Exits: Scale-Outs, Brackets and Trailing Stops

In both the Order Ticket and the Trading Pad, an Exit Style pane is available on the right:

 

The various exits allow you to set several Profit Targets and manage your Loss. These exits may be linked to a market entry order, in which case they are activated only upon the entry order being filled, or they may be used to cover open positions, or they may be stand-alone orders.

The Trailing Stop is an advanced feature of the Bracket. This feature allows you to change the Stop Loss value dynamically as the price changes, thus enabling you to lock your profits or reduce your potential loss.

 

Table below summarizes the exit types:

Table 4.3: Exit Types

ID	Exit Type	Exit Functionality	Exit Style Name
1	Bracket	One profit Target and one Stop Loss are placed. In the case of a partial fill of one of the orders, the number of lots for the reciprocal order is updated accordingly.	Bracket
2	Bracket & Trailing Stop	The Trailing Stop is an advanced feature of the Bracket. This feature allows you to change the Stop Loss value dynamically as the price changes, thus enabling you to reduce your potential loss. Supports partial fill.	Bracket (with Trailing Stop checked)
3	Exit with Market on Time & Trailing Stop	This feature allows you to change the Stop Loss value dynamically as the price changes, thus enabling you to lock up the profits and/or reduce your potential loss. Exit your position with Stop Loss order or with Market Order at the End Time.	Exit_MOT_TS
4	Scale Out with 2 Targets	Two Profit Targets and one Stop Loss are placed to provide this simplest scale out.	ScaleOut2Targets
5	Scale Out with 2 Targets & Break Even	Once the first Profit Target is filled, the number of lots for the Stop Loss is updated, and it is moved to the break-even point.	ScaleOut2Targets (with Break Even checked)
6	Scale Out with 2 Targets Lots	Two Profit Targets and one Stop Loss are placed to provide this scale out. You can define how many lots will be placed on each of profit target orders. Break Even option is also available.	ScaleOut2Targets _Lots
7	Scale Out with 2 Targets & Trailing Stop	Scale Out with two Profit Targets and Trailing Stop.	ScaleOut2Targets _TS
8	Scale Out with 2 Targets Lots & Trailing Stop	Scale Out with two Profit Targets, number of lots for each Profit Target with Trailing Stop.	ScaleOut2Targets _Lots_TS
9	Scale Out with 3 Targets	Three Profit Targets and one Stop Loss are placed, and as the Profit Targets are filled, the number of lots for the Stop Loss is updated accordingly.	ScaleOut3Targets
10	Scale Out with 3 Targets & Break Even	Once first Profit Target is filled, the number of lots for the Stop Loss is updated, and it is moved it to the break-even point. If the Second Profit Target is filled, the number of lots for the Stop Loss is updated again, and it is moved it to the level of the first Profit Target.	ScaleOut3Targets (with Break Even checked)
11	Scale Out with 3 Targets Lots	Three Profit Targets and one Stop Loss are placed to provide this scale out. You can define how many lots will be placed on each of profit target orders. Break Even option is also available.	ScaleOut3Targets _Lots
12	Scale Out with 3 Targets & Trailing Stop	Scale Out with three Profit Targets and Trailing Stop.	ScaleOut3Targets _TS
13	Scale Out with 3 Targets Lots & Trailing Stop	Scale Out with three Profit Targets, number of lots for each Profit Target and Trailing Stop.	ScaleOut3Targets _Lots_TS

Below is a description of each exit type, and how to use it.

 

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