To use TP/SL described in this article, please update your app to version 220.127.116.11 or above (you can check the version in “Settings -> About”).
The TP/SL (Take Profit/Stop Loss) orders support two modes:
- Entire position: When the trigger price is reached, the entire position will be closed at the market price.
- Partial position: You can set the quantity to be closed when the trigger price is reached, and only that quantity will be closed at the market price.
You can set TP/SL orders either when placing an order or on an existing position.
TP/SL When Placing an Order:
By default, Entire position mode is used when placing an order.
If you want to use the Partial position mode, click on “Advanced” in the image above and select “Partial position”:
TP/SL on an Existing Position:
Note: If both TP and SL are set simultaneously and one of them is triggered, the other will be canceled automatically.
How to Set Up Step-by-Step TP/SL
You can use the Partial position mode to set up a step-by-step TP/SL strategy.
Suppose you currently hold a long position in ETHUSDT with a quantity of 0.127 ETH, and the current price is 1845 USDT. You want to set three TP orders to achieve step-by-step TP:
- When the price reaches 1900 USDT, TP 0.027 ETH.
- When the price reaches 2000 USDT, TP 0.05 ETH.
- When the price reaches 2200 USDT, close the entire position for profit.
1 – Click on “TP/SL”:
2 – Set the first TP order with a trigger price of 1900, using the Partial position mode with a quantity of 0.027.
3 – After setting it, it will be displayed on the TP/SL page.
4 – Click on “Add” in the image above to add the second TP order with a trigger price of 2000, using the Partial position mode with a quantity of 0.05.
5 – Finally, add the third TP order with a trigger price of 2200, using the Entire position mode. This order will close the entire position when triggered.
6 – After setting them, your three TP orders will be displayed in the order of their triggers from top to bottom. The orders with trigger prices closer to the current price will be triggered first. The process is as follows:
1 – When the price rises to 1,900 USDT, TP order 1 will be triggered. After the order is executed, the position quantity will be 0.127 – 0.027 = 0.1 ETH.
2 – When the price rises to 2,000 USDT, TP order 2 will be triggered. After the order is executed, the position quantity will be 0.1 – 0.05 = 0.05 ETH.
3 – When the price rises to 2,200 USDT, TP order 3 will be triggered, and the position will be fully closed.
Why are some TP/SL orders inactive?
TP/SL orders are executed based on priority, with orders closer to the current price having higher priority. If higher priority TP/SL orders are sufficient to fully close the position, the subsequent orders will become inactive.
Suppose you hold a long position of 3 ETH in ETHUSDT, with the current price at 1,800 USDT, and you have set up 3 SL orders:
- Trigger price = 1,700 U; Quantity = 1 ETH
- Trigger price = 1,600 U; Quantity = 2 ETH
- Trigger price = 1,500 U; Quantity = 1 ETH
The first two SL orders are closer to the current price and have higher priority. Once triggered, they are sufficient to close the entire position (3 ETH). As a result, the third SL order becomes inactive, as shown in the diagram:
However, inactive does not mean that the SL order is canceled. If you increase your position before the position is fully closed, for example, if you increase the position to 4 ETH before the second SL order is triggered, then the third SL order will no longer be inactive because the first two orders are not sufficient to fully close the position:
What happens if my position size is greater than the maximum quantity for market order? How will my “Entire position” TP/SL be executed?
The system will resubmit the TP/SL order until the entire position is closed. Please note that due to the market order execution, there may be price differences.
Why was my position liquidated despite having a SL order?
One possibility is that your stop-loss trigger price is too close to the liquidation price. When the market experiences violent fluctuations, the price may not reach the stop-loss price first, but instead directly reach the liquidation price, causing the position to be liquidated and the stop-loss to fail.
Another possibility is that you are using the last price as the trigger price for your stop-loss order. Since liquidation is triggered by the mark price, the mark price may trigger the liquidation before the stop-loss order is triggered by the latest price.
To avoid liquidation, it is recommended that you don’t set the stop-loss price too close to the liquidation price. Additionally, using the “mark price” as the trigger price can also reduce the risk of being liquidated even when a stop-loss order is in place.
Here is how to adjust the trigger price type for stop-loss orders:
To know how to choose mark price or last price for triggering price based on usage scenarios, please refer to: How to Choose “Last Price” or “Mark Price” for TP/SL?