Setting Take-Profit and Stop-Loss Levels by Percentage

Summary

This brief describes a trading utility that changes the take-profit and stop-loss settings on all open orders using an input percentage. It is an order-management procedure rather than an entry or exit strategy: the user supplies the percentage and the expert applies the corresponding levels to existing positions.

The document states that the adjustment works accurately only when all open orders are for the same symbol. It also requires the user to set a leverage value consistent with the account's leverage and to load the chart for the specific symbol. No formula for translating the percentage into prices, example trade, instrument-specific handling, or performance evidence is provided. As a result, the note explains the tool's basic operating constraints but does not establish how the percentage should be chosen or whether this approach suits a particular risk profile.

Key ideas

• The utility applies percentage-based take-profit and stop-loss settings to all open orders.
• The document says all open orders should be for the same symbol for accurate changes.
• The user must provide a leverage value that corresponds to the account's leverage.
• The symbol's chart must be loaded, and the note does not explain how to choose the percentage.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.