Bitunix perpetual futures trading allows users to set Stop Loss & Take Profit (TP/SL) for their orders. On Bitunix's Futures Trading page, you can set TP/SL in the Order Zone when placing your order.
TP/SL order here will be triggered at the order price when the TP/SL price reaches the trigger price.
What is a Limit TP/SL Order?
A limit TP/SL order combines TP/SL mechanism with a limit order. You can set the minimum profit you expect or the maximum loss you are willing to take on. Once the TP/SL order is set and the trigger price is reached, the limit order will be automatically placed even after logging out or going offline.
In a limit TP/SL order, the TP/SL price is the trigger price of the limit order, and the limit price is the price point at which the order is placed. Limit price can be customizable, buy orders (long) are usually set above the TP/SL price and sell orders (short) are set below the TP/SL price. This difference takes into account the fact that the market price may change within the time difference between triggering TP/SL price and placing the limit order.
What is a Market TP/SL Order?
Market TP/SL orders and limit TP/SL orders operate the same way, when the market TP/SL order is triggered, it will take effect as a market order to be filled immediately.
Please note that when the market is volatile and the price rises or falls sharply, the fill price of the market order may be lower/higher than the fill price that you see on the page when placing the order. Therefore, you’d better pay close attention to the market depth and price fluctuations.
How to Set up TP/SL When Placing an Order?
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Login to your Bitunix account on the mobile application, select "Futures" at the bottom.
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Click BTC/USDT on the top left to change trading pairs. Users can use the search bar or directly click the list below to find the futures they want to trade.
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Select margin mode and leverage.
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Click the arrow icon to the right of the available balance to transfer funds from the spot account to the futures account.
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Place your order on the right side of the screen. If you choose limit order, you need to enter the price and amount. If you choose market order, you only need to enter the amount. Check the TP/SL box and enter price for take profit and stop loss. Then, click Buy if you want to open a long position, or click Sell if you want to open a short position.
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After placing the order, it will appear in Open Orders if it's not filled right away. Users can click [Cancel] to cancel the pending order. If the order is filled, it will be found under Positions. The placed TP/SL order can also be found under Open Order.