A stop loss (SL) is a price limit entered by a trader. When the price limit is reached the open position will close to prevent further losses. 

A take profit (TP) works in a similar way - it automatically closes a position once a profit target is reached to lock in profits.

What are the advantages of Stop Loss/Take Profit?

  • Stop Losses can limit losses. 

  • Take Profits allow the user to maximize profit by exiting a trade as soon as the market is at a favorable price.

What types of orders can use stop loss and take profit?

SL/TP is supported on all orders types: Limit, Market, Stop and Trailing Stop.

Note: Take profit is executed as a limit order, Stop loss is executed as a market order.

How do I  set Take Profit and Stop Loss on the Order Form?

There are 3 ways to set TP/SL on Web app:

  • Set by the price

  • Set by the target of maximum profit & loss

  • Set by the percentage %

You will see fields in the order form labeled "Stop Loss" and "Take Profit" with three options under each: Price, Target, Percent. Here's what each one means:

Price: The price at which your order will be triggered.
Target: The target amount of profit or loss of the trade. For example, you target to make $100 USD but you don't want to lose more than $20 USD.
Percent: The percentage profit/loss target of the trade. 

Is this available for API traders?

Yes, for more information please refer to API Developer Document.

What will happen to my partially filled live order using SL/TP?

The partially filled order will still apply the SL/TP that has been set during order creation. You will not be able to edit your SL/TP on partially filled orders. You can cancel your partially filled order and create a new order with updated SL/TP orders. 

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