Dear WEEXers,
The following text is about take profit and stop loss.
Users can set take profit and stop loss orders within their positions.
During the setup process, users only need to enter the take profit and stop loss price and quantity to successfully place the order. When the market’s latest transaction price reaches the take profit and stop loss price you set, the specified number of contracts will be placed as an order at the best available price.
Note: The maximum number of contracts for take profit and stop loss is the available quantity for closing the position minus the current take profit and stop loss order quantity.
Q: What is take profit and stop loss?
A: Take profit refers to the profit users expect to generate when the price reaches a certain level of increase or decrease. It is a common trading operation to close the position promptly and convert unrealized profit into realized profit.
Stop loss refers to the loss users anticipate when the price reaches a certain level of increase or decrease. It is a common trading operation to end the position promptly to avoid further losses.
WEEX currently offers the "Take profit and stop loss" instruction: Users can pre-set the take profit and stop loss price. When the market's latest trading price reaches the set take profit and stop loss price, the order will be executed at the best available price for the specified quantity (closing the position).
Q: When should take profit and stop loss be used?
A: Typically, when users have positions and cannot monitor the market continuously, they may consider using the "Take profit and stop loss" instruction. However, in principle, users can use the "Take profit and stop loss" order in any situation based on their actual needs.
Q: Can take profit and stop loss only close positions?
A: Yes. Opening positions can be done through trigger orders.
Q: Is take profit and stop loss based on positions?
A: Yes, the take profit and stop loss orders are based on your current positions. You cannot set take profit and stop loss orders when you have no positions. You can set the order quantity based on the available quantity for closing the position.
In other words, if you have a position of 500 lots, you can set take profit and stop loss orders with a maximum quantity of 500 lots. However, if you placed a limit order to close 100 lots before setting take profit and stop loss, the available quantity will become 400 lots, and the maximum quantity for take profit and stop loss for this position will be 400 lots.
When the available quantity for closing the position is 0, you cannot set take profit and stop loss orders.
Q: How to cancel take profit and stop loss orders?
A: In your open trigger order list, take profit and stop loss orders will be displayed with separate labels (TP, SL). You can manually cancel them. When you actively close the entire position, the take profit and stop loss orders will also be canceled.
Q: Can take profit and stop loss orders fail?
A: Yes.
It is possible for take profit and stop loss orders to be affected by market volatility, resulting in differences between the actual execution price and the price at that moment. Take profit and stop loss orders can also fail to execute or be partially executed.
Description
1) ADL closing, automatic deleveraging, liquidation, and manual closure will affect the number of take profit and stop loss contracts in open trigger order. Remarks: Cancellation due to changes in position.
2) Changes in the estimated liquidation price due to manual adjustment of margin may result in the failure of take profit and stop loss orders.
3) Up to 20 take profit and stop loss orders can be set.
4)Traders cannot use take profit and stop loss orders for the total position, but they can use them for the current initiated trades.
Risk warning
If the market experiences significant fluctuations, there is a possibility that the take profit and stop loss orders may not be fully executed. Please make sure to fully understand how this feature works and use it with caution.
When the latest market transaction price reaches the take profit or stop loss price you set, the specified number of contracts for this position will be placed as a pending order at the optimal transaction price.
WEEX is not responsible for any asset losses caused by market price fluctuations.
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