đĢTP/SL & Stop-Market
Learn how to use trigger orders such as take profit, stop loss and stop-market.
Last updated
Learn how to use trigger orders such as take profit, stop loss and stop-market.
Last updated
1CT is Required: You need to enable One-Click Trading to make use of trigger orders.
Traders can set Take Profit (TP) and Stop Loss (SL) order for perp positions.
âšī¸ 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.
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).
Navigate to your perp positions.
Click on the âī¸ beside your position's TP / SL.
Click on [Cancel] for the TP / SL you want to 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.
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).
NOTE: Stop-market orders are NOT reduce-only and will NOT auto-cancel, meaning that if you place a stop-market for an existing position and change the position before the trigger is reached, then the stop-market can still execute leaving you with an unwanted position
REMEMBER to cancel any unwanted stop-market orders when making changes to positions.
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 Buy or Sell button if everything looks good.
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.
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.
