Topics
    How to Set Up and Modify Your TP/SL (Perpetual and Futures Contracts)
    bybit2024-06-23 12:05:06
    On the AppOn the Website

    Here’s a step-by-step guide to setting up and modifying your TP/SL order on Bybit.

     

       

       


      Read More
      Introduction to Take Profit and Stop Loss (Perpetual and Futures Contracts)




       

       

      Set Your TP/SL Order

      Step 1: To set TP/SL at the same time as order placement, please enter your order quantity and tap on the TP/SL box in the order zone.

       

       

      TPSL App 01.png

       

       

       

       

      Step 2: To set up your TP/SL order parameters according to the following steps:

       

      a) Add TP/SL upon order creation

       

      TPSL App 02.png

      • Select the direction of the position: Long or Short
      • Enter your desired TP/SL level
      • Select your preference: Entire Position or Current Order

      Notes:

      Entire Position: The TP/SL applies to the entire position. Once the order is fully or partially filled, the TP/SL order will be placed for the entire position. When the TP/SL order for entire position is triggered, a market order will be placed and executed to close the entire position.

      Current Order: The TP/SL applies to the current order quantity set upon order creation. Once the order is fully or partially filled, the TP/SL order will be placed. When the TP (or SL) Trigger Price of individual TP/SL orders are reached, the respective TP/SL order quantities will be closed via either Market or Limit orders, and the corresponding SL (or TP) order will be canceled. For more information, please refer to the Scenario 4 stated here.

      • Choose whether you want to take profit or stop loss by ROI%, Change % or P&L.

       

      TPSL App 03.png

      Notes:

      – By setting TP/SL by ROI%, you enter your desired ROI (%) and the system will calculate the TP/SL trigger price based on your ROI (%) and reference price (Last, Index or Mark Price).  

      – By setting TP/SL by Change %, you set the trigger price for TP/SL based on the reference price (Last, Index or Mark Price), or select a percentage increase or decrease of the entry price. The system will calculate an estimated P&L and ROI% for your reference.

      – By setting TP/SL by P&L, you enter your expected position profit or loss (excluding fees) and the system will calculate a TP/SL trigger price based on your expected P&L and reference price (Last, Index or Mark Price).

       

      TPSL App 04.png

      • Under TP/SL for current order or partial position, you can set up a TP/SL limit order. A TP/SL limit order works similarly to conditional limit order with close on trigger. You will need to set up both TP/SL trigger price and the limit order price. Do note that there is no guaranteed execution for TP/SL limit orders. To learn more about conditional limit order, please refer to the help article here.

       

      TPSL App 05.png

      Then click on Confirm

       

       

      b) Add TP/SL to an open position

      • Tap on Set TP/SL on your positions

       

      TPSL App 06.png

      • Enter your desired TP/SL level
      • Select your preferred TP/SL mode: Entire Position or Partial Position

      Entire Position: The TP/SL applies to the entire position. Once the order is fully or partially filled, the TP/SL order will be placed for the entire position. When the TP/SL order for entire position is triggered, a market order will be placed and executed to close the entire position.

      Partial Position: The TP/SL applies to the current order quantity set. You can set multiple TP/SL for the position, and specify the order quantity. When the TP (or SL) Trigger Price of individual TP/SL orders are reached, the respective TP/SL order quantities will be closed via either Market or Limit orders, and the corresponding SL (or TP) order will be canceled.

      • Choose whether you want to Take Profit or Stop Loss by ROI(%), Change % or P&L.


      Then click on Confirm.

       

      TPSL App 07.png

      With these parameters set, your TP/SL order will be automatically applied to your position once the order is partially/entirely filled, based on your selected preferences.

       

       

       

       

       

       

       

       

       

       

      Modify Your TP/SL Order

      Step 1: Tap on the TP/SL on your position as shown below.

       

      TPSL App 08.png

       

       

       

       

      Step 2: In the TP/SL window, you can adjust the TP/SL Qty (For Partial Position TP/SL) and other TP/SL parameters.

       

      TPSL App 09.png

      Then click on Confirm.

       

       

       

       

       

       

       

       

      Cancel Your TP/SL Order

      Step 1:  Tap on the TP/SL on your position as shown below.

       

      TPSL App 10.png

       

       

       

       

      Step 2: Cancel your TP/SL order based on your TP/SL preference:

      • Entire Position: Tap on the remove icon next to your trigger settings, then click on Confirm
      • Partial Position: Tap on Cancel on the respective TP/SL order you want to remove. You can also Tap on Cancel All in the upper right corner to cancel all TP/SL orders for partial position. 

       

      TPSL App 11.png

      Was it helpful?
      yesYesyesNo