How To Set Take Profit and Stop Loss When Placing an Order in KuCoin Futures? (APP)| KuCoin (2024)

FAQs

How To Set Take Profit and Stop Loss When Placing an Order in KuCoin Futures? (APP)| KuCoin? ›

To enable this feature, users need to tap the "…" icon on the upper right corner of the page, then tap "Feature Preference" --> enable "Take Profit & Stop Loss". In the order-placing panel for Limit and Market order, tap "Take Profit & Stop Loss", and choose "Last price" or "Mark price" to trigger the order.

After you bought shares, you can set Stop Loss and Take Profit parameters to automate your trading. You can set these parameters in the Web-terminal by clicking on the Positions tab (1) at the bottom of the screen. If you scroll to the right (2), you can see the Stop Loss (3) and Take Profit (4) buttons.

Standard Stop-Loss Order

This is the most basic form of stop-loss. A trader sets a predetermined price at which a futures contract will be automatically sold. For instance, if you buy a contract at $1,200 and set a standard stop-loss at $1,150, the contract will be sold if its price drops to or below $1,150.

To help users maximize their profits, KuCoin supports trailing stop orders under advanced order types. With trailing stop orders, users can lock in profits and reduce losses.

Realized PNL occur when you partially close or reduce your position, including trade profit and loss, trading fee, and funding fee.

It is acceptable to simultaneously place a profit target and place an order to enter the market on a stop, because the market will usually trade through and fill the stop order before the market reaches and fills the profit target.

A very popular profit-taking strategy, equally applicable to option trading, is the trailing stop strategy wherein a pre-determined percentage level (say 5%) is set for a specific target. For example, assume you buy 10 option contracts at $80 (totaling $800) with $100 as profit target and $70 as a stop-loss.

Although there is no general way of structuring your stop loss and take profit orders, most traders try to have a 1:2 risk/reward ratio. For instance, if you are willing to risk 1% of your investment, then you can target a 2% profit per trade.

How to set take profit and Stop Loss in Binance? ›

On the right side of the trading interface, choose your order type and input the amount you want to trade. Finally, tick the trading option for TP/SL to activate it. Input your Take Profit and Stop Loss price and continue to BUY or SELL the pair.

The key is picking a stop-loss percentage that allows a stock to fluctuate day-to-day, while also preventing as much downside risk as possible. Setting a 5% stop-loss order on a stock that has a history of fluctuating 10% or more in a week may not be the best strategy.

Rather set your stop loss one or two ticks below a support level or one or two ticks above a resistance level. For example: If a support level has formed at $20.00, set the stop loss at $19.90 so that you are only stopped out if the support level is penetrated.

Disadvantages of Trailing Stop Loss

However, there could be potential downsides, including: Not all brokers allow traders to place stop-loss orders for certain stocks or exchange-traded funds. Over-reliance on this strategy may limit a trader's ability to analyse market dynamics and make independent trading decisions.

The most common way to lock in profits using options is done by purchasing an out-of-the-money call or put wherever you'd like to lock in profit. An option gives you the right to buy or sell a futures contract from a specified price. If you are long a market, you would want to purchase a put to lock in profit.

In the assets page, you can check your total assets, the weighted BTC and USDT equity, available balance, position margin, order margin, unrealised pnl and the pnl history in your account. In the “Pnl History” part, you can check the historical profit and loss of your positions.

How Do Stop Limit Orders Work on KuCoin Spot? A stop limit order includes a stop price and a limit price. When the market price reaches or exceeds the stop price, the order is triggered, and a limit order is placed at the specified limit price.

You can also set stop-loss or take-profit orders for an UpDown Option in the Crypto.com App in a similar way (currently only available in the US): Select an UpDown Options contract to trade. Click 'Advanced Trading Options'. Toggle on 'Take Profit' or 'Stop Loss'.