Take Profit and Stop Loss (TP/SL)
Attach a take-profit and a stop-loss to a limit order in one go.
Tick TP/SL on a Limit order to plan your exit at the same time as your entry.
The fields
- TP Limit — the take-profit price.
- SL Trigger — the price that triggers the stop-loss.
- SL Limit — the price of the stop-loss order placed when it triggers.
On the website you can also type an Offset % to fill a price as a percentage away from your limit price.
What happens
- Only your limit order goes on the book at first.
- When it has fully filled, the take-profit and stop-loss orders are placed.
- They work as a pair: whichever fills first cancels the other.
Their amount is slightly smaller than your original order, because the trading fee can come out of what the first order delivered.
Price rules
- Buy — TP Limit above your limit price; SL Trigger below it; SL Limit at or below the SL Trigger.
- Sell — TP Limit below your limit price; SL Trigger above it; SL Limit at or above the SL Trigger.
The orders are a group. Cancelling any one of them cancels the whole group — the limit order
and its take-profit and stop-loss. A limit order that has only partly filled has not placed its TP/SL yet.
In Open Orders, orders in a group carry a TP/SL tag.
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Related
- Spot trading basics How the Exchange works, and what happens when you place an order.
- Order types explained Limit, Market, Stop Limit, Stop Market and Trailing Stop — what each one does.
- Trailing stop orders A stop that follows the price and triggers when it reverses by your chosen percentage.
- Slippage Tolerance on market orders Cap how far from the current price a market order may fill.
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