Many people think reduce-only is simple. The part that’s easy to get wrong is this:
In one-way mode, conditional orders such as take-profit and stop-loss orders can also be set to reduce-only. If the position has already been closed when the order is triggered, it won’t open a new position in the opposite direction.
Reduce-only adds a layer of protection to closing orders: no matter what quantity you enter, the order can only reduce your existing position to zero at most.
After closing a position manually, remember to check whether any previously placed take-profit or stop-loss orders are still active and cancel them if needed.
One more thing: $BTC is quoted at 68312.01, down 3.65% over 24 hours.
In one-way mode, conditional orders such as take-profit and stop-loss orders can also be set to reduce-only. If the position has already been closed when the order is triggered, it won’t open a new position in the opposite direction.
Reduce-only adds a layer of protection to closing orders: no matter what quantity you enter, the order can only reduce your existing position to zero at most.
After closing a position manually, remember to check whether any previously placed take-profit or stop-loss orders are still active and cancel them if needed.
One more thing: $BTC is quoted at 68312.01, down 3.65% over 24 hours.