How to set take profit and stop loss orders?

Currently, BiyaPay contracts have two types of take profit/stop loss orders: Limit Take Profit/Stop Loss orders and Market Take Profit/Stop Loss orders.

How to set take profit and stop loss orders on the App:

On the trading page, click the default limit order type to select take profit/stop loss

Limit Take Profit/Stop Loss Order

1. What is a Limit Take Profit/Stop Loss Order?

A limit take profit/stop loss order can be decomposed into a take profit/stop loss order and a limit order. The take profit/stop loss price is the price that triggers the limit order, and the limit price is the price that triggers the limit order. This means that once your take profit/stop loss price is triggered, your limit order will be immediately placed on the order book.

Although the take profit/stop loss price and limit price can be the same, it is recommended to set a take profit/stop loss price higher than the limit price (for short orders) or a stop loss price lower than the limit price (for long orders), which can increase your limit order execution rate.

1. How to place a Limit Take Profit/Stop Loss Order?

To place a limit take profit/stop loss order, you must ensure that you select the correct trigger price and order price.

Please enter your trading quantity, then click "Buy/Go Long" or "Sell/Go Short".

Market Take Profit/Stop Loss Order

1. What is a Market Take Profit/Stop Loss Order?

Market take profit/stop loss orders operate the same way as limit take profit/stop loss orders, with the difference that after a market take profit/stop loss order is triggered, it will become effective as a market order and execute immediately.

When market conditions fluctuate significantly and prices rise or fall sharply, the final execution price of a market order may be higher/lower than the current latest transaction price that the user sees on the page when actually placing the order. Users need to pay attention to market depth and price volatility.

1. How to place a Market Take Profit/Stop Loss Order?

To place a market take profit/stop loss order, you must ensure that you select the correct limit trigger price.

Please enter your trading quantity, then click "Buy/Go Long" or "Sell/Go Short".

How to set take profit and stop loss orders on the Web:

On the trading page, click the default advanced limit order type to select take profit/stop loss

Limit Take Profit/Stop Loss Order

1. What is a Limit Take Profit/Stop Loss Order?

A limit take profit/stop loss order can be decomposed into a take profit/stop loss order and a limit order. The take profit/stop loss price is the price that triggers the limit order, and the limit price is the price that triggers the limit order. This means that once your take profit/stop loss price is triggered, your limit order will be immediately placed on the order book.

Although the take profit/stop loss price and limit price can be the same, it is recommended to set a take profit/stop loss price higher than the limit price (for short orders) or a stop loss price lower than the limit price (for long orders), which can increase your limit order execution rate.

1. How to place a Limit Take Profit/Stop Loss Order?

To place a limit take profit/stop loss order, you must ensure that you select the correct trigger price and limit order price.

Please enter your trading quantity, then click "Buy/Go Long" or "Sell/Go Short".

Market Take Profit/Stop Loss Order

1. What is a Market Take Profit/Stop Loss Order?

Market take profit/stop loss orders operate the same way as limit take profit/stop loss orders, with the difference that after a market take profit/stop loss order is triggered, it will become effective as a market order and execute immediately.

When market conditions fluctuate significantly and prices rise or fall sharply, the final execution price of a market order may be higher/lower than the current latest transaction price that the user sees on the page when actually placing the order. Users need to pay attention to market depth and price volatility.

1. How to place a Market Take Profit/Stop Loss Order?

To place a market take profit/stop loss order, you must ensure that you select the correct trigger price.

Please enter your trading quantity, then click "Buy/Go Long" or "Sell/Go Short".

Note:

The system will conduct two margin reviews, one before placing the order and one before execution. Take profit/stop loss orders may fail to place or execute during the margin review process due to position limits and insufficient margin.