Take Profit & Stop Loss Orders

This new feature allows users to automatically close their position when predefined profit or loss thresholds are reached, so you can lock in gains and mitigate losses from open positions.

What are Take Profit and Stop Loss Orders?

Take Profit orders are orders placed to automatically close a position and realize profits when the market price reaches a predefined higher price level.

Stop Loss orders are orders placed to automatically close a position and minimize losses when the market price reaches a predefined lower price level.

Benefits: It allows (1) better risk management and (2) flexibility to set specific buying/selling prices.

Limitation: This can limit your profitability if the price moves in your favor.

How should I set the Take Profit and Stop Loss Orders?

When will the Take Profit and Stop Loss Orders be triggered?

Take Profit (TP)

Stop Loss (SL)

What is Stop-Market Order?

Stop-Market Order is a stop order that is set to buy or sell a cryptocurrency at the market price once it has hit a specified stop price.

Example: You own 1 BTC, and you want to sell it only if the price drops to $45,000 or you want to buy BTC above $70000 as you predict it will break above .

Benefits:

  • Helps protect profits and limit losses

  • Can be used for both buying and selling

  • Provides a layer of automation to your trading strategy

Limitations:

  • Not guaranteed to execute if the stop price is not reached

  • Vulnerable to slippage, similar to market orders

When will Stop-Market Order be triggered?

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