Can I set stop loss and take profit at the same time?
Take-profit and stop-loss order refers to a position-closing order with preset trigger conditions (trigger price of take-profit or stop-loss order) and price. When the latest price reaches the preset trigger price, the system will place a position-closing order based on the pre-set price and amount, so as to take profit or stop loss. Currently, there are two methods to place a take-profit and stop-loss order:
Notes:
【Web】 Example 1: Set a take-profit and stop-loss order when opening a position Tom thinks recently the key support will be near 22,000USD, so he can buy to open long positions. At this time, he can set a limit order and a take-profit and stop-loss order at the same time. Assume the buying price of limit order is 22000USD and the quantity is 100 conts. After the limit order is set, click Stop-Limit to set a take-profit and stop-loss order. If the BTC price drops to 21000USD, the support will be weak and the market may fall sharply. To avoid this slump, he wishes to stop loss at the price of 21000USD. At the same time, he thinks if the price rises above 24000USD, there might be a price correction, so he wants to take profit at the price of 24000USD. Then he can choose to set a take-profit order and a stop-loss order at the same time when opening the position. Notes:
After the order is set, users can click Open Long to place an order. Users can check the details of the order and the related take-profit and stop-loss orders in [Open Orders-Limit Orders]. When the limit order is not filled, the take-profit and stop-loss orders will not take effect. When position-opening limit order is partly or fully filled, the status of related take-profit and stop-loss order will be reverted to waiting to be placed. The amount of take-profit and stop-loss order equals to the amount of limit order by default, and users could check the orders in [Open Orders-Take profit/Stop Loss] Notes:
Assume when the latest price of BTC/USD drops to 21000 USD, the stop-loss order of the position will be triggered, and the system will place a position-closing order based on the preset stop-loss price, and the take-profit order will become invalid automatically. Example 2: Set a take-profit and stop-loss order for an existing position Assume Tom holds a long position of 100 conts of BTC/USD swaps with an average price of 21000USD, while the latest market price of BTC/USD is 21782.1USD. If at this time Tom wants to set a take-profit and stop-loss order for the position, there are two methods as below: Method 1: set by price Notes: The take-profit price entered is required to be higher than the latest price when holding long positions, while the stop-loss price is required to be lower. And the take-profit price entered is required to be lower than the latest price when holding short positions while the stop-loss price is required to be higher. Method 2: Set by profit rate Notes: The profit rate set to take profit is required to be higher than that of the current position, while profit rate set to stop loss is required to be lower. After the order is set, users could check the orders in [Open Orders-Take profit/Stop Loss]: Note: If a users position is 0, the related take-profit and stop-loss orders will become invalid automatically. When the latest price triggers either a take-profit order or a stop-loss order, the system will place a position-closing order at the preset price, while the other stop-loss or take-profit order will become invalid. 【APP】 Example 1: Set Take-Profit and/or Stop-Loss strategy when opening a position When placing a position-opening limit order on contract trading page, users can select Stop-Limit checkbox and set Take-Profit and/or Stop-Loss strategy. When position-opening limit order is partly or fully filled, the status of related take-profit and/or stop-loss order will turn to Waiting to be placed. The amount of Take-Profit /Stop-Loss order equals to that of limit order by default, and users could check the orders via [Open Order--Stop-Limit]. Example 2: Set Take-Profit and/or Stop-Loss strategy for an existing position: Users are able to set Take-Profit and/or Stop-Loss strategy under the Positions as below: Users are required to set Trigger Price/PnL Ratio, Order Price and Amount. |