically allocates the number of lots equally (or as close as possible) between the three profit targets. The second version of this exit (ScaleOut3Targets_Lots) allows you to set the number of lots for each Target manually. In this case, you may set any number of lots.
NOTE: If you use the second version of this scale-out, the total number of lots allocated to the Targets may be different than the total number of lots to be covered. The Stop Loss order will still be for the total number of lots.
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