What is Take-Profit and Stop-Loss (TP/SL)?
With Take-Profit and Stop-Loss (TP/SL), you can preset the trigger price for the current position. When the market price hits the preset trigger price, the system will post market orders to close your position.
TP/SL Triggering Rules
1. TP/SL will ONLY be triggered once. It is still considered successful even if the position is partially closed, in which case the original TP/SL prices will be reset to 0 and become invalid for the remaining position. But you can set TP/SL again for the remaining position.
2. If TP and SL are both set for the same position, triggering one of them will invalidate the other even if the position is only partially closed.
For example, you bought 10 BTCUSDT contracts with TP and SL both set. If TP is triggered and only 5 contracts are sold, the original SL setting will be invalid for the remaining 5 contracts.
Take-Profit/Stop-Loss (TP/SL) Price Limit
|Position Type||Trigger Price||TP/SL|
|Long||Trigger price > Current price||TP|
|Trigger price < Current price||SL|
|Short||Trigger price < Current price||TP|
|Trigger price > Current price||SL|
Note: After the market price reaches the preset trigger price, the system will use Auction-style Liquidation Strategy and submit a market order to close the position. However, if the TP trigger price is too high (long) or too low (short), the market price may never hit the preset price and thus the order will not be executed.
How to Set TP/SL
1. Click the edit button under [TP/SL] in [Current Position].
2. Select price types, set the trigger prices according to the price limit, and click [Confirm].
3. Click the edit button under [TP/SL] to check the details.
4. After the TP/SL order is successfully triggered, you can check the orders in [Order History].