How to set take-profit and stop-loss on HedgerX
Take-profit and stop-loss close a futures position at a level you choose. HedgerX executes them as market orders, so the fill can differ from the trigger.
A stop-loss placed too close to the liquidation price may never trigger, because the liquidation price can be reached first.
Steps
- Open the futures trading page. On the web or in the app.
- Choose when to set it. Before you open a position, use the TP/SL option in the order panel (Advanced in the app). For an existing position, open Positions and choose Add or +TP/SL.
- Pick the trigger price type. Last, mark or index price.
- Pick the trigger basis. USDT, ROE or PNL.
- Choose the scope. For an existing position, apply it to the entire position or a part of it.
- Decide on the reverse option. Take-profit reverse or stop-loss reverse opens the same quantity in the opposite direction when it triggers. If the reverse order cannot fill fully, only part may open.
What each does
A take-profit closes the position when the price reaches a gain you set. A stop-loss closes it when the price reaches a loss you set. Both help you stick to a plan and limit losses.
If you set them before opening, the system creates the TP/SL order once your open order fills, fully or in part. Actual ROE or PNL can differ from the numbers you entered because of fees, slippage and changes in the average entry price.
Limits
HedgerX does not guarantee exact execution. In fast markets the price can pass your level before the order fills, so combine TP/SL with your own market analysis.
Frequently asked questions
Does adding to a position move my TP/SL price?
No. Adding changes your average entry price, but the trigger price you set stays fixed.
What happens to TP/SL when I close the position?
The linked TP/SL order is cancelled automatically.
Why did my TP/SL fail to place?
HedgerX names high volatility, a position too small to close, and system delays. Triggered orders execute at market price, which may differ from the trigger.
Open a HedgerX account
TP/SL orders are placed on a HedgerX account. Register, secure it and practise with a small position first.
Registration takes a few minutes. HedgerX states that its services are not available in China, Turkey, Kazakhstan and Indonesia. Futures trading can liquidate your position. This page is not financial advice.
Open a HedgerX accountThis is a referral link. We may earn a commission if you register.