Stop Loss & Take Profit
Stop Loss (SL)
Stop Loss is an order intended to limit loss when the market moves against the position. Until it is triggered, the Stop Loss level is not placed in the exchange order book; when the specified price is reached, a market order is sent to close the position.
To activate stop orders, the Tiger.com web terminal tracks the Last Price parameter on the exchange.
For trade direction, the following rules apply:
for long trades, the Stop Loss level is set below the entry price of the position (or below the current price if the stop is added to an already open position);
for short trades, the Stop Loss level is set above the entry price of the position (or above the current price if the stop is added to an already open position).
When averaging a position, the following technical restriction applies:
for long trades, Stop Loss must be below all unfilled buy orders;
for short trades, Stop Loss must be above all unfilled sell orders.
Exchange Stop Loss (SLE)
At the moment, Exchange Stop Loss (SLE) is available only for Bybit Futures.
An exchange stop is a stop order that is placed directly on the exchange;
a server stop is a stop order that is processed on the Tiger.com web terminal server;
an active trade is a Smart Trade where the entry order has already been executed.
The exchange stop applies to the entire position for the corresponding trading pair and direction (long or short).
Exchange stop activation is configured in the Smart Trade editing mode in the Tiger.com web terminal.
Before using an exchange stop, understanding its behavior in Smart Trades is required. To avoid confusion when managing a position, using an exchange stop within a single Smart Trade is recommended, while position building is performed via the averaging function rather than by creating multiple Smart Trades for the same trading pair.
Compatibility with other functions
The exchange stop is not used together with the following functions:
The exchange stop can be used together with the following functions:
Exchange stop behavior examples
Initial conditions: there are several active Smart Trades for one trading pair and direction, and an exchange stop is set in each of them.
Example 1. Changing the exchange stop level in all active trades Conditions: in trades 1, 2, and 3, an exchange stop is set at $5. Action: in trade 2, the exchange stop price is changed to $4. Result: in all three trades, the exchange stop is set at $4.
Example 2. Disabling the exchange stop in all active trades Conditions: in trades 1, 2, and 3, an exchange stop is set at $5. Action: the exchange stop is disabled in trade 1. Result: the exchange stop is disabled in all active Smart Trades (all trades have no Stop Loss).
Additionally: enabling SL Timeout, Stop Loss Trailing, or Take Profit Trailing also deactivates the exchange stop when the configuration is saved.
Example 3. Replacing an exchange stop with a server stop in one trade Conditions: in trades 1, 2, and 3, an exchange stop is set at $5. Action: in trade 2, the exchange stop is replaced with a server stop with a level of $4. Result: in trade 1, the exchange stop is removed; in trade 2, a server stop at $4 is set; in trade 3, the exchange stop is removed.
Example 4. Exchange stop synchronization when entering a new trade Conditions: in trades 1 and 2, an exchange stop is set at $5; in trade 3, an exchange stop is set at $4, and the entry order has not yet been executed (the position has not been opened). Action: the entry order in trade 3 is executed. Result: in all three trades, the exchange stop is set at $4.
Simultaneous use of server and exchange stops
It is possible to use an exchange stop and a server stop simultaneously in different Smart Trades for the same pair and direction.
Example 1. Server stop is triggered first: part of the position is closed
Conditions: Trade 1 with a volume of 2 contracts: server stop at $5; Trade 2 with a volume of 3 contracts: exchange stop at $4; Trade 3 with a volume of 4 contracts: exchange stop at $4; total position volume is 9 contracts.
Action: the price reaches $5, and the server stop in trade 1 is triggered. Result: trade 1 is closed by the stop; trades 2 and 3 remain active, the exchange stop for them remains at $4; the current position volume on the exchange is 7 contracts.
Example 2. Exchange stop is triggered first: the entire position is closed
Conditions: Trade 1: exchange stop at $5; Trade 2: server stop at $4; Trade 3: server stop at $3, the entry order has not been executed; Trade 4: exchange stop at $2, the entry order has not been executed.
Action: the price moves down to $5, and the exchange stop is triggered. Result: trades 1 and 2 are closed at the current price; trades 3 and 4 remain in the trades list in the Tiger.com web terminal, entry orders for them are not executed and the predefined parameters remain unchanged.
Summary: server stops can work independently of exchange stops and close only the part of the position to which they belong. If the exchange stop is triggered first, the entire position on the exchange is closed, and all active Smart Trades for this pair and direction are closed as well.
Take Profit (TP)
Take Profit is an order used to lock in profit when the price reaches a specified level.
For long trades, TP is set above the entry price;
for short trades, TP is set below the entry price.
In the Tiger.com web terminal, Stop Loss and up to 8 Take Profit targets can be set simultaneously.
TP can be of two types:
Limit TP β a limit order that is placed in the order book in advance;
Market TP β a market order that is triggered by Last Price.
The screenshot shows a limit Take Profit order. To switch the order type to market, click LIMIT.
Market Take Profit
does not lock free funds on the exchange;
the actual execution price can differ from the expected price, especially during sharp market moves.
There are situations when a market TP may fail to execute, for example during a sharp spike or squeeze: a large market order removes liquidity from the order book, the price instantly jumps and then quickly returns. At that moment, the TP order may not have time to be filled.
Limit Take Profit
is always placed on the exchange in advance;
funds required for execution are reserved;
guarantees that the trade will be closed at a price not worse than the specified level (if the price reaches the order level and there is sufficient liquidity).
Trailing Take Profit
Trailing TP works only with market orders.
If Trailing is enabled for an existing Limit TP:
the order is executed as a market order;
if several TP targets are set, trailing is applied only to the last target, which is executed by a market order when the conditions are met.
How to set Stop Loss and Take Profit
Stop Loss and Take Profit can be set in several ways.
Via the chart
On the chart panel, the +SL or +TP button is pressed;
after this, the TP/SL block is automatically enabled in the trade creation form.
Via the trade creation form
In the order form, the TP/SL switch is enabled;
mode selection becomes available: Basic or Advanced.
Via the active trades list
In the active trades block, the required Smart Trade is selected by clicking the trading pair or the pencil icon;
the trade editing window opens with Stop Loss / Take Profit settings.
TP/SL modes
Basic mode
One Stop Loss level and one Take Profit level;
levels can be set by price or as a percentage of the entry price.
Advanced mode
When the Advanced TP/SL button is pressed, a separate window with extended settings opens:
up to 8 Take Profit targets with different levels and volumes (partial position close);
Trailing SL and/or Trailing TP;
levels can be specified by price or percentage.
In Advanced mode, a flexible exit scenario for the position is configured within a single Smart Trade.
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