Take Profit Stop Loss Order
What is a Preset TP/SL Order?
A Preset take-profit/stop-loss order allows traders to configure TP/SL conditions simultaneously with placing an open order. This is useful when the position has not yet been created, but the trader wants to have exit conditions ready in advance.
In short:
Preset TP/SL = Open Order + Predefined Take Profit / Stop Loss Parameters
How Does It Work?
This is a type of OTO order (One-Triggers-One), meaning:
The main order (buy or sell) is placed first.
Once the main order is filled and a position is opened, the system automatically submits a corresponding take-profit (TP) or stop-loss (SL) order.
What You Need to Set
When placing an open order with preset TP/SL, you will configure:
Main Order
Order Type: Limit or Market
Order Price (if Limit)
Quantity
Take Profit Order
TP Trigger Price
TP Execution Type: Limit or Market
TP Order Price (if Limit)
Stop Loss Order
SL Trigger Price
SL Execution Type: Limit or Market
SL Order Price (if Limit)
Trigger Conditions and Rules
To ensure a valid setup, the TP/SL trigger prices must follow these conditions based on order type and position direction:
Position
Order Type
Trigger Rule (Take Profit)
Trigger Rule (Stop Loss)
Open Long
Limit
Trigger > Minimum(Order Price, Sell 1 Price)
Trigger < Minimum(Order Price, Sell 1 Price)
Open Long
Market
Trigger > Sell 1 Price
Trigger < Sell 1 Price
Open Short
Limit
Trigger < Maximum(Order Price, Buy 1 Price)
Trigger > Maximum(Order Price, Buy 1 Price)
Open Short
Market
Trigger < Buy 1 Price
Trigger > Buy 1 Price
Order Lifecycle and Status
1. After Submission
The TP/SL is shown in the Current Orders List.
Status is marked as "Not in Effect" because the order is pending trigger.
TP/SL becomes "Effective" only once the main order is filled and a position is formed.
2. Once the Position is Opened
The TP/SL order is submitted automatically based on the previously set parameters.
Limit TP/SL Quantity = Main order quantity
Market TP/SL Quantity = Actual filled quantity
Example
Scenario: Limit Order with TP/SL
You submit a limit Buy 1 BTC at $10,000
You enable TP/SL:
Take Profit: Trigger at $12,000, Limit Order at $11,900
Stop Loss: Trigger at $9,500, Market Order
Once the buy order is filled and 1 BTC is held long:
The system automatically places two orders:
A limit sell at $11,900 triggered at $12,000 (Take Profit)
A market sell triggered at $9,500 (Stop Loss)
Frequently Asked Questions
Which Order Types Support Preset TP/SL?
Supported: Limit, Market, Post Only, IOC, and FOK open orders.
If I Add to My Position Later, Does TP/SL Update?
No. TP/SL only applies to the initial main order. Subsequent position increases do not inherit the previous TP/SL settings.
Can I Set Multiple TP/SL Orders?
Yes. Multiple TP/SL orders can be placed on the same position.
The system will execute whichever is triggered first.
What Does "Not in Effect" Mean?
It means the TP/SL order is waiting for the main order to be filled. It will remain inactive until the position is opened.
Execution Summary
Once the preset TP/SL is triggered:
Order Direction: Opposite to the open position (e.g., Sell for Long)
Order Quantity:
Limit TP/SL: Matches the main order quantity
Market TP/SL: Matches actual executed volume
Order Visibility:
Appears in Open Orders and Order History
Tips for Using Preset TP/SL Effectively
Use preset TP/SL for strategic automation, especially when you're not actively monitoring the market.
Offset your TP limit price slightly from your trigger price to improve execution.
Avoid placing full market TP/SL orders on large positions; instead, split them into smaller orders to reduce slippage.
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