Take profit and stop loss are two essential tools to help investors easily control their transactions to optimize profits and, at the same time, reduce the psychological pressure on market fluctuations.
In order to help investors easily use these two powerful tools, ONUS officially launches the Stop Loss/Take Profit feature.
**Users please update the application to version 2.2.4 (147) (for iOS) or version 2.2.3 (Android) to experience the feature.
What is Stop Loss/Take Profit?
The Take Profit/Stop Loss feature allows users to maximize profit or reduce loss by automatically exiting a trade as soon as the asset’s price reaches a user-set price.
Example: You invest in Bitcoin (BTC) at the price of 42,000 USDT. Instead of constantly monitoring the market to take profit/stop loss, you can set it up automatically:
- Set Take Profit BTC at the desired price, for example, 43,000 USDT. The system will automatically match sell orders when the BTC price hits or surpasses 43,000 USDT.
- Set Stop Loss BTC to avoid losing too deep, for example, 41,000 USDT. The system will automatically match sell orders when the BTC price drops to or exceeds the stop loss price.
Thus, you can set up a complete trading plan yourself, fully backing up Take Profit and Stop Loss options to help ensure investment efficiency despite unexpected market fluctuations.
Currently, the Take Profit/Stop Loss feature is applied to the most popular assets and will continue to be updated in the near future.
Why should you use the Take Profit/Stop Loss feature?
- Avoid the risk of large capital loss when the asset falls sharply or miss the opportunity to profit when the asset increases in price.
- Reduce pressure when participating in transactions in the market, limiting the influence of FOMO and FUD.
- Save time and increase transaction accuracy.
How to use
Step 1: After owning an asset >> Choose that asset at the Invest feature.
Step 2: At the Average Cost >> Choose Take Profit or Stop Loss
Step 3: Fill information:
- Enter the rate you want Take Profit/Stop Loss in USDT or VNDC. The desired Take Profit/Stop Loss ratio can be quickly selected.
- Enter the number of tokens you want to Take Profit/Stop Loss with this rate.
- Enter the slippage you are willing to accept.
Step 4: Choose “Save” to complete.
Thus, you have successfully set up Take Profit/Stop Loss, and the system will help you match orders according to market fluctuations.
Also, if you want to change the Take Profit/Stop Loss level, you can reset it at any time.