What Are Take Profit and Stop Loss Orders?
Take Profit (TP): A trading strategy where users close positions at predetermined price levels to secure profits before market reversals. It converts unrealized gains into realized profits.
Stop Loss (SL): A risk-management tool that automatically closes positions when prices reach unfavorable levels to prevent further losses.
TruBit Pro offers TP/SL orders: Users preset exit prices, and the system executes trades at optimal market prices when triggered.
How to Set TP/SL Orders
Access Open Positions Page
- Locate the "TP/SL" button bottom-left of your active position.
Configure TP/SL Parameters
- Select order type: Fixed amount or entire position.
- Enter TP price (or use % increase auto-calculation).
- Input SL price → Confirm.
- Two pending orders will appear under "Current Entrust."
Order Execution
- Positions close automatically when market hits TP/SL levels.
Frequently Asked Questions
1. When should I use TP/SL?
Ideal for traders unable to monitor markets continuously. Works with any open position but may rarely fail during extreme volatility due to price gaps.
2. How to cancel TP/SL?
- Cancel manually via "Current Entrust" list.
- Orders auto-cancel when positions are fully closed.
3. Can TP/SL orders fail?
Yes. During high volatility:
- Orders may partially fill or not execute.
- Actual fill prices may differ from trigger prices.
Monitor and adjust strategies accordingly.
Risk Considerations
- Slippage Risk: Rapid price movements may cause orders to execute beyond intended levels.
- Liquidation Proximity: Keep SL prices sufficiently above liquidation triggers to avoid premature forced closures.
- Market Liability: TruBit Pro isn’t liable for volatility-related losses.
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- Live chat
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