How to Use the TP/SL Feature for Limit Orders

1. Definition of Limit Order TP/SL

2. Effective Conditions

2.1 One-way Limit Order: Buying Digital Assets

• The TP/SL feature of the limit order can only be triggered after the limit buy order is completely filled.

• You can set up the TP/SL feature for sell orders simultaneously when placing the limit order.

• Within your TP/SL feature, only one sell order will be triggered, and the other sell order will be canceled.

2.2 One-way Limit Order: Selling Digital Assets

• The TP/SL feature of the limit order can only be triggered after the limit sell order is completely filled.

• You can set up the TP/SL feature for buy orders simultaneously when placing the limit order.

• Within your TP/SL feature, only one buy order will be triggered, and the other buy order will be canceled.

2.3 Usage Example (Using MX Token as an Example)

1. Setting Limit Orders

• Set your desired buy price and buy quantity, e.g. 2 USDT/MX and 100 MX tokens.

• After completing the setup, the limit buy order will be waiting to be triggered.

2. Using TP Feature with Limit Orders

• TP (Sell Order) Trigger Price: When the MX token is on an upward trend, this price (B) will be triggered. In this scenario, you can set it at 3.5 USDT/MX.

3. Using SL Feature with Limit Orders

• If you are concerned that MX might not rise to 3.5 USDT/MX and a downtrend might occur, and you wish to exit at 1.5 USDT/MX.

• SL (Sell Order) Trigger Price: When the MX token is in a downtrend, this price (B1) will be triggered. In this scenario, you can set it at 1.5 USDT/MX.

4. Estimated Profit/Loss (Excluding Trading Fees)

• Expected Profit:

• Expected Loss:

2.4 Limit Order TP/SL feature vs Stop-Limit Orders

1. Trading Methods

• The Limit Order TP/SL feature includes two trading behaviors: Buy first, then sell, or sell first, then buy.

• Stop-limit orders only include one trading behavior:buy or sell.

2. Applicability

• The Limit Order TP/SL feature is suitable for complex trading systems:

• Stop-limit orders are suitable for relatively simple trading systems:

3. Operational Pathway (Using MX Token as an Example)

3.1 MEXC Official Website

3.2 Gentle Reminder

• The TP/SL points are triggered effectively when the corresponding limit order is completely filled. If the limit order is only partially filled, the TP/SL functions will not activate, even if the set trigger prices for TP/SL are reached.

• When a limit order (buy order) and TP/SL points are set, the system will use the quantity of the completely filled limit order as the order quantity for TP/SL.

• When a limit order (sell order) and TP/SL points are set, the system will use the amount of the completely filled limit order as the order amount for TP/SL.

• Reasons why TP/SL points may become ineffective upon reaching the specified prices:

• Tutorials and guides may vary across different operating systems. Please refer to yourcurrent operating system for accuracy.

4. Conclusion