Stop Loss
Last updated
Last updated
When enterng a position (buying a coin), Stop Loss order allows you to protect your downside and limit your losses in case the market moves against you. Stop Loss order exits your position (sells the coins) at maximum loss % you are prepared to tolerate. All you need to do to set it up is input the %.
To add a Stop Loss to your order, click '+SL' in the swap setup form:
Input the maximum loss % you are prepared to tolerate into the 'Stop Loss' field - and you are good to go:
Once your main order executes, we will automatically open a Stop Loss order to sell the exact amount of coins you've received and will calculate where to place its trigger based on the actual execution price of your main order and your Stop Loss percentage:
You can see that I bought 1 DEGEN on Base at 0.000010770 ETH and the system placed a Stop Loss order to sell 1 DEGEN at 5% lower (at 0.000010231 ETH).
If the market goes against me and the price falls to my stop loss target, the Stop Loss will be triggered and the swap will be sent to the exchange.
You can connect Stop Loss to any order: Swap, Limit or Trailing.
You can set your Stop Loss percentage between 0.1% and 99.9%.
You can choose to connect only Stop Loss to your main order - if you are willing to let the coin 'run' and have not decided when to take the profit yet, but want to protect your downside.
Or, if you know how much profit you are comfortable with, you can connect a Take Profit order as well - making it a TP + SL combo.
Coming soon: Trailing Stop Loss, move to SL to breakeven, realized and unrealized PnL calculation for the main order.
