Take-profit and stop-loss (TP/SL) is a type of strategy order that refers to setting the order and trigger conditions in advance. When the latest trading price of the contract reaches the pre-set trigger price, the pre-set order will enter the market according to the order price to achieve the goal of taking profits and stopping losses.
TP/SL is one of the very important concepts in contract trading. When the position moves in the opposite direction of the market, you need to stop the loss in time; when the position is in the same direction as the market, you need to take profit and lock it in time. Only by learning to set TP/SL can you survive longer in this market.
BloFin perpetual swap can perform take-profit and stop-loss operations in two places: the Order Placing page and the Position area.
- Set take profit and stop loss when opening a position
Note: when creating a position, the TP/SL orders at the market price are set.
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Set take profit and stop loss after opening a position
2.1 Partial Position TP/SL
Now, we support setting TP/SL orders according to the Price / Estimated Profit / Estimated Profit Rate. After creating a position, you can tap [Position], select the specific position to be closed, tap [TP/SL], set [TP/SL] at the Position page, enter [TP Trigger Price], [TP Order Price], [SL Trigger Price], [SL Order Price], and [Amount], tap [Confirm], and then take profit and stop loss is set successfully.
Trigger price: when the latest market price reaches the trigger price set by the user, the TP/SL will be triggered and the order will be completed.
Order price: the order will be placed based on the order price after the TP/SL order is triggered.
This TP/SL applies to the entire position. In this mode, the order quantity changes with the position size.
At the same time, a market order will be placed when the trigger price is reached. You can only place one entire position TP/SL order targeted at one position.
If you decide to place both take profit and stop loss at the same time, once one side is triggered, the other side will be canceled.
The entire position TP/SL (original TP/SL) applies to a fixed quantity in the position. In this mode, the order quantity doesn't change with the position size.
In the partial position TP/SL mode, you can place a limit or market order when the triggered price is reached. You can place more than one partial position TP/SL order.
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- Set take profit and stop loss when opening a position
Take a long order as an example: select [TP/SL] at the [Futures] page, after setting the relevant parameters under Create Order, enter [TP Trigger Price] and [SL Trigger Price], and click [Buy (Long)].
Note: when creating a position, the TP/SL orders at the market price are set.
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Set take profit and stop loss on the specific position page
2.1 Partial Position TP/SL
We support setting TP/SL according to the Price / Estimated Profit / Estimated Profit Rate. After opening a position, you can click [Position], select the specific position to be closed, set [TP/SL] at the specific position page, enter [TP Trigger Price], [TP Order Price], [SL Trigger Price], [SL Order Price], and [Amount], click [Confirm]. After that, TP/SL is set successfully.
Limit: it allows you to set TP/SL as a limit order or market order. When you tick the Limit box, you can set TP/SL by setting the trigger price and order price, when the TP/SL is triggered, it will be filled as a limit order. If you don't tick it, you just need to enter the trigger price, when the TP/SL is triggered, it will be filled as a market order.
Trigger price: when the latest market price reaches the trigger price set by the user, the TP/SL will be triggered and the order will be completed.
Order price: the order will be placed based on the order price after the TP/SL order is triggered.
This TP/SL applies to the entire position. In this mode, the order quantity changes with the position size.
At the same time, a market order will be placed when the trigger price is reached. You can only place one entire position TP/SL order targeted at one position.
If you decide to place both take profit and stop loss at the same time, once one side is triggered, the other side will be canceled.
The entire position TP/SL (original TP/SL) applies to a fixed quantity in the position. In this mode, the order quantity doesn't change with the position size.
In the partial position TP/SL mode, you can place a limit or market order when the triggered price is reached. You can place more than one partial position TP/SL order.