How do I set Take Profit and Stop Loss (TP/SL) in futures trading?
What's Take Profit and Stop Loss (TP/SL)？
Take Profit and Stop Loss (TP/SL) is a type of conditional order in futures trading. You preset a trigger price and an order price. When the selected trigger price (Last Price / Mark Price / Index Price) reaches the predefined trigger level, the system will automatically place your preset order into the market.
TP/SL can be used to:
Close a position to lock in profits (Take Profit)
Close a position to limit potential losses (Stop Loss)
Enter positions based on breakout strategies
TP/SL is an important risk management tool in futures trading:
If the market moves against your position, setting a Stop Loss helps limit losses.
If the market moves in your favor, setting a Take Profit helps secure gains.
How do I set Take Profit and Stop Loss (TP/SL)?
On the app
Open your OKX app, go to trading page
Find Positions & assets, find the position you'd like to close and select TP/SL.
There are three take profit/stop loss modes: Partial position, Entire Position, and Trailing Stop.
Partial position: sets take-profit and stop-loss for a fixed position size. The size does not change when you increase or reduce your position. You can set multiple TP/SL orders.
Entire position: sets take-profit and stop-loss for your entire position. The order size adjusts automatically when you increase or reduce your position.
Trailing stop: Orders that track the market price, executing based on the price movement range (price distance or ratio) relative to the market price.
Based on the selected take-profit and stop-loss mode, enter the required parameters such as Trigger price, Order type, and Amount. Then select Confirm to complete the setup.
If you would like to take profit in batches (gradually closing a position at different price levels), you can use the Partial position mode under Advanced settings.
In this mode, you can set take-profit orders for fixed portions of your position. For example, you can divide your position into multiple parts, such as five portions of 20% each, and set different take-profit prices for each 20%. This allows you to lock in profits step by step at different price levels.
On the web
Set take profit and stop loss when opening a position
Go to your trading page, select TP/SL after opening a position, input the TP price and SL price
Select the order type and after setting it up, confirm Buy(long) or Sell(short) to proceed.
You can also select Advanced to set different TP/SL modes.
Set take profit and stop loss on your position
Go to your trading page, go to Open positions > +Add under TP/SL
You can choose different types of take profit and stop loss (partial position, entire positions, trailing stop) according to your needs.
Select Confirm once you completed the setup
Wha't the defination of the TP/SL terms?
Trigger Price: the price that activates your take-profit (TP) or stop-loss (SL) order. When the selected price (Latest price, Mark price, or Index price) reaches the trigger price, the system submits your order to the market.
Order Price: the price at which your TP or SL order will be placed after it is triggered.Latest Price: The real-time execution price in the order book.
Mark Price: a reference price used to calculate unrealized PnL and reduce liquidation risk. Mark Price = Spot index price + Moving Average of basis.
Index Price: the weighted average spot price from multiple major exchanges.
Notes about TP/SL orders
If the contract price doesn't reach the Trigger price, the order won't enter the market.
Once the Trigger price is reached, the order will be submitted to the market at the preset Order price.
If the order is filled, it may close your existing position or open a new position, depending on your order settings. If the order is not filled, your position and margin will remain unchanged.
Your position and margin won't be frozen before the order is successfully triggered.
If the preset Order Price violates the price limit rules at the time of triggering, the system will place the order using the highest or lowest allowable price at that moment.
Take-profit and stop-loss orders aren't guaranteed to be triggered successfully. They may fail due to:
Price limit restrictions
Position limits
Insufficient margin
The contract being in a non-trading state
System-related factors
A triggered limit order is treated the same as a regular limit order and is not guaranteed to be filled. Unfilled limit orders will appear in Open orders.
During periods of extreme market volatility, your order may not be filled.
If you need to close all positions immediately, select the specific position and choose Close all at market price.