How to Place Take Profit and Stop Loss in Gate.io

Unfortunately, Gate.io and other similar platforms do not have options to place TP and SL in Spot. Spot is the market where you buy and sell cryptocurrencies on a regular basis, unlike other markets such as futures, where you can use TP and SL in your positions.

In spot you can buy at limit or at market among other options different cryptocurrencies and have them in your portfolio, but as it is not a financial derivative, it does not have this option to place TP and SL in your purchased cryptocurrencies.

A solution regarding TP is to place limit orders at the price you would like to place your TP. For example, if you have bought BTC at $60,000, you can place a sell order for BTC at $65,000. This way, if the price reaches $65,000, the platform will sell your BTC and it will work in the same way as a TP.

This does not work in the case of SL, because if you place a sell order below the market price, it will simply execute and you will lose a %. In the case of using SL, you can use alerts to close your position in coinmarketcap if the price reaches a value, and receive a notification on your mobile, to go to the platform and sell your position.

How to Place TP and SL on Gate.io Futures

In Futures and other derivative products, as in copy trading if we can find the TP and SL options, being financial derivatives that require this option to mitigate risk and create a good investment strategy.

To find out if other Gate.io financial products have the option of TP and SL, it is as simple as going to the trading panel of that product, and see if there is a box with the initials TP and SL or Stop Order. If not, it is very likely that you will not be able to use this option.

In futures, in both Perpetual and Delivery, under available or available quantity, you will see a Stop Order box. If you select it, you will be able to indicate both the Take Profit and the Stop Loss in the operation you are going to perform. You can choose between the last price or the reference price in mark. The most used and recommended is to use the last price.

Also, keep in mind that, if you do not indicate the TP and SL when placing your order, you can go to positions and modify it if your operation is still active and has not been closed. Once the position is closed, the TP and SL are no longer of use.

To place the TP and SL, if you make a Long (Buy) trade, you must indicate a Take Profit above the price you have bought, and a Stop Loss with a price lower than the one you have bought. For example, if we buy BTC futures at $60,000, the Take Profit can be placed above, for example, at $63,000, and the Stop Loss below, for example, at $57,000.

In the case of going Short (Sell), you must indicate a Take Profit below the price you have bought, and a Stop Loss with a price above the one you have bought. For example, we sell (Short) BTC futures at $60,000, the Take Profit can be placed below, for example, at $57,000, and the Stop Loss above, for example, at $63,000.

So always keep in mind what kind of position you are going to open in order to place the TP and SL in the right way. I hope it has helped you to know how to place the TP and SL in the Gate.io platform. Remember, if you don’t have an account, you can create one below.