π°οΈTake Profit & Stop Loss
Last updated
Last updated
On MUFEX, you have the ability to set both take profit and stop loss orders simultaneously, allowing you to effectively manage risk. With that, you can pre-set your TP/SL orders while placing a Limit order, Market order or Conditional order directly from the order zone. Additionally, you can also modify the TP/SL price before the order is filled.
Take Profit orders are filled when prices reach a predetermined level. This feature enables traders to lock in profits and exit the trade.
Stop Loss orders, on the other hand, are filled when prices reach a predetermined level, protecting traders from excessive losses by automatically exiting the trade.
There are two (2) options for applying for your TP/SL orders:
Entire Position - The TP/SL applies to the entire position. This setting will allow you to place a single TP/SL order per position. When the TP (or SL) Trigger Price is reached, the Entire Position will always be closed via a Market order.
Partial Position - The TP/SL applies to the current order quantity. This setting will allow you to place multiple TP/SL orders per position. When the TP (or SL) Trigger Price of individual TP/SL orders are reached, their respective TP/SL order quantities will be closed via either Market or Limit orders, and the corresponding SL (or TP) order will be canceled.
Pre-set take profit and stop loss orders in the order panel:
You can directly set take profit and stop loss orders when submitting limit orders, market orders, or conditional orders in the order panel.
Pre-set take profit and stop loss orders in the position panel:
Click the "+ Add" button in the position panel to set take profit and stop loss orders.
