With the Take-Profit and Stop-Loss functions, traders reduce the risk of losses.
By activating the Take-Profit and Stop-Loss settings, all positions are liquidated.
Sudden rises and falls in prices are common in the cryptocurrency market, and bankruptcies and forced liquidations can make even the most experienced traders despair. If you do not have enough knowledge about how to make a profit and reduce the risk of loss, it is very likely that the world of cryptocurrencies will liquidate you. But CoinEx offers new trading features that will be very useful in this case.
What you should know about functions Take-Profit and Take-Loss
With trading options Take-Profit and Stop-Loss, users can set the activation price in advance. In this way, when the market price reaches the preset price, the market orders will be executed automatically, activating the Take Profit O Stop Loss.
In perpetual trading, if you don’t take the profits on time when the price reaches the expected point, you can risk losing your money. The same goes for the Stop-Loss. If you do not activate it in time, it is likely that the position will be liquidated.
Therefore, by setting Take-Profit and Stop-Loss at the right time, investors can maximize profits and minimize losses. This method is an effective way to manage risk and therefore essential for anyone looking to make a profit from cryptocurrency trading.
CoinEx and its new trading features
To improve efficiency and user experience and make contract trading more profitable and flexible, CoinEx launched the functions Take-Profit and Stop-Loss in November 2021 on their website (not available in the APP for now). Clicking Take-Profit/Stop-Loss and then under “Current Positions” in the contracts section, the user can configure both functions separately or simultaneously.
Notably Take-Profit and Stop-Loss they can only be used for the settlement of ALL positions, not for the partial settlement of them. It does not matter which position was increased or decreased prior to the activation of the Take-Profit and Stop-Loss, all positions will be liquidated once activated. When the position is settled manually or the user has a zero position in the contract, the adjustment will be invalid automatically. And, once active, all pending orders in the current market will be canceled.
Users can enter the CoinEx website to use the new trading features on the perpetual contracts page, and enjoy higher efficiency when operating. CoinEx provides its clients with the most diversified crypto asset trading services, based on its comprehensive risk management system, premium product features and an up-to-date system.
As a professional and global cryptocurrency exchange service provider, CoinEx was founded in December 2017. It is a subsidiary brand of ViaBTC Group, which owns one of the largest bitcoin (BTC) mining pools, and is also a major bitcoin cash (BCH) mining pool.
CoinEx offers perpetual contract trading, spot trading, margin trading, and other derivative trading. Their service is global in scope, and is available in almost 100 countries / regions around the world.
Disclaimer: The content and links provided in this article are for informational purposes only. CriptoNoticias does not offer legal, financial or investment recommendations or advice, nor does it substitute the due diligence of each interested party. CriptoNoticias does not endorse any investment or similar offer promoted here. click here for more information.