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Take-Profit & 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 profit.
  • Stop Loss (SL): When the market price moves unfavorably and reaches the preset loss limit, the system automatically closes the position at market price to prevent further losses.

2. Parameter Explanation

  • Trigger Price: The price at which the system activates the TP/SL order once reached.
  • Order Price: After triggered, the system places an order at the set price, executed at market price. Actual fill price may differ slightly during volatility.

3. Operation Process

  1. Set trigger price.
  2. When market price reaches trigger price, the system submits a closing order.
  3. On TP trigger, position is closed at market to secure profit.
  4. On SL trigger, position is closed at market to limit loss.

TP/SL under Merged Position Mode

(1) Full-Position TP/SL

  • Applies one unified TP/SL for all positions in merged mode; triggers full liquidation.
  • Updating full-position TP/SL cancels prior settings.
    ⚠️ Note: New orders default to full-position TP/SL. Once triggered, all positions are closed.

(2) Partial TP/SL

  • Allows setting TP/SL by percentage or specific quantity for staged closing.
  • Each order is independent and does not affect others.
  • Updating requires manual cancellation of prior orders to avoid duplicates.

⚠️ TP/SL cancellation conditions:

  1. Forced liquidation or partial reduction before trigger cancels TP/SL.
  2. If both TP and SL are set, triggering one cancels the other.
  3. If limit close orders already occupy position quantity, TP/SL cannot execute.

Risk Reminder

  • Proper TP/SL settings help manage volatility risk. Adjust strategies based on market.
  • Market may fluctuate sharply; execution price may deviate from preset. Assess risk carefully.