What's Take Profit (TP) and Stop Loss (SL)?
Take Profit (TP) and Stop Loss (SL) are parts of One-Cancels-the-Other (OCO) order. OCO order is a pair of orders that are set simultaneously. If one order is triggered and executed, the other order is automatically canceled. This strategy allows traders to manage their trades more effectively by combining both a TP and an SL order.
Checklist
- How do I place a TP/SL with a Limit Order on OKX?
- Enter Order Details
- App: Limit Order > Amount > tick and select Advanced (TP/SL) > Set your TP/SL > Confirm > Buy
- Insert and select your preferred details for the order
- Enable TP/SL
- Set Trigger prices
- Trade > select TP/SL > OCO > enter amount for TP trigger price and SL trigger price > Sell
Notes
Take Profit (TP): a TP order is designed to automatically buy or sell a position when the market price reaches a specific target, locking in profits.
Stop Loss (SL): an SL order is designed to automatically buy or sell a position when the market price falls to a certain level, limiting potential losses.
Why should I use TP/SL with Limit Order?
Using TP/SL with Limit Orders offers several benefits:
Details follow the official OKX help article; this page is a learning checklist, not an official mirror.
