Stop-Loss Orders
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Last updated
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Stop-loss Market orders only execute when the oracle price crosses a given stop price. A market order will be placed when the price reaches a specified stop price.
By automatically closing your positions when the price crosses the stop price (for long positions) or goes below it (for short positions), stop market orders can be used to prevent losses on your positions. Once triggered, the resulting market order will be immediately filled.
Traders need an open position to execute this order type.
Select the asset you are going to trade in the asset selector drop-down
Choose a side, either long or short (opposite of your open position)
Pick an order type (stop order)
Input your desired Collateral
Enter your limit price in the price field
Input your position size
Click on Place Stop Order
Once you’ve executed the transaction, the order will appear under the Orders tab. When the oracle price reaches the take profit price, the order will be executed, and your position will be opened.
If you want to cancel a Stop-Loss order before it has been executed, then click on Cancel and confirm in your wallet. As mentioned above, cancellations are done on-chain so this will carry a gas fee.
You can open multiple limit orders for the same market. You can manage your stop orders (cancel them) on the Orders tab. No fee is imposed unless the order is executed.
Stop-Market orders are dual-purpose and can be used to exit profitable or unprofitable positions at a certain price point or open new positions once a price barrier has been breached.
