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How to set a Stop Loss / Take Profit Order on AAX

AAX has now enabled Stop Loss / Take Order functions to make it easier for traders to protect themselves against, and take full advantage of, price volatility.

Setting a Stop Loss / Take Profit order is basically instructing the Exchange to close your position if the price drops below a certain point, and alternatively to take the profit once the price rises to a point you set.

Of course, if you’re going short, then a stop loss is set at a higher price you bought in, and take profit is set below your entry price. If you go long, then just as on the regular spot market, you set your Stop Loss below your entry price, and the Take Profit above your entry price.

How to set a Stop Loss/ Take Profit on AAX

Step 1. Open a position.

If you’ve set a limit order, then wait until your order is filled.

In this example, let’s open 1 USDT settled contract for Bitcoin, going LONG, with 100x leverage.

Step 2. Below, where you see Open Positions, on the right, you see TP / SL.

You can also see our ENTRY PRICE is 9323.62

Step 3. Click on the TP/ SL column, and set your Stop Loss and Take Profit prices.

In this example, with an entry price of 9323.62, we set our stop loss at 9320, in case the price goes down, and if the price does go up as anticipated, we will take profit once the price reaches 9325.

In this case, as we are trading with a 100x leverage, we stayed close to the entry price.

You can see expected gains and losses on the right, and adjust accordinginly. Once you’ve confirmed, it shows below.

Are you ready to put your skills to the test? 

AAX is the world’s first digital asset exchange to be powered by LSEG Technology. Offering OTC, spot, and futures, it provides a highly secure, deeply liquid and ultra-low latency trading environment; and a meeting point between crypto and global finance. 

Open an account with AAX, or download the app, and experience the next generation crypto exchange.

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