Take-Profit & Stop-Loss Limit Orders
TP/SL Limit Orders are orders to close a position when when a given profit or loss can be realized. The parameters of TP/SL limit orders are:- Amount: the amount of the position to close
- Trigger Price: the price that the order is executed at
- Limit Price: the price the order is placed at
- The order amount must not exceed the amount of the position.
- The total amount of TP/SL Orders must not exceed the Reduce-Only cap (to prevent DOS on the book).
Take-Profit & Stop-Loss Market Orders
Like their limit order counterparts, TP/SL Market Orders close a position when a given profit / loss can be realized. Though, instead of being executed as a limit order they are executed as a market order. The parameters of TP/SL Market Orders are:- Amount: the size of the position to close
- Trigger Price: the price that the order is executed at
- Limit Price: the max (for a bid) or min (for an ask) price that the order can be filled at