TP/SL : Take Profit & Stop Loss

Automatically manage your exposure

Surge allows you to add a Take Profit and/or a Stop Loss to a trade. These allow for a trade to be automatically closed at the prevailing Oracle price once a threshold price has been achieved (in or out of the money). TP and SL levels are prices (like the market price).

Take Profit

A take profit price level is typically used to lock in profits on a trade and would be set above (below) the entry price for a long (short) trade. Once the take profit level is reached then the open trade could be closed by Keepers.

Stop Loss

A stop loss is typically used to limit the losses on a trade and would be set below (above) the entry price for a long (short) trade. Once the stop loss level is reached then the open trade could be closed by a keeper.

Example

Here is a market order to go long BTCUSD with a TP at 72,000 and SL at 71,600. Entry price on the trade is 71,811.

In this trade (long at 71,811):

• If BTCUSD goes higher, above 72,000 then a keeper could work to sell out the position. This should lock in profits on the trade*

• If BTCUSD goes lower, below 71,600 then a keeper could work to sell out the position. This will lock in a loss on the trade.

*If a TP level is very close to the entry price then it is possible that trading fees could erode the profit on a trade.