Take Profit Stop Loss (TPSL) orders are advanced trading tools that allow traders to automatically close or reduce positions when predetermined profit or loss thresholds are reached. These orders help manage risk and lock in profits by executing market orders when trigger conditions are met.
Key Terminology Explained
Take Profit Price / Stop Loss Price
- Trigger Mechanism: When the index price (or mark price) reaches your preset TPSL levels, the system automatically executes a market order to close/reduce the position.
- Execution Note: TPSL orders only close positions—they never open reverse positions.
Order Quantity
Specifies the contract amount to be traded upon trigger activation.
TPSL Order Modes (USDT Perpetual Contracts)
BIT offers two operational modes for TPSL orders:
| Mode | Description | Max Orders Per Position |
|---|---|---|
| Partial Position | Allows up to 10 TPSL groups per position, each affecting a portion of holdings. | 10 |
| Full Position | Restricts to one TPSL group per position; new settings override previous ones. | 1 |
Important: TPSL orders only activate when:
- The original order fully executes, OR
- Partial fills occur and remaining unfilled portions are canceled.
Critical Features
OCO (One-Cancels-the-Other) Logic
- If either the take profit or stop loss triggers, the opposing order auto-cancels.
- Full position liquidation removes all associated TPSL orders.
Retry Functionality
- Purpose: Mitigates incomplete fills during low liquidity by resubmitting unfilled portions every 1 second (up to 4 attempts).
- Risk Alert: IOC (Immediate-or-Cancel) nature means market orders may not fully execute. Monitor email notifications for order status updates.
How to Use TPSL Orders
- Navigate to USDT Futures Trading page.
- Select Long/Short → Click [Take Profit/Stop Loss].
Enter:
- Contract quantity
- Limit price (if applicable)
- TPSL price/percentage thresholds
- Confirm with [Buy/Long] or [Sell/Short].
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Post-Order Management:
- View active orders under [Current Positions].
- Add/edit TPSL for existing positions via the [Add TPSL] button.
FAQs
What happens if my TPSL order partially fills?
Unfilled portions cancel automatically (IOC logic). Enable Retry to improve fill rates.
Can I set TPSL for existing positions?
Yes! Use the [Add TPSL] option on your position dashboard.
Why didn’t my stop loss trigger during a price spike?
TPSL relies on mark/index prices—not momentary spikes. Check exchange price sources.
How many TPSL orders can I have per position?
Depends on mode: 10 for Partial, 1 for Full position.
Does BIT support trailing stop losses?
Not currently. Only fixed-price TPSL is available.
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