On Bybit's platform, traders have 3 different ways of configuring a stop loss order, namely:
1) Without an existing open position, traders can set a one-click stop loss price at the confirmation window while placing an open position order.
2) With an existing open position, traders can navigate to that position's tab to set a stop loss price. For the two ways mentioned above, once the last traded price (LTP) reaches your stop loss price, your position will be closed completely as a market order.
3) Traders can also use a conditional market/limit order to stop loss by setting the trigger price as the stop loss price. This method allows for partial closure of the position. For more details, please click here.