About Take Profit/Stop Loss Order

What is a Take Profit/Stop Loss (TP/SL) order?

A take profit / stop loss order is a limit order with a limit price and a stop price. When the stop price is reached, the limit order will be placed on the order book. Once the limit price is reached, the limit order will be executed.

• ​Trigger price: When the asset’s price reaches the trigger price, the TP/SL order is executed to buy or sell the asset at the limit price or better.
• Order price: The selected (or potentially better) price at which the TP/SL order is executed.

You can set the stop price and limit price at the same price. However, it’s recommended that the stop price for sell orders be slightly higher than the limit price. This price difference will allow for a safety gap in price between the time the order is triggered and when it is fulfilled. You can set the stop price slightly lower than the limit price for buy orders. This will also reduce the risk of your order not being fulfilled.

Please note that your order will be executed as a limit order after the market price reaches your limit price. If you set the stop-loss limit too high or the take-profit limit too low, your order may never be filled because the market price can’t reach the set limit price.

How to open a TP/SL order?

TP/SL order can be further categorized into TP/SL market and TP/SL limit. You can pre-set the trigger conditions and the order price and amount. When the latest market price reaches the trigger conditions, the system will order according to the pre-set order price and amount (i.e., TP/SL orders).

Reasons for Non-Triggering/Execution of Take Profit and Stop Loss Order

1. For TP/SL Market orders, the final executed price is the immediate market price after the order is triggered, not the preset price.

2. For TP/SL Limit orders, the order may not necessarily be executed at the set limit price. Your order will only be executed when the market price reaches the set limit price or a better price.

TP/SL orders are designed to reduce users' trading risks and potential losses. In situations of significant market volatility, we advise users to use TP/SL orders cautiously. Rapid price declines may result in your order price being skipped, leading to liquidation.

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