【Predy v6.1】 Control your Positions with TP/SL Orders!

Predy Finance
4 min readMar 21, 2024

In the fast-paced trading, having precise control over your positions is crucial. That’s why we’re thrilled to announce the introduction of two powerful new features to our trading App: Take Profit Order and Stop Loss Order. These additions mark a significant milestone in our ongoing commitment to providing traders with the tools they need to navigate the markets effectively and confidently.

What are Take Profit Orders and Stop Loss Orders?

Before diving into the benefits of these new features, let’s first understand what they are:

Take Profit Orders: With a Take Profit Order, traders can specify the maximum price they are willing to buy or sell an asset. This allows them to exit a position at a predetermined price level, ensuring that they achieve their desired execution price.

Stop Loss Orders: Stop Loss Orders enable traders to mitigate potential losses by setting a price threshold at which their position will automatically be sold. This helps protect against adverse market movements and ensures that losses are kept within predefined limits.

How to Use Take Profit Orders and Stop Loss Orders

Using these new features is simple and straightforward. When holding positions on our platform, simply go to “Positions“ and click “TP/SL” on the left to add a Take Profit Order or Stop Loss Order, and specify your desired price level. Once set, our system will automatically execute your order when the market reaches the specified price, ensuring seamless and efficient trading.

Go to “Positions”..

You can find “TP/SL” on the left..

Click the Pencil, then this pop up will be coming up..
Take Profit Price must be higher than entry price (you can see above), and Stop Loss Price must be lower than Oracle Price (also above)..

Then, Profits and losses are then calculated immediately here.

When it’s confirmed, the 2 Prices will be shown on “Positions”.
You can change those 2 Prices anytime you want as the Market moves.

Empowering Traders with Control and Flexibility

The introduction of Take Profit Orders and Stop Loss Orders brings a new level of control and flexibility to our trading platform. Here’s how these features can benefit traders:

1. Precision in Execution
With Take Profit Orders, traders can execute their trades at the exact price they want, eliminating the need to constantly monitor the market for entry or exit opportunities.

2. Risk Management
Stop Loss Orders provide traders with an effective tool for managing risk by automatically closing out positions if the market moves against them, helping to prevent significant losses.

3. Emotion-Free Trading
By setting predetermined price levels for exit, traders can remove emotion from their decision-making process, leading to more disciplined and rational trading strategies.

4. 24/7 Protection
Whether you’re actively monitoring the market or away from your trading desk, Stop Loss Orders work around the clock to protect your positions, providing peace of mind at all times.

Conclusion

On Predy v6.1, we’re dedicated to empowering traders with the tools and features they need to succeed in the markets. The introduction of Take Profit Orders and Stop Loss Orders represents our ongoing commitment to innovation and excellence in trading technology. Whether you’re a seasoned trader or just starting out, these new features are designed to enhance your trading experience and help you achieve your financial goals with confidence.

So why wait? Start exploring the benefits of Take Profit Orders and Stop Loss Orders on our platform today and take your trading to the next level!

Link to Predy v6.1
https://v6app.predy.finance/arbitrum/perp/eth-usdc

--

--

Predy Finance

Most capital efficient Perpetual Options based with Uniswap. Live on Arbitrum.