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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 requirements for placing a TP/SL Order are:
  1. The order amount must not exceed the amount of the position.
  2. The total amount of TP/SL Orders must not exceed the Reduce-Only cap (to prevent DOS on the book).
A Take-Profit can be posted on the book like a normal limit order. A Stop-Loss is placed by signing the order. The order will be posted by a keeper when the best bid (for an ask SL) is below the Limit Price or the best ask (for a bid SL) is above the Limit Price.

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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
TP/SL Market Orders are placed by signing the order, and are executed by a keeper when the best bid (for a sell) is ≤ Trigger Price or the best ask (for a buy) is ≥ Trigger price.