The crypto market provides a non-stop 24/7 trading service. Rational use of take-profit and stop-loss can help you control risk effectively. This article aims to introduce CoinEx TP/SL function and explain under what conditions your TP/SL orders will be canceled. We hope that you‘ll be able to make a best-fit TP/SL strategy by acknowledging the details below.
TP/SL will be canceled under the below 2 situations:
Situation 1: TP/SL not triggered or executed in time due to rapid market fluctuations
In the event of high volatility, the market price may deviate from the TP/SL trigger price significantly, causing failure to trigger TP/SL or fill the TP/SL order.
(1) Take Profit & Stop Loss will ONLY be triggered once. If the position is not fully closed due to market fluctuations, the original TP/SL settings will be invalid for the remaining position. In this case, you will need to set a new trigger price for the rest.
(2) Suppose you set both TP and SL for the same position, when one of them is triggered, the other will be canceled automatically. If TP/SL is triggered but the position is not fully closed, the original TP/SL settings will NOT apply to the remaining position.
Situation 2: Auto-Deleveraging or Forced Liquidation triggered while TP/SL is ongoing
Once TP/SL is triggered, the Auction-style Liquidation Strategy will be executed immediately. If Forced Liquidation or Auto-Deleveraging is triggered during the process, the Auction-style Liquidation Strategy will end, and Forced Liquidation or Auto-Deleveraging comes into play.