BVOX Futures: Take Profit/Stop Loss

Dear BVOX users,

The following text is about Take Profit/Stop Loss

Users can take profit/stop loss in positions.

In the setting process, the user only needs to enter the price and quantity of TP/SL to successfully entrust. When the latest transaction price in the market reaches the TP/SL price you set, the cont set for this position will be entrusted with the order in the form of the optimal transaction price.

Note: The maximum cont of TP/SL for this position is the number of open-able cont for this position-the number of order cont for current TP/SL  

Q: What is take profit/stop loss?

A: Take profit refers to a common contract trading operation in which users believe that the profits generated when the contract price rises/falls to a certain position which can be closed in time to convert their unrealized profits into realized profits.

Stop loss refers to a common contract trading operation in which users believe that losses incurred when the contract price rises/falls to a certain position which need to be closed in time to avoid larger losses.

BVOX currently provides a TP/SL order: users can set the TP/SL price in advance. When the latest market transaction price reaches the TP/SL price you set, it will close position at the number of contract you set for this position at the optimal transaction price..

Q: When to use take profit/stop loss?

A: Generally, when the user has a position and cannot keep track of the market for a long time, he can consider using the take profit/stop loss to place an order. But in principle, as long as the user has a position, he or she can use the take profit/stop loss under any circumstances according to his or her actual needs.

Q: Can only take profit and stop loss close positions?

A: Yes. Trigger order can be used to open positions

Q: Is the take profit and stop loss based on the position?

A: Yes, the order of take profit and stop loss is based on your current position. You cannot set a take profit and stop loss order when you have no position. You can set the order quantity according to the liquidable quantity in the position.

In other words, if you have a 500 cont position, you can set the order of take profit and stop loss, and the maximum number of contract is 500. However, if you have placed an limit order to close a position of 100 before setting the take profit and stop loss, and the quantity that can be closed at this time becomes 400. At this time, the maximum take profit and stop loss quantity of this position is 400.

When the liquidable quantity in your position is 0, you cannot set take profit and stop loss.

Q: How to canceltake profit and stop loss?

A: In your current plan list, take profit and stop loss orders will be displayed in the list with separate labels (take profit, stop loss), and you can cancel them manually. When you take the initiative to liquidate this position, the take profit and stop loss order will also be cancelled.

Q: Willtakeprofit and stoploss fail?

 A: Yes.

When the market fluctuates greatly, the take profit and stop loss is triggered, the actual transaction price may be different from the price at that moment. There is also the possibility that the take profit and stop loss orders cannot be filled or not fully filled.

Risk warning

If the market fluctuates greatly, and there is a possibility that the take profit/stop loss order cannot be traded or cannot be fully traded, please be sure to understand the function principle in detail and use it with caution!

When the latest transaction price in the market reaches the take profit/stop loss price you set, the number of contract you set for this position will be placed into a pending order in the form of the optimal transaction price.

BVOX is not responsible for any asset losses caused by market price fluctuations.

BVOX Team

 

Risk warning: The cryptocurrency market has high risks, please understand the risks and invest in products you are familiar with. Please carefully consider your investment experience, financial situation, investment objectives, risk tolerance and consult professional independent investment experts to make a decision before investing. The information presented on this page is for informational purposes only and should not be construed as any investment advice. Past earnings performance is not indicative of future earnings. You should be aware that the market value and returns of investment products fluctuate and you may lose the amount you invest. You are solely responsible for your investment decisions. BVOX is not responsible for any possible investment losses.