Note: Trading Preferences can be set in the top right corner of the trading page. The switch between the Trading Preferences is only supported when there is currently no TP/SL order in the position/orders.
|
|
TP/SL on the Entire Position |
TP/SL on Selected Positions |
|
Trigger Price |
Last Traded Price / Mark Price / Index price |
Last Traded Price / Mark Price / Index price |
|
Order Execution Logic After Trigger Price is Met |
Entire position is closed using a market order |
A portion of the position is closed using a market order based on the preset contract quantity |
|
Number of TP/SL Orders that can be Placed |
Only 1 TP/SL orders can be set on existing position and during order placement respectively |
Up to 20 TP/SL orders on each Long and Short direction respectively. (including position + active order + conditional order) The number of TP and SL orders is calculated independently, and a maximum combined of 20 TP/SL orders can be submitted |
|
Increasing the Qty of Position with an Existing Position |
Only one TP/SL setting is allowed for the position. Hence, the new TP/SL price set on the new order will replace the existing position TP/SL price after the new order is executed. |
Multiple TP/SL setting is allowed for the position. Hence, the TP/SL set on the new order will correspond to the number of the increased contract after the new order is executed, and it will exist independently on the position. Reference example (2) |
|
Reducing the Qty of Position on the Existing Position |
Does not affect the TP/SL price of the existing position, and the number of orders is reduced according to the quantity placed for the closing order. |
If the Qty of TP/SL is more than the Qty of open position after partial closing, the first (according to the earliest time the order is placed) set of TP/SL orders will be reduced first until it equals the Qty of the existing position. |
|
Closing the Entire Existing Position |
Cancel all TP/SL orders |
Cancel all TP/SL orders |
|
Effect on "Close by Limit" Order After TP/SL has been Triggered |
Cancel all "Close by Limit" order |
|
Reference (1): TP/SL on the Entire Position - Increasing the Qty of position with an existing position
Scenario 1: New order with new TP & SL
1. Trader A has an open long position of 10 BTC quantity with entire TP at $12,000 and entire SL at $8,000
2. Submitted new market long order of 1 BTC quantity with TP at $13,000 and SL at $7,000
3. Long position will have an updated quantity of 11 BTC with an updated TP at $13,000 and SL at $7,000
Scenario 2: New order with only TP or SL
1. Trader A has an open long position of 10 BTC quantity with entire TP at $12,000 and entire SL at $8,000
2. Submitted new market long order of 1 BTC quantity with TP at $13,000 and NO SL being set.
3. Long position will have an updated quantity of 11 BTC with an updated TP at $13,000 and no SL.
Therefore, with "TP/SL on the Entire Position" set as the Trading Preference, when traders place a new order to increase their position size and with the new order having an updated TP/SL set, the system will replace and update to follow the new TP/SL price accordingly.
Reference (2): TP/SL on Selected Positions - Increasing the Qty of position with an existing position
1. Trader B has an open long position of 10 BTC quantity
2. Pre-set 5 BTC of the position with TP at $12,000 and SL at $8,000
3. Submitted a new market long order of 1 BTC with TP at $13,000 and SL at $7,000
4. After the new market long order is executed, trader B will have an open long position of 11 BTC quantity with
- 5 BTC with TP at $12,000 and SL at $8,000
- 1 BTC with TP at $13,000 and SL at $7,000
Therefore, with "TP/SL on Selected Positions" set as the Trading Preference, the TP/SL orders (if any) after adding more position will exist independently from the original position. If the increased position does not have a TP/SL order, the TP/SL orders of the original position may not be completely closed after it is triggered.
Reference (3): TP/SL on Selected Positions - Reducing the Qty of position on the existing position
1. Trader C has an open long position of 10 BTC quantity
2. Pre-set 5 BTC of the position with TP at $12,000 and SL at $8,000, and another 5 BTC of the position with TP at $13,000 and SL at $7,000
3. Trader C manually closed 6 BTC of the position
4. After the position is closed, Trader C will have 4 BTC of position with TP at $13,000 and SL at $7,000 as the first TP/SL set will be cancelled when a portion of the position is closed.
Therefore, with "TP/SL on Selected Positions" set as the Trading Preference, the first (according to the earliest time the order is placed) TP/SL orders will be reduced first until it equals to the current existing Qty of position.
Reference (4): TP/SL on Selected Positions - Effect on "Close by Limit" order after TP/SL has been triggered
1. Trader D has an open long position of 10 BTC quantity, pre-set 5 BTC of the position with TP at $12,000 and SL at $8,000, and another 5 BTC of the position with TP at $13,000 and SL at $7,000
2. Submitted Close by Limit order to close 4 BTC of the position at $12,500 and another Close by Limit order to close 6 BTC of the position at $13,500
3. When trigger price reaches $12,000, the TP order is triggered and closed 5 BTC of the position. Trader D is left with an open long position of 5 BTC quantity.
4. Close by Limit order with furthest order price will be entirely cancelled. Trader still has an active Close by Limit order of 4BTC at 12,500.
Therefore, with "TP/SL on Selected Positions" set as the Trading Preference, after successfully executing a partial close with TP/SL order, if the remaining existing position Qty is lesser than the Close by Limit order Qty, the close by limit order with the furthest order price will be entirely cancelled first until the remaining Qty of Close by Limit order <= the Qty of the existing position.