Here’s a step-by-step guide to setting up and modifying your TP/SL order on Bybit.

 

 

• Set Your TP/SL Order
• Modify Your TP/SL Order
• Cancel Your TP/SL Order

 

Read More
Introduction to Take Profit and Stop Loss (Perpetual and Futures Contracts)

 

 

Set Your TP/SL Order

Step 1: To set TP/SL at the same time as order placement, please enter your order quantity and tap on the TP/SL box in the order zone.

 

 

 

 

 

 

Step 2: To set up your TP/SL order parameters according to the following steps:

 

a) Add TP/SL upon order creation

 

• Select the direction of the position: Long or Short
• Enter your desired TP/SL level
• Select your preference: Entire Position or Current Order

Notes:

– Entire Position: The TP/SL applies to the entire position. Once the order is fully or partially filled, the TP/SL order will be placed for the entire position. When the TP/SL order for entire position is triggered, a market order will be placed and executed to close the entire position.

– Current Order: The TP/SL applies to the current order quantity set upon order creation. Once the order is fully or partially filled, the TP/SL order will be placed. When the TP (or SL) Trigger Price of individual TP/SL orders are reached, the respective TP/SL order quantities will be closed via either Market or Limit orders, and the corresponding SL (or TP) order will be canceled. For more information, please refer to the Scenario 4 stated here.

• Choose whether you want to take profit or stop loss by ROI%, Change % or P&L.

 

Notes:

– By setting TP/SL by ROI%, you enter your desired ROI (%) and the system will calculate the TP/SL trigger price based on your ROI (%) and reference price (Last, Index or Mark Price).  

– By setting TP/SL by Change %, you set the trigger price for TP/SL based on the reference price (Last, Index or Mark Price), or select a percentage increase or decrease of the entry price. The system will calculate an estimated P&L and ROI% for your reference.

– By setting TP/SL by P&L, you enter your expected position profit or loss (excluding fees) and the system will calculate a TP/SL trigger price based on your expected P&L and reference price (Last, Index or Mark Price).

 

• Under TP/SL for current order or partial position, you can set up a TP/SL limit order. A TP/SL limit order works similarly to conditional limit order with close on trigger. You will need to set up both TP/SL trigger price and the limit order price. Do note that there is no guaranteed execution for TP/SL limit orders. To learn more about conditional limit order, please refer to the help article here.

 

Then click on Confirm. 

 

 

b) Add TP/SL to an open position

• Tap on Set TP/SL on your positions

 

• Enter your desired TP/SL level
• Select your preferred TP/SL mode: Entire Position or Partial Position

– Entire Position: The TP/SL applies to the entire position. Once the order is fully or partially filled, the TP/SL order will be placed for the entire position. When the TP/SL order for entire position is triggered, a market order will be placed and executed to close the entire position.

– Partial Position: The TP/SL applies to the current order quantity set. You can set multiple TP/SL for the position, and specify the order quantity. When the TP (or SL) Trigger Price of individual TP/SL orders are reached, the respective TP/SL order quantities will be closed via either Market or Limit orders, and the corresponding SL (or TP) order will be canceled.

• Choose whether you want to Take Profit or Stop Loss by ROI(%), Change % or P&L.

Then click on Confirm.

 

With these parameters set, your TP/SL order will be automatically applied to your position once the order is partially/entirely filled, based on your selected preferences.

 

 

 

 

 

 

 

 

 

 

Modify Your TP/SL Order

Step 1: Tap on the TP/SL on your position as shown below.

 

 

 

 

 

Step 2: In the TP/SL window, you can adjust the TP/SL Qty (For Partial Position TP/SL) and other TP/SL parameters.

 

Then click on Confirm.

 

 

 

 

 

 

 

 

Cancel Your TP/SL Order

Step 1:  Tap on the TP/SL on your position as shown below.

 

 

 

 

 

Step 2: Cancel your TP/SL order based on your TP/SL preference:

• Entire Position: Tap on the remove icon next to your trigger settings, then click on Confirm. 
• Partial Position: Tap on Cancel on the respective TP/SL order you want to remove. You can also Tap on Cancel All in the upper right corner to cancel all TP/SL orders for partial position.