The crypto market is no stranger to volatile rises and falls, and turnarounds and forced liquidation as we see in the contract market are much too thrilling. Without knowledge of how to take profit and stop loss, you are very likely to be at a disadvantage in the crypto field.
With “Take-Profit and Stop-Loss”, users can set trigger price in advance (I.e. Take-Profit Price or Stop-Loss Price), so that when the mark price or the latest price reaches the pre-set price, market order(s) will be triggered systematically and liquidate all positions at the best price, to achieve the purpose of “Take-Profit” or “Stop-Loss”.
If you don’t take profit in time when the market rises to your expected level, you may risk losing it in the market downturn. The same is true for the stop-loss. If you don’t stop loss in time, the position is likely to be liquidated. Therefore, by taking profit and stopping loss in time, investors can maximize profits and minimize losses. It turns out to be an effective way for risk control, and is thus essential for anyone who pursues wealth in the crypto world.
To improve users’ trading efficiency and experience and make trading in various contract trading scenarios more convenient and flexible, CoinEx has launched the “Take-Profit & Stop-Loss” feature on November 3, 2021 (unavailable on the APP for now) on its website. By clicking TP/SP (Take-Profit/Stop-Loss) on the “Current Positions” on the contract trading page, you can set Take-Profit or Stop-Loss separately or simultaneously.
Settings concerning the Take-Profit & Stop-Loss are as below:
- ONLY the liquidation of ALL positions is available for using “Take-Profit & Stop-Loss”. Before the take-profit and stop-loss setting is triggered, no matter if you add or reduceㄓ the position, all positions will be closed once the price is triggered;
- When the position is manually liquidated or you have zero position of this contract, the setting of “Take-Profit & Stop-Loss” will be invalid automatically;
- When the setting of “Take-Profit & Stop-Loss” is triggered, all pending orders in the current market will be canceled systematically.
Users can log in to the CoinEx website to try out the Take-Profit & Stop-Loss feature on the perpetual trading page, and enjoy higher perpetual trading efficiency. CoinEx will provide users with more diversified crypto-asset trading services relying on its comprehensive risk control system, premium product features, and constantly upgraded trading system.