What is Take-Profit and Stop-Loss (TP/SL)?
With Take-Profit and Stop-Loss (TP/SL), you can preset the stop price for the current position, so when the market price reaches the preset stop price, your positions will be market closed as market orders.
Effectiveness of TP/SL
1. Each TP/SL setting will only be triggered once, even when it only closes part of your position. As soon as the TP/SL setting takes effect, the previous TP/SL price will be reset as 0, invalid for the remaining positions. Meanwhile, you can once more preset TP/SL setting for your remaining positions.
2. In the same position, if you have preset to take profit and stop loss at the same time, as long as one of them is triggered but not completely closed, the other will still be invalid.
E.g. Assuming that you have 10 BTCUSDT contracts, all set for TP and SL. When the TP setting is triggered and 5 contracts are closed, the original SL setting will be invalid for the remaining 5 contracts.
|Position Type||Stop price||TP/SL|
|Long||Stop price > Current price||TP|
|Liq. price<= Stop price <= Current price||SL|
|Short||Stop price < Current price||TP|
|Current price <= Stop price <= Liq. price||SL|
Note: After the market price reaches the preset stop price, your order will be executed by the logic of the market order using Auction-style Liquidation Strategy. If the TP price you set is too high for a long position or too low for a short position, it may never be executed, since the market can't reach or exceed the preset price.
How to Set a TP/SL Order
1. Click [TP/SL] in the current position.
2. Set the stop price within the range required.
3. Click [TP/SL] to view your preset TP/SL orders.
4. After the TP/SL order is triggered or canceled, you can view these orders in [Order History].