BingX, a leading cryptocurrency copy trading platform, is pleased to announce the addition of the TP/SL feature to its Grid Trading platform. This latest enhancement aims to empower users with advanced tools to optimize their grid trading strategies and capitalize on arbitrage opportunities. The TP/SL feature is now available for Futures Grid, Spot Grid, and Spot Infinity Grid on BingX.
TP/SL (Take Profit/Stop Loss) allows users the ability to preset trigger prices or trigger ratios within the Grid Trading setting. Once the market price reaches the specified trigger price or the profit/loss amount reaches the trigger ratio, the system will automatically close the grid strategy. For Spot Grid and Spot Infinity Grid strategies, the associated cryptocurrency will be sold, while for Futures Grid strategy, the position will be closed, and all orders will be canceled. This feature ensures users can efficiently secure profits or limit losses with their grid strategies.
The TP/SL feature in Grid Trading provides two distinct settings:
- TP/SL by Price: By setting a specific trigger price, users can instruct the system to close the strategy and sell the cryptocurrency or close the position and cancel all orders once the last price of the pair reaches the specified value. For instance, if a user opens a BTC Futures Grid with an average open price of 9,000 USDT and wishes to stop losses at 7,000 USDT, they can set the parameters as follows: SL trigger price: 7,000 USDT
- TP/SL by Ratio: This setting allows users to define a profit/loss ratio as the trigger. Once the profit/loss amount reaches the specified percentage of the investment amount, the grid strategy will be closed automatically. For example, if a user opens a BTC Spot Grid strategy with an investment amount of 10,000 USDT and wants to secure a profit of 2,000 USDT (equivalent to a 20% profit ratio), they can set the parameters as follows: TP trigger ratio: 20%
To apply the TP/SL feature in Grid Trading, users can follow these steps:
- Set up TP/SL during grid strategy creation: When creating a grid strategy, users can access the “TP/SL” option at the bottom of the page. By selecting either “By Price” or “By Ratio,” users can define their TP/SL preferences.
2. Secondary confirmation through a pop-up window: After clicking “Create a Grid,” a pop-up window will appear, displaying the TP/SL details set by the user. If no TP/SL settings were configured, it will be indicated as “–” in the window.
3. Modify TP/SL for running grid strategies: Users can modify the TP/SL settings of a running grid strategy by selecting the “…” option and choosing “Set up/modify TP/SL.”
BingX is committed to improving its trading experience and providing users with effective tools to optimize their investment strategies. The addition of the TP/SL feature to Grid Trading is a significant step towards empowering users with greater control over their trading portfolios.
About BingX
Founded in 2018, BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Moreover, BingX Guides is an innovative platform designed to empower users by providing comprehensive insights into trending topics and keeping them up-to-date with the latest happenings, including Lingose ID Gamefi guide.
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