Take profit and stop loss orders

🚀 TP/SL Orders on RocketFi

Take-Profit (TP) and Stop-Loss (SL) orders automatically close your position when a target profit or loss is reached. These are triggered using the mark price, ensuring consistent execution even during volatile market conditions.

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📊 Chart Interaction

• TP/SL orders can be dragged and adjusted directly on the TradingView chart for intuitive control.

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⚖️ Market vs. Limit TP/SL Orders

RocketFi allows users to choose between Market and Limit TP/SL orders:

• Market TP/SL Orders

  • Execute immediately upon trigger.

  • Default slippage tolerance is 10%.

• Limit TP/SL Orders

  • Users set a specific limit price.

  • This controls slippage tolerance.

  • More aggressive limit prices increase the chance of execution but may result in higher slippage.

Example:

• A Stop-Loss order to close a long position with:

  • Trigger Price: $100

  • Limit Price: $100 → If the price drops from $110 to $90 instantly, the order may rest at $100 and not fill.

• If the Limit Price is set to $80, the order is more likely to fill between $90 and $80.

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📌 TP/SL Orders Linked to Your Position

• TP/SL orders created from the position form default to the full size of your position.

• These orders aim to fully close the position when triggered.

• If a specific size is set, the order becomes fixed-sized and won’t adjust with position changes.

✅ Beginner-Friendly: Position-based TP/SL orders are ideal for new users due to their simple setup and cancellation process.