1. How to place a limit order with TP/SL?
When placing a limit order, you will be able to set Take profit or Stop loss to the order.
In One-way position mode, you can see the "TP/SL" setting entry on the order interface. However, if you have enabled ‘Reduce-only’, the function will not show.
In Hedge position mode, Open order has the function, but Close order does not:
If a limit order or market order is set with TP/SL, it will be displayed under the 'Open Orders' tab as below:
You can click into and view the order details in the 'Take Profit/Stop Loss' field.
In fact, the limit, market order and TP/SL are executed through the strategy order.
There are two strategy types that are currently supported: OTOCO and OTO. Let us define limit order and market order as Order No. 1 i.e. primary order, and TP order and SL order as Order No. 2 and 3 i.e. secondary order.
- OTOCO order: If Order No. 1 is filled (including partial fill), Order No. 2 and 3 will then take effect, and the order will be seen on the 'Open Order' tab. If only one of the No. 2 and 3 orders is executed (including partial fill), the system will cancel the other automatically . For example, Order No. 2 is executed, Order No. 3 is cancelled; Order No. 3 is executed, Order No. 2 is cancelled, Order No. 2 and 3 are so called OCO order.
- OTO order: If Order No. 1 is filled (including partial fill), Order No. 2 will take effect immediately.
When an order is triggered, in the ‘Positions’ tab, you are allowed to add or modify the TP/SL for the entire position. After closing the position, the take-profit and stop-loss will automatically cancel.
Please note the stop price set by Stop Limit and Stock Market order placed via the "Place Order box" is different from this TP/SL and cannot be cancelled or modified here.
2. What are the types of orders that support the limit TP/SL?
Limit and Market Order only, other types such as Stop Limit、Stop Market、Trailing Stop do not support Limit TP/SL.
3. If I increase or reduce my position, will the TP/SL close the whole position once triggered?
Yes, the amount can be seen on the open order tab with "close position", i.e. close the whole position.
4. If I have multiple limit orders with TP/SL attached, what will happen?
The TP/SL attached to the first opened order will be used as TP/SL on the position, the TP/SL on subsequent filled orders will be cancelled by system automatically.
For example, there are No.1 , 2 and 3 strategy orders, each has TP/SL attached. Order No.2 is filled first, Order No.1 is filled 10 minutes later, then the TP/SL of Order No.1 is automatically cancelled at the time it’s been filled. If Order No.3 has not been filled yet, its TP/SL are still valid. When Order No.3 has been filled, its TP/SL are cancelled by system automatically. Therefore current position (combined No.1 , 2 and 3 strategy orders) has the TP/SL coming from Order No.1.
5. Can the ineffective TP/SL be seen on the Open Order?
You cannot see ineffective TP/SL on open order directly, but you can view it by clicking into ‘View’ under TP/SL on its primary order.
6. Are there any changes to the Stop Limit/Stop Market/Trailing Stop Order?
There is no change to Stop Limit/Stop Market/Trailing Stop Order shown as below. You can choose whether to enable ‘Reduce-Only’, set Trigger price and Execution price etc. Please be noted that the TP/SL set up through here will not be shown in position, and it has no ‘Close Position’ function.