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 TP/SL for Existing Positions
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Login to your Bitunix account on the mobile application, select "Futures" at the bottom, then click TP/SL under Positions.
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Enter the price for TP/SL and the amount, click Confirm.
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The placed TP/SL order can be found under Open Order.