Stop-Losses & Take Profits

While using a limit close order, a trader can indicate a stop-loss price where the trade automatically closes if an asset's price hits the indicated level. A limit close order receives take profit input, where an indicated portion of the trade will automatically close at a specified level.

Example: I open a 100 pileUSDB short on FTM while FTM has a price of $2.00. I set a limit close order at $1.80, with a stop-loss set at $2.10, and a take profit of 50% of my total position size set at $1.90. If FTM increased in price to $2.11, my stop-loss would be triggered, closing out my position at $2.10 with a 5% loss. However, if FTM decreased in price to $1.89, my take profit would be triggered, 50% of my trade is closed, and 50% of my order would remain open.

These advanced trading features are typically only found on centralized exchanges, and the Takepile team is proud to offer them to our traders in a decentralized manner!