Dear Bitget users，
To provide a better trading experience, the new feature of “Take Profit/Stop Loss” available now.
(Please update the APP to the latest version of IOS: 0.9.0 and the latest version of Android: 0.8.8)
1. Now users can specify the exact price at which to open/ close an open position for profit.
2. Before placing an order, you just need to choose the Take Profit and Stop Loss price that triggers the market order. When the latest transaction price in the market reaches Take Profit and Stop Loss price you set, the number of cont for this position will be placed in Stop Limit order in the form of the best transaction price.
Q.What is a Take Profit/Stop Loss order?
Similarly to a Stop-limit order, a Take Profit/Stop Loss order uses a stop price as a trigger. However, when the stop price is reached, it triggers a market order instead. You need to choose the stop price that triggers the market order.
Now Bitget Preset your “Order” and “Trigger Condition” and the system will place your “Order” into the market if the latest transaction price reaches the preset condition.
- Take-profit orders are beneficial for short-term traders interested in profiting from a quick bump in the security costs.
*Maximum number of TF/SL(Cont) = Available number of contracts(Cont) -Current number of TF/SL (Cont)
Q.When to use Take Profit and Stop Loss?
- Take Profit orders that are beneficial for short-term traders interested in profiting from a quick bump in the security costs. Take Profit and Stop Loss orders are placed using either fundamental or technical analysis.
- Stop Loss orders are used to prevent investor losses when the price of a security drops. Once the stop price is met, the stop order becomes a market order and is executed at the next available opportunity.
Usually, when the user has a position and you can consider using the "Take Profit and Stop Loss". But in principle, as long as the user has a position, he can use the "Take Profit and Stop Loss" order in any case according to his actual needs.
Q.Take Profit and Stop Loss only can use for a close position?
Yes. You can open a position with "Stop limit"
Q: Dose Take Profit and Stop Loss refer to the position only?
Yes, the order of Take Profit and Stop Loss is based on your current position. You cannot set the order to Take profit and Stop Loss without any order. You can set the order quantity according to the quantity that can be closed in the position.
e.g.If you have 500 conts contract want to use TP/SL , the maximum available number of the contract is 500 conts , but if you place "Stop Limit"with 100 conts before, the maximum available number of contract change to 400 conts.
If you available position to close is 0, that means you are not allowed to use Take profit /Stop limit
Q.How to cancel Take Profit and Stop Loss?
You can go to "Stop limit", select the Take Profit or Stop Limit button, one-click the window.If you close all the positions, the Take Profit and Stop Loss will cancel imminently.
Q. Does Take Profit and Stop Loss will place unsuccessful?
Yes. Conts shall be subject to the order rules of relevant contract types, or your orders will fail to be placed. If the market fluctuates violently and the Take Profit or Stop Limit is triggered, the actual transaction price may be different from the price at that moment. Take Profit or Stop Limit orders may also fail to be filled or cannot be completely filled.
- Agreement close, Auto Margin Replenishment(AMR), liquidation, close position, etc. will affect the number of Take Profit and Stop Loss. Remarks: Cancelled (Position changed). and the remark is "position change canceled"
- Take Profit and Stop Loss are set according to your pre-set conditions, which cannot guarantee the transaction, please be pay attention to the risk control
- You will fail to place orders when the contract margin is insufficient
- The maximum orders are 20
- Traders only can use the Take Profit and Stop Loss in "Copy Trade" page
20 Jun 2020
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