Setting TP/SL
How to set and change a Take Profit and/or Stop Loss. Trades are automatically closed when the asset prices reaches these specified values
Last updated
How to set and change a Take Profit and/or Stop Loss. Trades are automatically closed when the asset prices reaches these specified values
Last updated
There are various methods in setting and changing Take Profits and Stop Losses.
When the bot replies to an open trade submission, a blue button titled Add TP/SL is attached with it's response. Clicking this will prompt a user friendly popup where values can be specified for Take Profit and/or Stop Loss. Set the value for one or both.
The bot will not allow a value below the current market price to be set for a Take Profit, and a value above the current market price to be set for a Stop Loss- and vice versa for short positions.
This button can also be used to change or remove existing TPs and SLs. To change, simply specify a new value. To remove one or both, set the value to 0 (zero) or leave the fields blank.
Did you know?
Using the $list or /list command will display all open trades where each one has a button to add or change TP/SL.
After successfully setting or changing a TP/SL, the bot sends a ephemeral message to confirm the values specified. The bot will also edit it's response embed to the submitted trade to display the TP/SL values.
Take Profit and/or Stop Loss values can be specified anywhere within the trade notes when submitting a trade. When using the keyword letters TP and/or SL, any numbers following after them will be the values used. It's sophisticated in a way where symbols or words can be used between TP/SL and the number values.
Specify the price after the keyword letters
TP&SL| To cancel or remove a TP/SL, set it to 0 (zero). Examples;TP 2.34 SL 1.23 TP @ 2.34 and SL @ 1.23 TP is 2.34 & SL is 1.23(Any symbol or word can be used where@andisare.)
The $list or /list command displays all open trades ordered by most recent. Specifying a ticker with the command will show only open trades for that ticker symbol.
A TP/SL can be added, changed, or removed at any time by using the $list or /list command. It displays all your open trades 4 at a time. Each trade has a TP/SL button that can be used to specify new or remove values.
Trades are intended to auto close when the asset's price reaches or exceeds the specified TP/SL values. When this occurs, the bot will send a message notification in the originating server channel the trade was opened in, as well send a DM notification (if enabled) to the trader or user.
Note: Auto closing at TP/SL when hit is not always 100% successful with volatility. If you have them set and a trade didn't close when it should, please use the $fixtrade command or reach out to support.
Editor notes: Add .gif of setting TP/SL and bot editing the embed.
