Perpetual Contract Take-Profit and Stop-Loss User Guide

Position Take-Profit and Stop-Loss

The system performs take-profit and stop-loss for positions through two steps:

Step 1: Receiving the close position instruction;

Step 2: Placing the close order after receiving the instruction.

Step 1 is the trigger process, and Step 2 is the order placement process.

Therefore, when setting take-profit and stop-loss for a position, two prices need to be set: the first is the trigger price, and the second is the order price.

What is the trigger price?

When the price reaches the preset trigger price, the system will execute the close operation. Currently, the trigger is based on the mark price.

What is the order price?

When the system executes the close operation, it will place an order according to the order price. The order price can be either market price or limit price.

If it is market price, it is called market take-profit/stop-loss. If it is limit price, it is called limit take-profit/stop-loss.

Difference Between Limit Take-Profit/Stop-Loss and Market Take-Profit/Stop-Loss

Market Take-Profit/Stop-Loss

When the price reaches the trigger price, the system will close the position at the market price.

Advantages:

Can quickly close the position at the current best available price.

Disadvantages:

During periods of high market volatility, when prices rise or fall sharply, the final executed price of a market order may be higher or lower than the current latest price displayed on the page when the user placed the order. Users need to pay attention to market depth and price fluctuations.

Limit Take-Profit/Stop-Loss

When the price reaches the trigger price, the system will place a limit order to close the position.

Advantages:

Combines the trigger mechanism of take-profit/stop-loss with a limit order. Traders can set their desired minimum profit target or the maximum cost/loss they are willing to accept for a trade. Once the trigger price is reached, the limit order will be automatically submitted, even if the user is logged out or offline.

Disadvantages:

After placing the limit order, the corresponding position quantity will be frozen and will not execute immediately. The limit order will only execute when the market price reaches or exceeds the specified price. However, this price may never be reached. Even if there is a price gap between the limit price and the take-profit/stop-loss price, it may not be sufficient. Highly volatile assets may have price movements that skip over the order price entirely.

Relationship Between Opening Price, Trigger Price, and Order Price

Example Using ETH/USDT:

Current latest price: 2100 (A) Long order placed at 1890 (C) Take-profit trigger price must be > 1890 (C1 position) Stop-loss trigger price must be < 1890 (C2 position) After the trigger, the order price can be any value Recommendation: Use market price for faster execution Short order placed at 2890 (B) Take-profit trigger price must be < 2890 (B1 position) Stop-loss trigger price must be > 2890 (B2 position) After the trigger, the order price can be any value Recommendation: Use market price for faster execution 

How to Set Limit Take-Profit/Stop-Loss

When placing an order, check the Take-Profit/Stop-Loss option. Click Advanced, and a Take-Profit/Stop-Loss settings pop-up will appear. First, enter the trigger price, then enter the order price. The order price can also be set as market price. After entering the values, click Confirm to save the settings. Once the order is executed, the set Take-Profit/Stop-Loss values will be saved in the position. Note: You can set only Take-Profit or only Stop-Loss, but the trigger price and order price must be set in pairs; you cannot set just one.

2. Setting in the Order List

If you forgot to set Take-Profit/Stop-Loss when placing an order and want to set it before the order is executed, go to the Current Orders list, find the order you want to set Take-Profit/Stop-Loss for, and click “” to open the limit Take-Profit/Stop-Loss settings. Enter the trigger price and order price, then click Confirm to complete the setup.

3. Setting in Positions

Perpetual Contract Take-Profit & Stop-Loss User Manual

Position Take-Profit & Stop-Loss

When the system executes take-profit or stop-loss on a position, there are two processes:

Trigger process: The system receives the close position command. Order process: The system places the order to close the position after receiving the command.

Thus, when setting take-profit or stop-loss for a position, two prices must be set: the trigger price and the order price.

What is a Trigger Price?

When the price reaches the pre-set trigger price, the system executes the close position operation. Currently, the trigger is based on the mark price.

What is an Order Price?

When the system executes the close position operation, it places an order at the order price. The order price can be a market price or a limit price.

If it is a market price, it is called Market Take-Profit/Stop-Loss. If it is a limit price, it is called Limit Take-Profit/Stop-Loss.

How to Set Take-Profit & Stop-Loss on the Website

1. Set during order placement

When placing an order, check the Take-Profit/Stop-Loss option. Enter the trigger price first, then the order price. The order price can also be set as market price. After entering the values, click Buy/Long or Sell/Short. After the order is successfully placed, the take-profit/stop-loss settings will be saved in the order. Once the order is executed, the settings will be applied to the position. Note: Trigger price and order price must be set in pairs; you cannot set only one.

2. Set in the order list

If you forgot to set take-profit/stop-loss during order placement and want to set it before the order is executed, go to the Current Orders list. Find the order you want to set Take-Profit/Stop-Loss for, click “” to open limit take-profit/stop-loss settings, enter the trigger price and order price, then click Confirm to complete the setup.

3. Set in positions

In the Positions list, find the position you want to set take-profit/stop-loss for, click the pencil icon to open the limit take-profit/stop-loss settings, enter the trigger price and order price, then click Confirm to complete the setup.

Usage Notes

Take-profit and stop-loss only apply to available positions > 0. If available positions = 0, the take-profit/stop-loss will not be triggered, even if the mark price reaches the trigger price. Any order cancellation will clear the take-profit/stop-loss settings for that position. Example: If you have a 2000 ETH/USDT long position with take-profit at 2100 and stop-loss at 1900, then manually place a 100% close order at 2200. Canceling this order will clear the original 2100 take-profit and 1900 stop-loss. If not canceled, the 2100 take-profit will not trigger until the latest price reaches 2200 for limit closing. 

FAQs

Can both limit take-profit and limit stop-loss trigger at the same time? No. Only one side will trigger. Limit close orders occupy the available position quantity, so after triggering, only one side can execute. If a limit take-profit/stop-loss is triggered but not executed, how to close manually? Option 1: Cancel the order, then close manually. Option 2: Use market close or close all positions. In the Positions list, click Close All or Market Close. If a triggered limit take-profit/stop-loss is canceled before execution, is it still valid? No. Canceled orders will not retain previous take-profit/stop-loss values. You must set them again. How to modify a triggered limit take-profit/stop-loss? Find the corresponding close order in Current Orders, cancel it, then modify the take-profit/stop-loss for the position. How to check if I can set take-profit/stop-loss? Check the available position quantity in the close position popup. If > 0, you can set take-profit/stop-loss. Will adding positions change my previous limit take-profit/stop-loss? If the limit take-profit/stop-loss has not triggered, adding positions will record new settings for the added positions. If no settings are added, previous settings remain unchanged. Will changes in margin affect limit take-profit/stop-loss? Reducing margin will remove stop-loss settings. If the limit stop-loss has triggered but is pending, the system will cancel the order. If a limit 100% close order is placed after setting take-profit/stop-loss, will the take-profit/stop-loss still work? No. Take-profit/stop-loss requires available positions > 0. If available positions = 0, take-profit/stop-loss will not work, and new take-profit/stop-loss cannot be set.