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Echobit Futures Trading | TP/SL (Take Profit / Stop Loss) FAQ

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Q1: What is Take Profit (TP) and Stop Loss (SL)?

Take Profit (TP) and Stop Loss (SL) are risk management tools that help you close positions automatically based on preset conditions.
  • Take Profit (TP): closes your position to lock in profits when the market moves in your favor.
  • Stop Loss (SL): closes your position to limit losses when the market moves against you.
When the selected trigger price reaches your preset TP/SL trigger level, the system will place a closing order according to your preset order price and quantity.
 

Q2: What is TP/SL in the Order Zone?

TP/SL in the Order Zone means setting TP/SL when placing an order (e.g., opening a position or adjusting an order).
You can preset the TP/SL trigger price. When the trigger condition is met, the system will close the position according to the preset TP/SL parameters based on the order amount you placed.
Supported trigger types on Echobit:
  • Latest Price (default)
  • Mark Price
 

Q3: What is TP/SL in the Position Tab?

TP/SL in the Position tab means setting TP/SL for a position you currently hold.
This TP/SL is tied to your current position size. If your position size changes, the available amount for TP/SL may change accordingly.
 

Q4: Which order types support TP/SL on Echobit?

You can set TP/SL for:
  • Limit orders
  • Market orders
 

Q5: Why wasn’t my TP/SL triggered?

Common reasons include:
 
  1. The selected trigger type did not reach the trigger price: Echobit supports Latest Price and Mark Price as trigger types. These prices can differ, so your order may not trigger if the chosen trigger price does not reach the level you set.
  1. Market conditions or system factors: Low liquidity, insufficient market depth, extreme volatility, temporary trading pauses, or system issues may affect triggering and execution.
 

Q6: Why was my position liquidated even though I set TP/SL?

TP/SL helps manage risk, but it does not eliminate liquidation risk. Common causes include:
 
  1. Liquidation is typically based on Mark Price: If you set SL using Latest Price as the trigger, your position may be liquidated before SL triggers when Latest Price and Mark Price deviate significantly.
  1. Fast market movement: In rapid price changes, liquidation and TP/SL may occur almost simultaneously, which can result in liquidation even if you set SL using Mark Price.
Tip: Avoid placing the SL trigger price too close to the liquidation price. Leave sufficient distance for execution.
 

Q7: Why wasn’t my order filled even though the trigger price was reached?

When the trigger price is reached, the TP/SL becomes active, but a fill is not guaranteed—especially for limit TP/SL orders.
 
  1. For long positions (sell to close): if your limit order price is above the market price after triggering and the market keeps falling (or does not return), it may not fill.
  2. For short positions (buy to close): if your limit order price is below the market price after triggering and the market keeps rising (or does not return), it may not fill.
In volatile markets, price can move past your limit price quickly, causing partial fills or non-fills.
 

Q8: Why is my TP/SL fill price different from the trigger price (or Latest Price)?

This is usually due to slippage, especially with market TP/SL:
  1. Market TP/SL executes at the best available prices in the order book. If the order size is large or liquidity is low, fills may occur across multiple price levels, resulting in an average fill price that differs from the trigger price.
  2. Limit TP/SL controls price but may not fill if the market moves away.
 

Q9: Why did my TP/SL fail after it was triggered?

After triggering, execution may still fail due to:
  1. Extreme volatility causing price to gap beyond your preset limit price.
  2. Insufficient market depth/liquidity, leading to partial fills or no fills.
  3. TP/SL quantity exceeding your available position, especially after manual partial closes.
  4. Manual closing/reducing of the position, which may change the remaining size available for TP/SL.
 
Best practices:
  • Use an appropriate trigger type (Latest vs Mark) consistent with your risk plan.
  • Keep SL at a safe distance from liquidation price.
  • Re-check TP/SL quantities after manual position adjustments.
 

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Risk Disclaimer

Cryptocurrency investments are subject to high market risk and price volatility. You should only invest in products that you are familiar with and fully understand the associated risks.
Before making any investment decisions, please carefully assess your investment experience, financial situation, investment objectives, and risk tolerance, and consider seeking advice from an independent financial advisor.
The information provided in this document is for informational purposes only and should not be considered financial, investment, or trading advice. Past performance is not indicative of future results. The value of your investments may fluctuate, and you may lose part or all of your invested capital.
You are solely responsible for your investment decisions. Echobit shall not be liable for any losses or damages arising from your investment activities.

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