🔫TP/SL & Stop-Market
Learn how to use trigger orders such as take profit, stop loss and stop-market.
Take Profit & Stop Loss
Traders can set Take Profit (TP) and Stop Loss (SL) order for perp positions.
ℹ️ Before reading this tutorial please note:
TP / SL can only be set for the entire size of your position.
TP / SL orders will auto-cancel if you add or reduce to a position's size.
How to Set a TP/SL Orders
You set TP / SL using the perp position table below the trading chart and on the portfolio.
Click + Add under the TP / SL column for the position.
A pop-up will open.
Set your TP / SL trigger price. You have 2 options:
Last Price: the TP / SL will trigger when it reaches the last traded price.
Oracle Price: The TP / SL will trigger when the Oracle reaches that price.
You can also use the % buttons which will enter a prices based on your desired % PnL.
After entering the price you will see the estimated PnL if the trigger executes.
Click the [Place Take Profit] or [Place Stop Loss] button.
Sign the transaction (unless you have 1CT enabled in which you won't need to sign).
How to Cancel TP / SL
Navigate to your perp positions.
Click on the ✏️ beside your position's TP / SL.
Click on [Cancel] for the TP / SL you want to cancel.
TP / SL Auto-Cancel
Your TP / SL orders will automatically cancel if you increase or decrease the position size:
If you have a TP / SL set for a position and place a trade for that market.
If you market close any portion of that position.
If your TP / SL auto-cancels due to the above, you will need to re-create the orders.
Stop Market Orders
A stop-market order is a type of trigger order that lets you to set a specific price (the trigger) that will trigger a market order. They can be used to close existing positions (a manual stop-loss) or to open new positions (stop-entry).
REMEMBER to cancel any unwanted stop-market orders when making changes to positions.
How to place Stop-Market Orders
Select Stop Market as the order type (beside Limit).
Enter the trade details:
Trigger Price: The market order will trigger at this price.
Order Size: The amount to buy / sell.
Click on the
BuyorSellbutton if everything looks good.
How to Cancel Your Stop-Market Order
Navigate to the Trigger Orders table under the price chart on trading pages or Orders page on the portfolio.
Click on the [Cancel] button for the order you want to cancel.
Stop-Market Orders Do NOT Auto-Cancel
Example:
If you set a stop-market order as a manual stop-loss but reduce the position before the trigger is reached, then the stop-market can still execute and leave you with an unwanted position.
If you set a stop-market order as a manual stop-entry but enter the position before the trigger is reached, the stop-market can still execute leaving you with an unwanted position.
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