VEMA's most requested feature is officially here!

Shortcut Links

Start Charting Screen
Adding Multiple Take Profits
Allocation
Average Risk to Reward

Review Screen:
Open Position
Journal Logs
Closed Position
Charts
Details

Start Charting Screen

To utilise multiple take profits for your trade, head to the take profit section of the trade setup panel.

Adding Multiple Take Profits

Here you'll now find the "+Add" button, allowing you to add up to 10 take profits! 

Each take profit is assigned a number based on the order from entry, and will show you the Risk to Reward it represents as a standalone take profit both on the left panel and on the chart, as outlined in yellow below.

Once you've added your take profits and placed them where they should go for this setup, the next step is allocating your position to them.

Allocation

Allocation refers to how much of your position to take profit on at each level, expressed as a percentage of total position size.

A trade with a single take profit has an allocation of 100%, as the entire position size will be exited at that level.

A trade with two take profits, with allocation evenly split, would mean both had a 50% allocation.

If your position size when that trade enters is then 250 contracts, VEMA would allocate 125 to each take profit.

The total position allocation, which should always add up to 100/100%, is shown in the white box above. You can also see the allocation per individual take profit in the left panel or on the chart, as shown above in the blue boxes.

You can see here, the allocation itself is in red text. 

This is because this trade currently has 300% allocated. Meaning more than the position size would have to be allocated.

VEMA will not let you submit a trade when allocation percentage is not equal to 100, and the text there will be red if over or under 100% of the position size is allocated, to alert you to the issue.

Luckily, we've also included a few super easy ways to allocate your position.

1. Split Evenly

This button, outlined in yellow in the above screenshot, simply allocates an even split across all your take profits. 

For two TP's, this means 50% each.
For three, 33%.
Four get 25% each and so on and so forth.

2. For Speed - The Slider Bar

The slider bar, outlined in blue in the above image, allows  you to simply slide to the amount you would like to allocate in increments of 5%.

This makes allocating say 50%, 25% & 25% to your three take profits quick and easy to do.

3. For Precision - The Type Box

The Type Box, outlined in white above, allows you to click and type the exact percentage you want to allocate, down to the decimals. 

Useful if you want to allocate 31.41% to a certain take profit.

 

Average Risk to Reward

VEMA's Risk to Reward and Risk to Reward with Fees estimates will now represent the trade as a whole.

Meaning the Risk to Reward you would achieve on this trade if all your take profits were to be hit with their assigned allocation.

This is done by taking all your take profits, weighting them by the allocation assigned, and finding the average exit price and subsequent Risk to Reward it represents.

You'll notice the indicative entry line now also shows your average Risk to Reward for the trade setup.

 

Review Screen

Open Position

Take profits that have been hit will now switch to a solid order line, in a darker green shade.

This makes them easy to distinguish from take profits that are yet to be triggered, which will show in the traditional lighter green and dashed order line.

You'll also find when you move your stop loss, we show your initial stop loss placement to make visualising your trade setup easier then ever!

 

The details panel will also outline whether take profits have been triggered or not, as shown here:

 

Journal Logs

The journal will now log when take profits are triggered:

 

It will also log when not all take profits could be placed due to exchange minimum position sizes.

This occurs when a position size (divided by minimum contract size) is less than the number of take profits.

 

For example, XBTUSD has a minimum position size of 100.

In the below example, I set 3 take profits of 33%, but when VEMA went to enter my risk allocations meant a 100 position size. 

VEMA cannot split this into 3, as each amount would be smaller than the minimum order of 100, so it allocates the 100 to the take profit closest to entry, and cancels the other two,

 

Closed Position

Charts

The review screen charts will now look a little different.

Filled orders will be represented by solid lines, as shown with the take profits in the above trade.

Unfilled orders, like the stop loss for that position, will be represented by a dashed line.

The green box will now show the average exit price for the trade, with the green value (2.74% in the above trade) still representing account growth.

An entry line has now been added, and is shown in the blue, to make visualising your setup easier.

Another effort to aid this is that now your stops and all take profits will be shown on the chart, regardless of whether they where hit or not.

VEMA will now also show you where your initial stop loss order was, even after you move it!

Details

On the left panel, you'll now see all of your take profits, as well as the details around whether they where filled or not, and the allocation.

It's important to understand, the allocation may not always exactly match what was set. Here I split evenly across 5 take profits, meaning 20% assigned to each. Yet my actual allocation was four take profits of 20.04% and a fifth only getting 19.86

The reason for this is position sizing. Exchanges only allow orders to be allocated in lot sizes.

BitMEX XBTUSD is a good example, it's lot sizes are in batches of 100.

If I take a trade for 500 contracts, then split that 50% over two take profits, it's impossible to actually set a take profit for 250 contracts as that isn't a multiple of 100.

What VEMA will do in these situations is always round up on the take profits closest to entry, in this  case TP1 would get assigned 300 for 60%, and TP2 would get the remaining 40% for 200 contracts.

So in my example above, VEMA had to divide 1672 contracts by 5, which doesn't go evenly. VEMA then rounded up to 20.04% for the first four take profits, then allocated the remaining 19,86% to TP5 in a bid to get as close to 20% allocated to each as possible.