Dear CoinEx users:
To improve your transaction efficiency and trading experience, CoinEx has launched the function of "Take-Profit & Stop-Loss" for Perpetual Contract on Web on November 3, 2021. (TP & SL for APP is estimated to be supported in December 2021)
What is "Take-Profit & Stop-Loss"
With "Take-Profit and Stop-Loss", users can set trigger price in advance (I.e. Take-Profit Price or Stop-Loss Price), so that when the mark price or the latest price reaches the pre-set price, market order(s) will be triggered systematically and liquidate all positions at the best price, to achieve the purpose of "Take-Profit" or "Stop-Loss".
Where is the Setting of "Take-Profit & Stop-Loss"
By clicking TP/SP (Take-Profit/Stop-Loss) on the "Current Positions" on the contract trading page, you can set Take-Profit or Stop-Loss separately or simultaneously. Click HERE to learn more.
Rules on Setting "Take-Profit & Stop-Loss"
|
Position |
Operation |
Range of Trigger Price |
|
LONG |
Take-Profit |
Trigger Price > Opening Price |
|
Stop-Loss |
Forced Liq. Price ≤ Trigger Price ≤ Opening Price |
|
|
SHORT |
Take-Profit |
Trigger Price < Opening Price |
|
Stop-Loss |
Opening Price ≤ Trigger Price ≤ Forced Liq. Price |
Notes
1. ONLY the liquidation of ALL positions is available for using "Take-Profit & Stop-Loss". Before the take-profit and stop-loss setting is triggered, no matter if you add or reduce the position, all positions will be closed once the price is triggered;
2. When the position is manually liquidated or you have zero position of this contract, the setting of "Take-Profit & Stop-Loss" will be invalid automatically;
3. When the setting of "Take-Profit & Stop-Loss" is triggered, all pending orders in the current market will be canceled systematically.
About CoinEx Perpetual Contract
Both USDT-M and Coin-M Perpetual Contracts are supported on CoinEx and we provide cryptocurrency long/short services with up to 100X leverage for BTC, ETH Contracts and 3X - 50X leverage for popular cryptocurrencies, such as ADA, DOGE, DOT, SOL, MATIC, BCH etc. To ensure that the platform price is not maliciously manipulated, CoinEx uses the Mark Price to calculate the unrealized PNL while the actual PNL is determined by the actual price of liquidation. In this case, when there is a difference between the platform transaction price and the Mark Price, the unrealized PNL of the user's position at this time will have a certain discrepancy with the actual PNL.
Risk Reminder
The operation of Perpetual Contracts is similar to that of normal market transactions, except that there is no contract delivery for perpetual contracts and it is more convenient to use. Nevertheless, CoinEx strongly suggests that all users should be aware of the fact that cryptocurrency trading is affected by many factors such as the market and policies and the market may fluctuate greatly with unpredictable rises and falls. Please be sure to control the leverage and evaluate the risks before participation.
CoinEx reserves the right of final explanation of this announcement.
CoinEx Team
Nov 3, 2021
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