Stop Loss & Take Profit

What is a Stop Loss

A stop loss automatically closes your position at a specified loss level to protect your capital. When the mark price reaches your stop level, a market order is triggered to close the position.

What is a Take Profit

A take profit automatically closes your position when your profit target is reached. When the mark price reaches your target level, a market order is triggered to close the position.

How to Set SL/TP

⚠️ SL/TP cannot be set during position opening. You must first open the position, then set SL/TP separately.

Setting after position opens:

1. Use the /sl or /tp command

2. Select the position to apply it to

3. Choose the trigger type:

   • Percentage: for example, -5% for SL or +10% for TP (calculated from entry price)

   • Trigger Price: for example, $57,000 for SL or $66,000 for TP (a specific USD price)

4. Choose the position size to close on trigger: 10%, 25%, 50%, 75%, 100%, or a custom amount

5. Review and confirm

Modifying existing SL/TP:

• Use /sl or /tp again to cancel the existing order and set a new one

• You can also manage SL/TP from the /positions action buttons

Example

Long BTC at $60,000:

• Set SL at -5% — triggers at $57,000

• Set TP at +10% — triggers at $66,000

• Choose 100% of position to close on trigger

If BTC drops to $57,000, the stop loss fires and closes your entire position to limit the loss. If BTC rises to $66,000, the take profit fires and locks in your gain.

⚠️ SL/TP are not guaranteed to execute at the exact trigger price in volatile markets. They use stop-market orders, so the actual execution price may differ from the trigger price.

💡 TIP: Always set a stop loss. It is your best risk management tool for leveraged positions.