How to set Trailing Stop
- Go to the position page, tap on [TP/SL] to enter the [Add TP/SL] pop-up, and then switch on Set TP or Set SL which is off by default.
- If you'd like to implement a TP/SL on a partial margin, tap on [Set Partial TP] or [Set Partial SL] and an input field for Closing Margin will unfold. The default value is the entire margin (100%), and you can change it to your desired value.
- Set TP/SL by ratio or by price, and the system will automatically estimate related parameters. The estimated values are for reference only without counting in fees such as trading fees. The final profit shall be based on the actual trigger price. The estimated TP or SL is calculated based on the Closing Margin you set. The estimated TP or SL ratio is calculated based on the remaining margin of the position.
- Set by price: Enter a trigger price for TP or SL.
- Set by ratio: Enter a trigger percentage for TP or SL.
- Tap on "OK" to save the settings.
How to edit TP/SL
- After TP or SL is set, you'll find that the [TP/SL] button turns into [Check TP/SL] on the position page. Tap on [Check TP/SL] to view all of your TP/SL settings. You can also modify each TP or SL setting or cancel any setting.
TS Setting Rules
- You can add TP or SL on the page displayed after tapping on [Check TP/SL]. Tap on [Add TP/SL] and set TP/SL on the ensued pop-up.TP/SL should be set according to the following rules:
- TP/SL cannot be added when the 100% position/margin is already covered by the existing TP/SL setting(s). You can cancel or edit some TP/SL settings before adding a new TP/SL.
- TP/SL can only be added to the entire remaining margin if the remaining margin is less than the minimum trading size of the trading pair.
- You can create up to 20 TP/SL settings. When the number of settings reaches 20, you can cancel some TP/SL settings to add new ones.
- The Est. Profit (rate) displayed is an estimated value which does not count in fees such as trading fees and is subject to a certain loss of precision. Therefore, there might be a difference between the estimated value and the actual profit (rate) when TP/SL is triggered. The calculation method is as follows:
- Estimated TP/SL (T):
By price: Estimated TP/SL (T) = [Transaction Direction * Margin * Leverage * Exchange Rate When Position Opens * (Closing Price - Opening Price)/Opening Price]/ Exchange Rate When Position Closes
- By ratio: Estimated TP/SL (T) = Closing Margin * TP/SL Ratio
- Estimated TP/SL Rate (TR) = Estimated TP/SL / Remaining Margin * 100%
- After Partial TP/SL is set, the margin will be adjusted according to the following rules:
- You can increase the position margin.
- You cannot reduce the position margin before manually canceling the TP/SL setting, otherwise, a reduction in position margin could trigger TP/SL instantly.
- After partial TP/SL is set, manually closing a partial position can have the following effect on TP/SL:
How to Handle
Manually close a partial position
After reducing the position margin, if the TP/SL is larger than the current margin, users can reduce the Closing Margin for each setting (starting from the earliest one) until the combined Closing Margin equals the current margin.
Users need to handle TP and SL separately according to the rule above.
Otherwise, the TP/SL parameters will not be updated.
- A user buys long ETH position with 500 USDT margin.
- The user sets Partial SL at 200 USDT (40%) with an SL trigger price of 3400 USDT and then adds new Partial SL at 200 USDT (40%) with an SL trigger price of 3000 USDT.
- The user closes out 350 USDT position, leaving the remaining margin at 150 USDT. (500-350=150)
- After the partial closing:
- The SL order with Partial SL at 200 USDT (40%) and an SL trigger price of 3400 USDT will be canceled in the first place;
- The SL order with Partial SL of 200 USDT (40%) and an SL trigger price of 3000 USDT will be updated from 200 USDT->150 USDT/40%->100%/Price 3000 USDT.
1. If I have more than one mobile device, and one of them is updated to the latest version of BingX with the Partial Position Close feature, after I set Partial TP/SL, what would I see on my other devices with earlier versions of BingX? And what operations can I do?
- If you set 1 Partial TP or SL under the [Add TP/SL] tab, you cannot edit it or add a new one on other devices.
- If you set more than one Partial TP or SL, you can only see the most recent setting on other devices.
2. I set TP/SL by ratio and select 50%, however, the actual profit rate is not 50% when TP/SL is triggered. Why is that?
- The Est. Profit (rate) is an estimated value which does not count in fees such as trading fees and is subject to a certain loss of precision (E.g., the three decimal places rounds to two decimal places). Therefore, there might be a difference between the estimated value and the actual profit (rate) when TP/SL is triggered.
3. Why can't I add TP/SL?
- Your TP/SL setting(s) has covered 100% margin.
- Your TP/SL settings reach the Max. 20.
- You already have 19 TP or SL settings and the 20th TP/SL you hope to add includes both TP and SL settings, which actually increases your total settings to 21 and exceeds the limit.
4. After setting Partial TP/SL, can I adjust the margin?
- You can increase the margin but not reduce the position margin because a reduction in position margin could trigger TP/SL instantly. Therefore, you need to manually cancel TP/SL before reducing the margin.