Take profit and stop loss order:
| Order Type | Assets Occupancy Status |
| TP/SL Order | When the TP/SL order is placed, the assets are occupied even before the order is triggered. |
How TP/SL Works
You can set the trigger price, order price (Limit order) and order quantity to the TP/SL order. The assets will be occupied at the time the TP/SL order is placed. Once the last traded price reaches the preset trigger price, a Limit or Market order will be placed according to the present order parameters.
A Market order will be filled immediately at the best available market price.
A Limit order will be submitted to the order book and await execution at the order price. In the event that the best bid/ask price is better than the order price, the Limit order may execute immediately at the best bid/ask price.
Hence, traders are advised to take caution on the non-guarantee execution for limit orders as it is subject to the price movement and order book liquidity.
Example
Assuming the current BTC price is 20,000 USDT, here are some different scenarios for TP/SL orders with different trigger and order prices.
TP/SL Market Sell Order
Trigger Price: 19,000 USDT
Order Price: N/A
When the last traded price reaches the trigger price of the TP/SL at 19,000 USDT, the TP/SL order will be triggered and a Market sell order will be placed immediately. The assets will be sold at the best available market price.
TP/SL Limit Buy Order
Trigger Price: 21,000 USDT
Order Price: 20,000 USDT
When the last traded price reaches the trigger price of the TP/SL at 21,000 USDT, the TP/SL order will be triggered and a Limit buy order with 20,000 USDT order price will be placed into the order book, awaiting execution. Once the last traded price reaches 20,000 USDT, the order will be executed.
TP/SL Limit Sell Order
Trigger Price: 21,000 USDT
Order Price: 21,000 USDT
When the last traded price reaches the trigger price of the TP/SL at 21,000 USDT, the TP/SL order is triggered. Assuming the best bid price is 21,050 USDT after triggering, the limit sell order will be executed immediately at a price better (higher) than the order price, which is 21,050 USDT in this case.
On the other hand, if the price drops to a level lower than the order price upon being triggered, a 21,000 USDT Limit sell order will be placed into the order book to await execution.
Notes:
— The order price of a buy order cannot exceed 110% of the trigger price, and the order price of a sell order cannot be lower than 90% of the trigger price.
— Please note that TP/SL orders are currently not available in Spot Margin Trading Mode on App. You are able to place TP/SL orders for Spot Margin Trading from PC.
— If you set the trigger price too far from the current market price, your order may never execute because the market price has not yet reached your set price.
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