Trigger orders (TP/SL)

Trigger orders let you predefine exits for an open position. When the mark price reaches your trigger level, TrueCurrent attempts to close the position through the RFQ quote path. There are two types: Take Profit (TP) and Stop Loss (SL). They can be set when you open a position or added to an existing position.

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Take profit (TP)

A take profit order closes your position when the price reaches a level that is favorable to you.

• Long TP: Triggers when the mark price rises to or above your target
• Short TP: Triggers when the mark price falls to or below your target

When triggered, TrueCurrent automatically closes your position at the best available quote within your configured price tolerance. Your profit is locked in without requiring manual action. Example: You open a long at $100 and set a TP order at $120. When the mark price reaches $120, your position closes and you realize the ~20% gain, subject to the quoted exit satisfying your worst_price.

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Stop loss (SL)

A stop loss order closes your position when the price moves against you to a level you’ve pre-defined.

• Long SL: Triggers when the mark price falls to or below your stop price
• Short SL: Triggers when the mark price rises to or above your stop price

Example: You open a long at $100 and set a SL at $90. If the mark price drops to $90, TrueCurrent attempts to close the position as long as the quoted exit can satisfy your limit.

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How trigger prices work

Trigger orders on TrueCurrent are evaluated against the mark price. The signed intent uses trigger variants such as mark_price_gte and mark_price_lte, and the contract re-evaluates that mark-price condition at execution time. This means:

• A TP or SL fires from the same mark-price basis used by the signed-intent contract path
• The trigger is not latched: if mark price moves back before the executor lands the transaction, the settlement can revert as trigger_not_satisfied
• Once triggered, the close still executes through the RFQ quote path, and your worst_price is enforced on the quoted exit

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Setting TP/SL

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At order entry

When placing a new trade, you can set both a TP and SL directly in the order panel before confirming. These are attached to the position from the moment it opens.

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On an existing position

You can add or modify TP/SL on any open position at any time:

1. Go to your Positions panel
2. Click the TP/SL icon on the position you want to manage
3. Enter or update your target prices
4. Confirm

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Price tolerance on trigger orders

When a trigger order fires, TrueCurrent executes the close with a default price tolerance. Trigger execution is not guaranteed — the close still requires a valid RFQ quote at execution time. If no valid quote is available, or if the price has moved beyond your tolerance, the attempt fails rather than filling at a worse price. TrueCurrent retries failed attempts automatically while the trigger condition is still met. If the order still cannot fill before it runs out of retries or expires, it is marked as failed and you will need to close the position manually or set a new TP/SL. You can set a custom price tolerance for your trigger orders the same way you would for a regular trade.

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Managing risk with TP/SL

Always set a stop loss. Leverage amplifies losses just as quickly as it amplifies gains. A stop loss is your safety net against a position running away from you, especially overnight or when you’re not watching. Use TP to lock in gains automatically. Markets can reverse quickly. Setting a take profit removes the emotional burden of deciding when to exit a winning trade. Consider the spread between entry and SL. Setting a stop loss very close to your entry price (e.g., 0.1% away at high leverage) risks being stopped out by normal market noise. Give your position room to breathe while still protecting against a meaningful adverse move. See Liquidation to understand the difference between a stop loss (which you control), and a liquidation (which happens automatically when margin runs out).

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API and SDK users

If you are using the API or SDK to place trigger orders, check out advanced operational use cases for TP/SL — including off-chain execution details, failure and retry behavior, worst_price gap scenarios, and differences between frontend and programmatic behavior.