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We are very excited to announce our new feature: Simplified take profit and stop loss.
This feature has been built to transform your trading experience by promoting safe investing practices, with an aim to limit your risk and enhance profit taking opportunities.
What is Simplified Take Profit and Loss?
Simplified Take Profit and Loss is a feature that allows you to set predefined take profit and stop loss trigger orders when making trades. It empowers users to establish their exit strategies upfront, aiming to help you mitigate potential risks and promote responsible trading habits.
How is this helpful?
By offering the option to set take profit and stop loss trigger limits, Simplified Take Profit and Loss provides several benefits for traders. It aims to help you:
- Manage Risk: Setting stop loss orders enables you to limit potential losses by automatically triggering a sell order if the cryptocurrency price drops below a certain threshold.
- Secure Profits: Take profit orders allow you to lock in profits by automatically triggering a sell order when the cryptocurrency price reaches a specified percentage or dollar amount above their purchase price.
- Simplify Decision-Making: Having predefined exit strategies in place helps you make informed and confident trading decisions without constantly monitoring price movements.
When a predefined price is met, these trigger orders execute as instant orders and are subject to slippage pending market liquidity and volatility.
How it Works
When you execute an instant trade on our platform, you will be presented with the option to set a take profit limit and stop loss. You can choose to set these orders based on either a percentage or a dollar amount.
For instance, let’s consider a user who buys Bitcoin. They have the following options for setting a take profit or stop loss order:
You can set a stop loss order as a percentage, dollar amount or specific price below their purchase price. If Bitcoin’s price drops below this threshold, a sell order will automatically trigger. Similarly, you can set a take profit order. when Bitcoin’s price rises to the trigger price, a sell order will automatically trigger.
All orders are subject to slippage pending market liquidity and volatility.
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