Placing a take profit market order
Last updated
Last updated
Take Profit Market orders allow traders to set profit targets and protect their positions by specifying a price at which to close an open position. A market order will be triggered when the profit price is reached, with a stop placed above the current market price for long positions and below for short positions. Once the index price hits the take-profit point, the T/P order changes from 'Untriggered' to 'Open' and behaves like a traditional market order. Short-term traders interested in risk management can benefit from take-profit orders since they can exit a trade as soon as their profit target is reached and avoid the risk of future market downturns.
To place a Take Profit Market Order:
Click Take Profit Market from the options available in the stop dropdown menu.
Click Buy or Sell.
Type an amount - this is the total trade size.
Type the desired stop trigger price.
Review your order summary to confirm your selections.
Click Place Order to execute your order.
You can edit your Good Til Time under the advanced section in the trade box.
Max slippage is 10% for BTC/ETH and 20% for all other markets.
Note: Take profit orders trigger based off the index price or the last trade price.
