Market Cap: $3.5132T -1.620%
Volume(24h): $124.0827B 14.460%
Fear & Greed Index:

54 - Neutral

  • Market Cap: $3.5132T -1.620%
  • Volume(24h): $124.0827B 14.460%
  • Fear & Greed Index:
  • Market Cap: $3.5132T -1.620%
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
Top Cryptospedia

Select Language

Select Language

Select Currency

Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos

Take profit and stop loss tutorial of MEXC perpetual contract

Setting stop loss and take profit orders on MEXC's perpetual contract platform empowers traders to safeguard their positions, cap losses, and maximize gains through advanced risk management strategies.

Nov 08, 2024 at 01:24 pm

TAKE PROFIT AND STOP LOSS TUTORIAL FOR MEXC PERPETUAL CONTRACT

Overview
Stop loss and take loss orders are essential aspects of managing risks while trading perpetual contracts. Understanding and effectively utilizing these settings enable traders to protect their profits, limit losses, and enhance their overall trading strategies.

This comprehensive tutorial on MEXC perpetual contracts' take profit and stop loss features will provide a detailed guide on:

  • Setting up take profit and stop loss orders
  • Adjusting and managing orders
  • Utilizing advanced strategies

Steps to Set Up a Take Profit Order

  1. Access the Order Form: Log in to your MEXC account and navigate to the corresponding perpetual contract trading page. Select the trading pair you wish to trade.
  2. Define Trade Parameters: Enter the desired order price, quantity, and leverage (if applicable). Set the "Order Type" to "Take Profit."
  3. Set Take Profit Trigger: Specify the price at which you want to close the position and take profits. If the market price reaches or exceeds the take profit trigger, the order will execute and close your position.
  4. Adjust Advanced Options: MEXC offers advanced take profit settings, including "Trailing Percentage" and "Trigger Price Type." The "Trailing Percentage" feature allows the take profit price to adjust dynamically as the market price fluctuates. "Trigger Price Type" allows you to set the order to trigger based on the last traded price or mark price.
  5. Submit the Order: Once the settings are configured, click "Buy/Long" or "Sell/Short" to place the take profit order.

Steps to Set Up a Stop Loss Order

  1. Open the Order Form: Follow steps 1 and 2 above to access the order form.
  2. Select Stop Loss Type: Set the "Order Type" to "Stop Loss."
  3. Define Stop Loss Trigger: Specify the price at which you want to close the position and limit losses. If the market price reaches or goes below (for short positions) or reaches or goes above (for long positions) the stop loss trigger, the order will execute and close your position.
  4. Adjust Advanced Options: MEXC offers advanced settings for stop loss, including "Reduce Only" and "Trigger Price Type." "Reduce Only" ensures the order only reduces the position, preventing further losses. "Trigger Price Type" allows the order to trigger based on the last traded price or mark price.
  5. Submit the Order: After configuring the settings, click "Buy/Long" or "Sell/Short" to place the stop loss order.

Managing and Adjusting Take Profit and Stop Loss Orders

  1. Monitor Open Orders: You can view your active take profit and stop loss orders in the "Open Orders" section under the trading interface.
  2. Adjust Positions: To modify the take profit or stop loss price, select the order from the "Open Orders" list and click "Edit." Adjust the order parameters as needed and click "Update."
  3. Cancel Orders: You can cancel take profit or stop loss orders anytime by selecting the order from the "Open Orders" list and clicking "Cancel."

Advanced Take Profit and Stop Loss Strategies

  1. Trailing Take Profits: The "Trailing Percentage" feature allows you to set a moving take profit price. As the market price increases, the take profit price will trail behind it, allowing you to capture even greater profits.
  2. Partial Close Stop Loss: Using the "Reduce Only" option for stop loss orders, you can partially close your position while leaving the remaining portion open. This strategy reduces potential losses while maintaining some exposure to the market.
  3. Dynamic Stop Loss: By setting the "Trigger Price Type" to "Mark Price," you can prevent false triggers caused by market fluctuations. The mark price represents a fairer representation of the real-time market value.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Related knowledge

What are the impacts of different contract leverage multiples?

What are the impacts of different contract leverage multiples?

Dec 16,2024 at 12:46pm

Impacts of Different Contract Leverage MultiplesLeverage, a tool leveraged in the financial realm, amplifies trading activities and enhances potential returns while simultaneously magnifying risks. Understanding the implications of varying leverage multiples is paramount for savvy traders. This article delves into the impacts of different contract lever...

Which is more suitable for novices, contract trading or margin trading on Huobi.com?

Which is more suitable for novices, contract trading or margin trading on Huobi.com?

Dec 16,2024 at 12:44pm

Which is More Suitable for Novices: Contract Trading or Margin Trading on Huobi.com?As a novice trader venturing into the world of cryptocurrency trading, the choice between contract trading and margin trading on Huobi.com can be a daunting one. Both instruments offer unique advantages and drawbacks, making it crucial to understand their key differences...

What does the leverage ratio of contract trading mean?

What does the leverage ratio of contract trading mean?

Dec 16,2024 at 12:43pm

What does the leverage ratio of contract trading mean?IntroductionLeverage ratio is a key concept in contract trading, allowing traders to gain exposure to a larger position than their initial capital would allow. This can potentially amplify both profits and losses, making it crucial for traders to understand its implications.Understanding Leverage Rat...

What scams exist in leveraged trading of virtual currency contracts?

What scams exist in leveraged trading of virtual currency contracts?

Dec 16,2024 at 12:42pm

What Scams Exist in Leveraged Trading of Virtual Currency Contracts?Leveraged trading of virtual currency contracts, also known as margin trading, can be a lucrative way to increase your profits. However, it is important to be aware of the various scams that exist in this market so that you can protect yourself from losing your money.Pump-and-dump scams...

What is 20x leverage on Bitcoin contracts?

What is 20x leverage on Bitcoin contracts?

Dec 16,2024 at 12:40pm

What is 20x Leverage on Bitcoin Contracts?IntroductionLeverage is a powerful tool in the world of trading that can magnify both profits and losses. However, it's essential to understand the risks involved before using leverage, especially when trading volatile assets like Bitcoin. In this comprehensive guide, we will delve into the concept of 20x levera...

What is the difference between Huobi’s margin trading and contract trading?

What is the difference between Huobi’s margin trading and contract trading?

Dec 16,2024 at 12:39pm

Understanding the Distinctions between Huobi Margin Trading and Contract TradingIntroductionHuobi, a leading cryptocurrency exchange, offers diverse trading options to cater to traders' varying risk tolerance and investment goals. Among these options are Margin Trading and Contract Trading, each with distinct features and trading mechanisms. This compre...

What are the impacts of different contract leverage multiples?

What are the impacts of different contract leverage multiples?

Dec 16,2024 at 12:46pm

Impacts of Different Contract Leverage MultiplesLeverage, a tool leveraged in the financial realm, amplifies trading activities and enhances potential returns while simultaneously magnifying risks. Understanding the implications of varying leverage multiples is paramount for savvy traders. This article delves into the impacts of different contract lever...

Which is more suitable for novices, contract trading or margin trading on Huobi.com?

Which is more suitable for novices, contract trading or margin trading on Huobi.com?

Dec 16,2024 at 12:44pm

Which is More Suitable for Novices: Contract Trading or Margin Trading on Huobi.com?As a novice trader venturing into the world of cryptocurrency trading, the choice between contract trading and margin trading on Huobi.com can be a daunting one. Both instruments offer unique advantages and drawbacks, making it crucial to understand their key differences...

What does the leverage ratio of contract trading mean?

What does the leverage ratio of contract trading mean?

Dec 16,2024 at 12:43pm

What does the leverage ratio of contract trading mean?IntroductionLeverage ratio is a key concept in contract trading, allowing traders to gain exposure to a larger position than their initial capital would allow. This can potentially amplify both profits and losses, making it crucial for traders to understand its implications.Understanding Leverage Rat...

What scams exist in leveraged trading of virtual currency contracts?

What scams exist in leveraged trading of virtual currency contracts?

Dec 16,2024 at 12:42pm

What Scams Exist in Leveraged Trading of Virtual Currency Contracts?Leveraged trading of virtual currency contracts, also known as margin trading, can be a lucrative way to increase your profits. However, it is important to be aware of the various scams that exist in this market so that you can protect yourself from losing your money.Pump-and-dump scams...

What is 20x leverage on Bitcoin contracts?

What is 20x leverage on Bitcoin contracts?

Dec 16,2024 at 12:40pm

What is 20x Leverage on Bitcoin Contracts?IntroductionLeverage is a powerful tool in the world of trading that can magnify both profits and losses. However, it's essential to understand the risks involved before using leverage, especially when trading volatile assets like Bitcoin. In this comprehensive guide, we will delve into the concept of 20x levera...

What is the difference between Huobi’s margin trading and contract trading?

What is the difference between Huobi’s margin trading and contract trading?

Dec 16,2024 at 12:39pm

Understanding the Distinctions between Huobi Margin Trading and Contract TradingIntroductionHuobi, a leading cryptocurrency exchange, offers diverse trading options to cater to traders' varying risk tolerance and investment goals. Among these options are Margin Trading and Contract Trading, each with distinct features and trading mechanisms. This compre...

See all articles

User not found or password invalid

Your input is correct