1. Basic Concepts
To help users better manage risk and lock in profits, iCoin provides Take Profit (TP) and Stop Loss (SL) functions:
Take Profit (TP): When the market price moves in your favor and reaches the profit target you set, the system will automatically close the position at market price, helping you lock in your profit.
Stop Loss (SL): When the market price moves against you and reaches the maximum loss level you are willing to accept, the system will automatically close the position at market price, helping you avoid greater losses.
2. Parameter Explanation
Trigger Price: When the latest market traded price reaches your set trigger price, the system will activate the take-profit or stop-loss order.
Order Price: After the trigger is activated, the system will use this price as a reference and submit a market order to close the position. Due to rapid market fluctuations, the final execution price may differ from the order price.
3. Operation Process
1.Set the trigger price and order price.
2.When the market price reaches the trigger price, the system immediately submits a market order.
3.If Take Profit is triggered: the system closes the position at market price to secure profits.
4.If Stop Loss is triggered: the system closes the position at market price to control risk.
4. Take Profit / Stop Loss Settings in Unified Position Mode
(1) TP/SL for the Entire Position
This applies to Unified Position Mode, where a single TP/SL is set for the entire position.
Once triggered, the system will close the entire position at once.
When setting a new TP/SL, the system will automatically cancel the previously set parameters.
Important Note:
New orders will be added by default into the existing TP/SL for the entire position setting. Once triggered, all open positions will be closed, so please evaluate the use case carefully.
(2) TP/SL for Partial Positions
This supports setting TP/SL by percentage or fixed quantity, suitable for staged or partial close strategies.
Each partial TP/SL order exists independently and does not affect other partial TP/SL orders.
If you need to modify an existing setting, please manually cancel the previous TP/SL order first to avoid duplicate orders.
5. Situations Where TP/SL May Be Cancelled
Take profit and stop loss orders may be automatically cancelled in the following situations:
Forced liquidation or auto-deleveraging (ADL): If your position is liquidated or reduced by ADL, any untriggered TP/SL orders will be cancelled automatically.
When both TP and SL are set: Once one side is triggered, the order on the opposite side will be automatically cancelled.
Position is reserved by other orders: If your position is occupied by limit orders or other pending orders, leaving no available quantity, the system will be unable to execute the TP/SL.
Recommendation:
Check your positions and open orders regularly to avoid duplicate settings or invalid orders.
6. Trading Risk Reminder
Setting take profit and stop loss levels properly can help manage risks caused by market volatility.
Market orders may experience slippage during extreme market movements, and the actual execution price may differ from your preset price.
Users are strongly advised to adjust their TP/SL strategies flexibly according to real-time market conditions.
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