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Exit Strategy

3 months ago

Latest Post MCS | Introducing TMTG Monthly Futures Contracts public

   

#Be_a_Trader!

   
Greetings from MCS, the derivatives trading platform where traders ALWAYS come first.

       

     

       

When trading, there are cases where the initially established trading principles are shaken by various reasons. "One's greed blocks one's eyes"; this adage is the best description for the missed timing to take profit as planned. It would be, of course, the best if we could control our minds 100%, but it is also a good idea to get the technical help from the exchange to avoid such misfortune.

     

MCS has prepared the following 3 order types to aid trader's successful exit:

     

     

   

Stop Loss Order

     

Stop Loss Orders are automatic trade orders given by the trader to trigger a close when a certain price(loss) level is reached to minimize losses. MCS provides a simple close position strategy at the point of position entry to close all open positions with a market order. If the trader desires to close the position partially or with a limit order, the conditional order can be used to place a Stop Loss Limit Order. The Stop Loss Order price is set against the last traded price.

   

   

There are 3 ways you can set Stop Loss Orders on MCS.

   

1. When submitting a market or limit order (Only applies to traders without a position)

   

2. On the Position List

3. As Conditional Market and Limit Order

     

     

Take Profit Order

   

Take Profit Order is a function to close the position when the market price reaches a particular trigger price.

   

   

There are 3 ways you can set Take Profit Orders on MCS.

   

1. When submitting a market or limit order (Only applies to traders without a position)

     

     

2. On the Position List

   

3. As Conditional Market and Limit Order

   

   

Trailing Stop

     

     

A Trailing Stop Loss Order automatically adjusts the Stop Loss Price by referring to the preset price interval (minimum 0.5 USDT) when the market price moves in a favorable direction for the position held by the trader. In other words, as the price moves to a more favorable position, the Stop Loss price line moves together to preserve the profit. If the price fluctuates, it can be useful for realizing traders' profits and minimizing losses.

   

<Trailing Stop Order Example>

 

 

David currently holds a BTC/USDT long position. The current market price is 10,000 USDT with a trailing distance set to 500 USDT.

   

If the market price has not reached 10,000 USDT before the price drops to 9,500 USDT, then the trailing stop will activate the Stop Loss order at 9,500 USDT as usual.

   

When the market price rises to 11,000 USDT, the trailing stop raises the stop price to 10,500 USDT (keeping the 500 USDT price gap from the current market price) and places a Trailing Stop Loss order when the market price drops to 10,500 USDT.

   

The Stop Loss price is automatically raised according to the market price, and the Stop Loss order is activated only after returning to the 500 USDT price interval starting from the highest price.

     

     

In this post, we looked at the three order types. We hope you will utilize various orders to achieve your trading goals, and MCS will be with you on your journey to a better tomorrow.

   

   

Again, traders always come first in MCS.

   

Thank you.

MyCoinStory

Published 3 months ago