Take profit and dip buys

#Take profit

A position sells a slice each time its profit on margin climbs by the preset's step. After the first slice the next trigger is one step higher, and so on.

Example, Balanced, 3x long. The step is +25% on margin and the slice is 20% of the position:

1. The position is up 25% on margin: sell 20% of it. The margin released for that slice, plus its profit, goes to the coin's account.
2. It is up 50%: sell 20% of what is left.
3. It is up 75%: sell 20% of what is left, and so on.

Each slice is a real fill. The profit realised in a slice goes to the loss book first, see Where profit goes.

#Dip buys

The reserve is split into up to six resting limit buys, spread from the entry toward the liquidation price. The levels are evenly spaced, the last one sitting 72% of the way to liquidation. The deeper levels carry more of the reserve, in the weights 1 : 2 : 3 : 4 for four buys.

Example, Balanced (four dip buys), 3x long from an entry of 1.000. With a 1.2% maintenance margin, liquidation is at 0.679. The four buys rest at about 0.942, 0.884, 0.826 and 0.769, with 10%, 20%, 30% and 40% of the reserve.

Each buy that fills adds margin to the position at that price. The entry price becomes the size-weighted average, so it moves down, and so does the liquidation price. Buys that did not fill stay where they are when the price recovers.

#There is no stop order

The desk does not place a stop above the liquidation price. If the price reaches liquidation, the position is closed by the venue and the margin is lost. The creator can close the whole position at any time with the emergency exit, and the vault keeps the exposure under margin × leverage on every order. See The vault and the venue.

#Degen has neither

Degen has no dip buys and takes profit rarely. That is the point of the preset: all fees go into one position and it either runs or it does not.