BingX Perpetual Futures introduces the "Position TP/SL" feature, enabling users to close a position when the trigger price is reached, without considering order amount and position changes.
*For the app experience, please update to version 4.7.0
or above (listing time may vary on different application stores, so please stay tuned).
I. What Is Position TP/SL?
Position TP/SL enables users to take profit or stop loss for an entire position. The TP/SL amount dynamically adjusts as the position size changes (either increased or decreased). When the market price (Mark/Last/Index price) reaches the trigger price, the position will be closed at the market price.
Position TP/SL is executed as market orders, ensuring immediate execution but without guaranteeing the filled price, which may result in slippage.
User A currently holds a 0.1 BTC long position and enables "Position TP/SL". User A sets the TP price at 42,000 USDT with the trigger type set to "Last Price".
Later, User A adds 0.2 BTC to the long position. When the BTC last price reaches 42,000 USDT, the system will close the entire long position of 0.3 BTC at the market price.
II. How to Set Up Position TP/SL?
1. In Hedge Mode, click "Position" - "Position TP/SL" to enter the setting page.
2. Check "Take Profit" or "Stop Loss". Enter the trigger price or TP/SL ratio for each parameter, then click "Confirm".
3. If you wish to modify the trigger price for your Position TP/SL, you can do so in "Position" - "Position TP/SL", or in the "Open Orders" section.
III. What Are the Differences Between "Position TP/SL" and "TP/SL"?
"TP/SL" allows you to freely set your order amount and supports setting different TP/SL for multiple orders.
"Position TP/SL" does not require setting the order amount. The TP/SL amount dynamically adjusts as the position size changes, but does not support setting different TP/SL for multiple orders.
1. Position TP/SL does not support setting Guaranteed TP.
2. Position TP/SL does not support One-Way Mode.
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