1. What is stop profit and stop loss
Take profit (TP) and stop loss (SL) are a type of strategic entrustment, which refers to the pre-set entrustment and trigger conditions. When the latest contract price/mark price/index price reaches the pre-set trigger price, the pre-set entrustment will be sent to the market at the entrustment price to achieve the effect of stop profit and stop loss or chasing up and down.
Coinstore contract trading can be operated in two places: trading page and specific position page. Users can choose according to their own situation
Take profit (TP): aims to automatically sell assets and lock in profits when the market price reaches the expected price.
Stop loss (SL): aims to automatically sell assets and limit potential losses when the market price falls to the set price.
2. How to set Take-profit and Stop-loss
Web:
Set TP and SL when opening a position
Take a long order as an example:
【Buy/Long】-【TP/SL trigger price】-【Confirm】
【Buy/Long】-【TP/SL trigger price】-【TP/SL order price】-【Confirm】
Set up Take-profit and Stop-loss on the specific position
【Add TP/SL】-【TP/SL trigger price】【TP/SL order price】-【Confirm】
APP
Set TP and SL when opening a position
【TP/SL price】
Set up Take-profit and Stop-loss on the specific position
【TP/SL】-【TP/SL trigger price】-【Confirm】
3.Notes
·Trigger price: When the latest market price reaches the trigger price set by the user, the stop-profit and stop-loss order will be triggered and the order will be placed.
·Order price: After the stop-profit and stop-loss order is triggered, the order will be placed according to the order price.