In the highly volatile world of crypto futures trading, Take-Profit (TP) and Stop-Loss (SL) orders are essential tools for every trader, as detailed in our comprehensive guide “How To Perform Futures Trading On Tapbit?“ They serve as automated safeguards, helping you secure gains and manage risk. This article provides a clear, step-by-step guide on how to set up these crucial orders directly on the Tapbit platform.
What Are TP And SL Orders?
Take-Profit Orders act as your systematic profit-taking mechanism. Rather than gambling on peak prices, they enforce disciplined exit strategies based on your pre-defined technical analysis or reward-risk parameters.
A Take-Profit order allows you to set a specific price level where you want to lock in your profits. For example, if you buy Bitcoin at $100,000 and set a TP at $110,000, the system will automatically close your position when the price reaches $110,000, securing your $10,000 profit.
Stop-Loss Orders function as your strategic defense system. They automatically contain losses before emotions can cloud your judgment, preserving capital for future opportunities. Using the same example, if you set an SL at $90,000 while buying at $100,000, your position would automatically close if Bitcoin’s price drops to $90,000, preventing further losses.
The true power of these tools emerges when they’re integrated into a comprehensive trading plan that accounts for market volatility, position sizing, and your personal risk tolerance.
How To Set TP/SL Orders？
STEP 1: Access Trading Interface
Log into your account and navigate to the trading section by selecting “Derivatives” from the top menu, then choose “USDT Perpetual” to proceed.
STEP 2: Locate Order Settings
For new positions, configure TP/SL directly on the order placement interface. For existing positions, access the “Positions” tab to manage your active trades. In the Positions section, click the “TP/SL” button adjacent to your open position to initiate the setup process.
STEP 3: Configure Price Levels
Establish your take-profit and stop-loss levels based on your trading strategy by utilizing technical indicators—following our guide “How To Use The Trade Charts On Tapbit?“—to determine appropriate price points.
STEP 4: Review And Confirm
Verify all parameters including trigger prices and order quantities before finalizing your settings. Click “Open long/ Open short” to activate the TP/SL orders.
STEP 6: Manage Active Orders
To modify or remove existing TP/SL orders, return to the Positions tab, locate your order, and use the “add” or “edit” options as needed.
Trade With Confidence And Control
By mastering TP and SL orders on Tapbit, you transform from a passive market participant into a strategic trader who maintains control in every market condition. These automated tools serve as your reliable partners in navigating market volatility, ensuring you protect your capital while systematically capturing profits according to your predefined strategy
Now, put your trading skills to the test and get rewarded! Join the Tapbit Trading Carnival to stand a chance to win an iPhone 17 Pro Max and USDT trading bonuses. Don’t just trade—trade smart and win big.
