TP/SL Orders are automatically submitted if specified criteria are met. Traders will need to specify a trigger price based on either the Limit Price or the Market Price, to activate the orders. This is an advanced strategy that is suitable for experienced traders.
TP/SL orders do not have any margin requirements until the trigger price has been triggered. Traders can place any TP/SL orders successfully but if there is insufficient margin at the point of triggering, the system will automatically reject the order.
Before placing a TP/SL order, you need to choose the stop price that triggers the order. You can choose either “Last Price” or “Mark Price” as the trigger price for your TP/SL order.
There are two types of TP/SL order:
1. Limit Price Order
Limit price order will be placed in the order book when the Market Price(Last price or mark price) hits the pre-set trigger price.
2. Market Price Order
Market price order will be executed when the Market Price (Last price or mark price) hits the pre-set trigger price and the market price order will be placed and executed at the best available price. Unfilled portion will be shown on the Limit Price Order.
*Due to extreme market fluctuations, the executed price of market price order may be lower/higher than the last traded price that trader may have seen, trader needs to pay attention to the market depth and price fluctuations.
- TP/SL orders might not trigger due to extreme market fluctuations, price or position limits, insufficient margin, trading suspension, or system errors. A stop order becomes a limit or market order after it is triggered. Once triggered but not executed, unfilled limit and market orders can be found in open orders. When a stop order is triggered and the reverse order exceeds the current position, the entire position will be closed and the system will open a reverse position through the excess orders.
- To ensure the execution of your Stop-Loss order or your Take-Profit Order without getting reverse positions, please consider selecting the "Close Positions Only" option