How to set stop loss on BigONE contract

Setting a stop loss order on BigONE Contract enables traders to control their risk by automating the execution of orders when the market price falls below a predefined level.

Nov 25, 2024 at 10:30 am

How to Set Stop Loss on BigONE Contract

Introduction:

Stop loss orders are a crucial risk management tool in contract trading, allowing traders to limit potential losses in volatile market conditions. By setting a stop loss, traders can automate the execution of orders when the market price falls below a predefined level, ensuring they exit positions at a predetermined loss threshold.

Steps to Set Stop Loss on BigONE Contract:

1. Open the BigONE Contract Trading Interface:

• Access the BigONE website and log in to your account.
• Navigate to the "Contracts" tab from the main menu.

2. Select the Desired Trading Pair:

• Choose the contract trading pair you wish to trade, such as BTC/USDT or ETH/USDT.

3. Enter the Stop Loss Price:

• Within the "Order" section, locate the "Stop Price" field.
• Enter the price at which you want to trigger the stop loss order.

4. Adjust the Indicator Parameters (Optional):

• For "Stop", select "Greater Than Or Equal To." For "Condition", select "Last Price."
• Leave the default "Tolerance" at 0.0001.

5. Set the Position Quantity (Optional):

• If you wish to close only a portion of your position, adjust the "Quantity" field accordingly. Otherwise, leave it blank.

6. Click "Set" to Confirm:

• After verifying the order details, click the "Set" button to activate the stop loss order.

7. Monitor the Order Status:

• Your stop loss order will appear in the "Open Orders" tab.
• Keep track of the market price to ensure it does not reach your predetermined loss threshold.

8. Cancel or Adjust the Order:

• If market conditions change or you wish to modify the stop loss price, you can cancel or adjust the order anytime before it is executed.