What is add Stop/Limit, also known as Stop Loss/Take Profit.
By adding Stop to a trade, it is to set a price for when the user wants to exit this trade at a loss. Traders often use this to manage the amount of risk they are willing to take.
By adding Limit to a trade, it is to set a target price to exit the trade with profit.
In Overbit, there are two methods to add Stop/Limit to a trade.
You can add Stop/Limit when you open a trade.
1. Select the direction of the order, Buy (Long) or Sell (Short).
2. Select your desired leverage. Crypto instruments have the option to be leveraged up to 50 times while, non-crypto instruments are up to 500 times leverage.
3. Enter the quantity, which is the notional value of your order.
4. Click Add Stop and/or Add Limit to enter your desired price.
5. Click the Buy/Sell button to place the order and your order will be fulfilled immediately.
Now, you will see there is a Stop/Limit price set at your position table.
You can also add Stop/Limit by editing your existing position.
1. Click the Edit button of one of your open trades seen in the positions table.
2. Click Add Stop/Limit then enter your desired price and click Save.
Now, you have successfully edited your position to set a Stop/Limit.
Note: there is a maximum price for Stop and a minimum price for Limit, so please enter the price without exceeding the range.