What is a Take-Profit & Stop-Loss (TP/SL) order?
TP/SL is an extended feature of a limit order. When placing a limit buy order, users can tick the "TP/SL" option and set a take-profit sell price or a stop-loss sell price. Once the limit order is fully filled, the TP/SL order will be activated. When the market price reaches the preset trigger price, the system will automatically place the corresponding order on behalf of the user, locking in profits when the price rises or reducing losses when the price falls.
Parameter explanation: Trigger Price: Once the "Last Price" reaches the user's set "Trigger Price," the TP/SL order will be triggered. Order Price: After triggering, the system will place an order at the set order price. Quantity: The quantity to be placed after triggering. Note: During periods of high market volatility, the actual execution price of a TP/SL order may deviate from the set order price, and there is a possibility that the TP/SL order may not be executed or may only be partially executed.
TP/SL Setup Example
- Order Price: 8.1 USDT (the price at which you wish to buy TRUMP)
- Order Amount: 10 USDT (the amount you plan to spend)
- TP/SL Settings:
- Market Take-Profit Trigger Price: 10.0000 USD (the price at which you wish to take profit)
- Market Stop-Loss Trigger Price: 7.5 USD (the price at which you wish to cut loss)
In this example, suppose you spend 10 USDT to place a limit buy order for 1.23 TRUMP. After the order is fully filled, the TP/SL order will be activated. When the TRUMP price reaches 10 USDT, the take-profit order will be triggered, and you will sell 1.23 TRUMP to lock in profit. Conversely, if the market price drops to 7.5 USDT, the stop-loss order will be triggered, and you will sell 1.23 TRUMP to reduce losses.
Take-Profit/Stop-Loss Order Operation Guide
- Log in to your Gate App and go to [Trade] – [Spot] – [Alpha]. Select [Limit Order] as the order type. After setting the limit price and trade amount, check the TP/SL box at the bottom of the page to open the setup area. Here you can set the desired TP percentage and SL percentage, which represent the percentage of increase or decrease compared to the limit order price.
- Tap the [Advanced] button next to the checkbox to open the advanced TP/SL settings window. Adjusting the trigger price will automatically calculate the corresponding TP/SL percentage. You can also drag the slider to quickly adjust the percentage, which will in turn calculate the trigger price automatically. The order price defaults to the best market price, but you can switch to Limit Mode and set a specific order price. Once the market price reaches the trigger price, your TP/SL order will be placed as a limit order.
3. How to check your TP/SL orders
After placing an order, you can view "TP/SL" orders under [Open Orders] and check their status. If the limit order has not yet been filled, you can still modify the TP/SL settings. Once the limit order is filled, the TP/SL order will be triggered immediately, generating one limit TP order and one limit SL order. At this stage, you can only cancel the order but cannot modify it.
- If either the TP or SL limit order is triggered and filled first, the other order will be automatically canceled by the system. You can view TP/SL orders in [Order History] and check their details in [Trade History].
️ Note: In some cases, only a TP order may be generated. Due to minimum trade amount limits, the SL order may fail to be placed if the amount does not meet the minimum requirement.
Gate reserves the final right to interpret the product.
