On XT Exchange, users can manage risk by setting flexible take-profit and stop-loss levels, allowing for automated closure of positions when a target profit or controlled loss is reached.
1. Setting Take-Profit and Stop-Loss When Placing an Order
Take-profit and stop-loss orders can be set at the time of placing a new order, as follows:
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Enter the Order Quantity: Specify the amount of the contract to trade.
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Check the Take-Profit/Stop-Loss Box: Set your desired take-profit and stop-loss prices.
Note: XT supports three types of prices for triggering take-profit and stop-loss:
- Mark Price
- Index Price
- Latest Price
The take-profit and stop-loss settings apply to the entire position, and once the order is fully or partially filled, the system will submit the take-profit/stop-loss order. When triggered, the entire position will close at the market price.
2. Advanced Take-Profit and Stop-Loss Settings
For additional customization, click Advanced after selecting the Take-Profit/Stop-Loss checkbox:
- Choose Position Direction: Set for either long or short.
- Set Trigger Price: Options include Mark Price, Index Price, Latest Price, or based on price fluctuations.
- Market or Limit Take-Profit/Stop-Loss:
- Click Market/Limit to toggle between the two modes.
- If Market is not selected, the limit mode will be enabled, allowing users to set both the trigger and order price.
3. Adding Take-Profit and Stop-Loss to an Open Position
If you already have an open position, you can add take-profit and stop-loss by following these steps:
- Go to the Current Position page, find the contract, and click Add to set up take-profit and stop-loss.
4. Take-Profit and Stop-Loss Modes Supported by XT
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Partial Position: Applies to a fixed quantity of the position. When the position quantity changes, the take-profit/stop-loss quantity remains unchanged, allowing multiple take-profit and stop-loss orders.
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Entire Position: Applies to the entire position. When the position quantity changes, the take-profit/stop-loss quantity adjusts accordingly. When the trigger price is reached, the position closes at the market price. Only one take-profit and stop-loss order is allowed in this mode.
Note:
- If the position exceeds the market order's maximum quantity limit, or if the margin is insufficient at trigger time, the order may fail.
- Take-profit and stop-loss orders will not freeze the position prior to triggering.
Additional Notes
- Market Price Orders: When a take-profit or stop-loss order triggers at market price, the system will execute it at the best available price. However, the actual execution price may vary depending on market conditions.