How do I modify TP/SL?
Take Profit (TP) and Stop Loss (SL) are essential tools for traders looking to manage risk and secure profits in the volatile world of cryptocurrency trading. TP allows you to automatically close a trade when the price reaches a certain level of profit, while SL helps minimize losses by closing a trade when the price hits a predetermined level of loss. We provide robust features to set and modify these parameters easily on both our web platform and mobile app. Learn more on our TP/SL here.
Here's a detailed guide on how to modify TP/SL orders on our platform.
How do I modify TP/SL?
On the app
Access the trading section:
Select Trade from the main menu
Select the trading pair you want to modify
View your positions: select the Positions option to see all your open positions
Select the position to modify:
Find the specific position you wish to modify
Tap on the position to open the details
Adjust TP/SL levels:
In the position details, look for the option to modify TP/SL
Select Modify or the TP/SL icons
Enter your new TP/SL prices
Insert your trigger prices for TP trigger and Stop loss fields
Select Confirm to save the changes
Verify and confirm:
Ensure that the new TP/SL levels are correct
Confirm the changes by selecting Confirm
On the web
Navigate to the trading interface:
Once logged in, select Trade from the main menu
Select the trading pair you are interested in from the list
Open your positions: in the trading interface, locate the Positions option. It displays all your current open positions
Select the position to modify: find the position you want to modify. Select Add under the TP/SL column
Select the Add option under TP/SL to modify the position
Modify TP/SL levels:
A window will pop up, allowing you to set new TP/SL levels
Enter your desired TP/SL price
Fill in the TP/SL trigger price before confirming
Select Confirm to save the changes
Review and confirm:
Double-check the modified levels to ensure they're set correctly
Confirm your changes by selecting Confirm
Which price triggers my TP/SL order?
Applies to futures positions in Exchange mode. When you set or modify a take-profit or a stop-loss order, you select one of three prices as the trigger price:
Last price — the price of the most recent trade on that contract. This is the price the trading chart plots by default, so a trigger set on the last price matches what you see on the chart.
Mark price — the price used for liquidation checks and for calculating the unrealized profit and loss on your position.
Index price — a price derived from external spot markets, used as the reference for expiry settlement.
Your order is only triggered when the price type you selected reaches your trigger price. If you set your trigger on the mark price and then watch the last price on the chart, the two can differ, and your order can trigger at a moment that looks early or late on the chart. Check which price type is selected in the TP/SL panel before you compare a trigger against the chart.For the full setup steps, see How to set up take profit and stop loss of contract transactions.
What are the tips for setting TP/SL?
Assess market conditions: before setting TP/SL levels, evaluate the current market conditions, including volatility and trend direction.
Use technical analysis: employ technical indicators and chart patterns to determine optimal TP/SL levels.
Risk management: ensure your SL is set at a level that limits potential losses to an acceptable amount while placing TP at realistic profit levels.
Regular monitoring: Regularly review and adjust your TP/SL levels based on market changes and new information.
By following these steps, you can efficiently manage your trades and mitigate risk on the OKX platform, ensuring a more disciplined and strategic approach to crypto trading.
Why did my TP/SL fill at a price different from my trigger price?
Applies to futures TP/SL orders. Reaching your trigger price starts your order; it doesn't fix the price you get.When your trigger price is reached, the order you preset when you created the TP/SL is submitted to the market:
If you preset a market order, it's filled at the prices available in the order book at that moment. In a fast-moving market, or after a gap in price, those prices can be some distance from your trigger price. The difference is slippage, and it isn't a system fault.
If you preset a limit order price, your order isn't filled at a price worse than the one you set, but it may not be filled at all if the market moves through your level without enough resting volume at it.
A market TP/SL therefore makes it more likely that your position is closed, while a limit TP/SL gives you control over the price at the cost of the order possibly not being filled. Choose the one that matches what matters more to you on that position.For how the preset order price works, see How to set up take profit and stop loss of contract transactions.
Why does my position still show as open after my TP/SL was triggered?
Applies to futures TP/SL orders that have been triggered. A triggered close can be filled in several parts. Your position stays visible until the full close quantity has been filled, and the parts can be filled at different prices, so it's the average fill price across those parts that determines your result.Check the fills on the order in your order history before you act. If you place another closing order while the first one is still being filled, you can close more than you intended, or open a position in the opposite direction. Give the triggered order time to complete, and use the remaining position size shown on your position rather than the size you started with.
Why was my TP/SL order cancelled without being triggered?
Applies to TP/SL orders attached to a futures position. A TP/SL order exists to reduce or close one specific position. When that position no longer exists — because you closed it yourself, because it was liquidated, or because the contract it was on reached settlement and the position was closed — the TP/SL orders that depended on it have nothing left to reduce, and they're cancelled.This is the standard behaviour, not a failed trigger. It's also why a trigger price that the chart appears to reach after your position has gone doesn't produce a fill: the order was already cancelled at that point. If you open a new position on the same contract, set new TP/SL orders for it, because the cancelled ones aren't restored.
Why do my partial take-profit orders return different amounts?
Applies when you split one futures position across several take-profit orders. The percentage you assign to each take-profit order allocates position quantity, not a fixed cash amount. Each order closes its share of the position at its own trigger price, and a share closed at a higher price returns more than the same share closed at a lower price. The proceeds from each order are therefore different, even when every order is set to the same percentage.This is how the allocation works, not a rounding or a calculation error. To compare the orders, look at the quantity closed and the fill price of each one in your order history rather than at the settlement amount on its own.
What does Reduce Only do on a TP/SL order?
Applies to futures orders. Reduce Only is a risk-control instruction: an order marked Reduce Only can only decrease the size of an existing position. It can't increase your exposure, and it can't open a position in the opposite direction. If your position is smaller than the order quantity when the order is triggered, the order closes what's left of the position and the remaining quantity isn't executed.This is why a Reduce Only stop-loss doesn't turn into a new position once the position it was protecting has gone. It also means that if you want a stop-loss to cover your whole position, its quantity has to match the position size you currently hold. Check that quantity again after a partial take-profit has been filled, because the quantity you set earlier was based on the larger position size you held at the time.
Where do I set take-profit and stop-loss prices for a long or a short position?
Applies to futures positions. For a long position, your take-profit trigger price sits above your entry price and your stop-loss trigger price sits below it, because a long position gains value as the price rises. For a short position it's the other way round: take-profit below your entry price, stop-loss above it.If a trigger price you enter is refused, check whether it's on the correct side of your entry price for the direction of the position you hold. Check the direction of your position first as well, because on a hedged position you can hold a long and a short position on the same contract at the same time, each with its own TP/SL orders.