Stop Loss and Take Profit: Protecting a Position on Everstrike

A stop loss closes a position when the price moves against you to a level you choose. A take profit closes it when the price reaches your target. On Everstrike both are trigger orders with the reduce only flag, so they can only shrink or close the position, never open a new one or flip you to the other side.

Add them when you open a position

Add them to an open position

After an order fills, the status window offers Add TP/SL, or shows “No exit levels set on this position.” You can also open the position from Positions and set or change its levels there, then choose Apply Changes. When you set a level on an open position, the panel shows what it would mean: the profit or loss at the chosen trigger and how it compares with your liquidation price.

Which price triggers them

Like any trigger order, a stop loss or take profit fires when the price you choose under Trigger on reaches its level: the Mark Price, the Index Price or the Last Price. See Order Types.

Good practice

• Keep the stop well before the liquidation price. A stop triggers at its level, but in a fast market the fill can be worse. If the liquidation price is close behind the stop, a gap can carry the position into liquidation first.
• Set the stop from the trade idea, then size the position, so hitting the stop costs an amount you’re comfortable with.
• Funding moves the liquidation price. On the paying side, check the gap again on positions you hold for days.

Seeing and cancelling them

Stop losses and take profits appear on the Triggers page, marked as Stop Loss or Take Profit, until they fire or are cancelled.