Function Overview
TP/SL can be set when opening or holding a position. They are essentially market-executed conditional orders—when triggered, the system liquidates the position at market price.
FAQs
Q1: Is TP/SL mandatory?
No, but critical for risk management. Highly recommended for beginners and disciplined traders.
Q2: Any recommended TP/SL ratios?
Common practice uses risk-reward ratios (e.g., 2:1 or 3:1). Example: 5% stop loss → 10–15% take profit.
Q3: Fixed price, percentage, or technical indicators?
Fixed/percentage for beginners (simpler); advanced traders may use indicators.
Q4: How to cancel TP/SL?
Manage under "Current Orders - Conditional Orders".
Q5: Can TP/SL fail?
Yes. During extreme volatility, execution may deviate or partially fill.
Disclaimer & Risk Warning
All trading tutorials provided by BitDa are for educational purposes only. The content, opinions, and analyses contained therein are for reference and shall not be construed as investment advice, nor as recommendations, offers, or solicitations to buy or sell any financial products. Investors must make independent judgments based on their own investment objectives, financial situation, and risk tolerance, and shall bear all investment risks themselves. BitDa shall not be held liable for any trading decisions made by users.
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