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.
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Set take profit and stop loss when creating a position
Take a long order as an example: tap [TP/SL] at the [Futures] interface, after setting the relevant parameters, enter the [TP Price] and [SL Price], and tap [Buy (Long)]. After that, the TP/SL order is set successfully.
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Set take profit and stop loss after creating 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.
The position 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.
2.3 The difference between the entire position TP/SL and the partial position TP/SL
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.
Web
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Set take profit and stop loss when creating 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.
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.
· When the contract price does not reach the trigger price, the order will not enter the market. When the contract price reaches the trigger price, the order will enter the market at the order price.
· If the order is completed, your existing position will be closed or a new position will be opened. If the order fails, your position and margin will still exist.
· When the order condition is triggered and the order is made, if the order price set by the user triggers the limit price rule at this time, the system will use the highest price or the lowest price of the limit price at this time to place the order.
· Positions and margins will not be frozen until successfully triggered. Stop-profit and stop-loss orders may not be triggered successfully, and the order may fail due to price limits, position limits, insufficient margin, the contract being in a non-trading state, system problems, etc.
· A successfully triggered limit order is the same as a normal limit order and may not be executed; unexecuted limit orders will be displayed in the open order.
· If the market fluctuates violently, the order may not be executed.
· If you need to close all positions quickly, you can select a specific position and click [Close All].