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.

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