Take Profit (TP) & Stop Loss (SL)

What Are TP & SL?

  • Take Profit (TP): Automatically closes your position when the price reaches your profit target.

  • Stop Loss (SL): Automatically closes your position when the price hits your loss limit.

Using TP & SL helps manage risk and secure gains without needing constant market monitoring.

When to Use TP & SL

  • TP: If you have a profit goal (e.g., “Sell BTC at $52,000”).

  • SL: To minimize potential losses (e.g., “Exit if BTC drops to $48,000”).

  • Essential for leveraged trading, where sudden price swings can quickly affect your margin.

How to Set TP & SL on HyperSwell

For a New Trade:

  1. In the Order Panel, check the TP/SL box.

  2. Enter:

    • Take Profit Price (e.g., $52,000).

    • Stop Loss Price (e.g., $48,000).

  3. Place your order (e.g., click “Buy/Long”).

  4. Once executed, TP/SL will be set automatically.

For an Existing Position:

  1. Go to the Positions tab.

  2. Find your open trade (e.g., Long 0.1 BTC).

  3. Click the TP/SL button or pencil icon.

  4. Enter your Take Profit and Stop Loss prices.

  5. Confirm your settings.

Example

  • You open a Long position on ETH at $3,000 (0.5 ETH, 10x leverage).

  • You set:

    • TP: $3,200 (locks in profits).

    • SL: $2,900 (limits losses).

  • If ETH hits $3,200, your position closes, securing a $100 profit (0.5 ETH * $200).

  • If ETH drops to $2,900, your position closes, limiting your loss to $50 (0.5 ETH * $100).

Using TP/SL helps protect your capital and manage risk effectively.

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