• 2 min read

Take Profit and Stop Loss Instructions

1. Basic Concepts • Take Profit (TP): When the market price moves in a favorable direction and reaches the preset profit target, the system automatically closes the position at market price to lock in profits. • Stop Loss (SL): When the market price moves in an unfavorable direction and reaches the preset loss limit, the system automatically closes the position at market price to prevent further losses.

2. Parameter Descriptions • Trigger Price: When the latest market price reaches the set trigger price, the system triggers the TP/SL order. • Order Price: After being triggered, the system places an order at the set order price and closes the position at market price. During periods of high market volatility, the actual execution price may deviate slightly from the order price.

3. Operational Process

  1. Set the Trigger Price.
  2. When the market price reaches the Trigger Price, the system automatically submits a closing order.
  3. When TP is triggered, the system closes the position at market price to secure profits.
  4. When SL is triggered, the system closes the position at market price to limit losses.

 

TP/SL in Position-Combined Mode

(1) Full Position TP/SL • Applies to unified TP/SL settings for all orders under the Position-Combined mode; the entire position is closed upon triggering. • When updating Full Position TP/SL, the system automatically cancels the original TP/SL parameters. Note: • New orders apply to Full Position TP/SL by default; once triggered, the entire position will be closed.

(2) Partial Position TP/SL • Allows setting TP/SL by percentage or specific quantity to achieve partial closing of positions. • Each TP/SL order exists independently and does not affect other orders. • After updating Partial Position TP/SL, original orders must be manually canceled to avoid duplicate orders.

Note: Circumstances where TP/SL is canceled

  1. Forced Liquidation or Deleveraging Triggered If the position triggers forced liquidation or deleveraging before TP/SL is reached, the TP/SL will be automatically canceled.
  2. Simultaneous TP and SL Settings When both TP and SL are set, if one is triggered, the other is automatically canceled. Note: If your position already has limit closing orders occupying the available quantity, resulting in no remaining closable quantity, the system will be unable to execute the TP/SL order.

• Please check orders regularly to avoid unnecessary losses due to duplicate settings.

Trading Risk Warning • Setting reasonable TP/SL can effectively manage market volatility risks; it is recommended to adjust strategies based on market conditions. • Extreme market volatility may occur, and the execution price of market TP/SL may deviate from the preset price; please evaluate risks reasonably.