TP/SL Orders
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Written by David
Updated over a week ago

Cryptocurrencies offer unique opportunities for traders to profit due to their high volatility. But without proper risk management, any winning trade can quickly turn into a losing trade. This is why you need to have a solid trading plan to avoid making decisions based on emotions.

Take Profit (TP) and Stop Loss (SL) are two risk management strategies for open positions in the cryptocurrency market. When trading perpetual contracts, traders can set a TP/SL when placing a limit order, market order, or conditional order. A stop Loss order helps you control the amount of crypto you are willing to lose on a trade. Meanwhile, a take profit order can be used to lock in profit when market prices move sharply.

How does it work?

Take-Profit and Stop-Loss order can be considered part of your exit strategy for every trade you make. You can set the take-profit and stop-loss orders by entering the percentage gain or loss expected. These orders are executed once the prices reach a level previously set by the user, closing their long or short position with a profit or loss.

Your trading preferences play an important role in determining where your take profit and stop loss orders are placed. Whether you prefer to trade Japanese candlestick patterns, chart patterns, trend lines, or technical indicators, with TP/SL orders, you won't have to worry about exiting a trade or questioning your decisions.

For example, a trader entering a long position based on an ascending triangle can immediately determine where to place take profit and stop-loss orders. The height of the Y axis of the triangle can generate a potential target, while the hypotenuse of the pattern suggests an invalidation point.N

Benefits of Take-Profit and Stop-Loss Orders

  • The take-profit and stop-loss orders help protect you from the unknown and better understand what to expect from each position you open.

  • Stop-loss orders help you cut losses when the market moves against your positions. Consequently, it acts as a free insurance policy for your trading account.

  • You can also have the flexibility to engage in other activities while having an open position because the take-profit and stop-loss orders will be automatically executed when the time is right.

How to Place Take-Profit and Stop-Loss Orders

App Version

  • Once you have opened a position, press the TP/SL option.

  • Select the Position TP/SL option.

  • Once inside this option, set the Limit within the Take Profit/Stop Loss heading.

  • Select the "Confirm" button.

When the last price reaches the set amount, it will trigger the order and close the position. The estimated PNL will be "N" amount of USDT.


Web Version

  • Once you have opened a position, press the TP/SL option.

  • Once inside this option, set the Limit within the Take Profit heading.

  • Select the "Confirm" button.

When the last price reaches the set amount, it will trigger the order and close the position. The estimated PNL will be "N" amount of USDT.


If you have questions regarding this information, please contact the TruBit Team via our chat channel or email us Here and we'll be in touch!

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