How to Use Take-Profit (TP) and Stop-Loss (SL) in Spot Trading – Monochrome

What Are Take-Profit (TP) and Stop-Loss (SL) Orders?

Take-profit and stop-loss orders allow users to set a trigger price, limit price, and order amount in advance. When the market price reaches the trigger price, the system automatically places a limit order at the preset limit price to help lock in profits or control losses.

Why Use Take-Profit/Stop-Loss Orders?

Take-Profit/Stop-Loss Orders allow you to:

Avoid constant market monitoring by automating risk control and profit-taking
Set buy/sell points in advance to handle sharp market fluctuations
Lock in existing profits or reduce potential losses from further price drops

Example Scenario

Assume you hold BTC currently priced at $100,000 (A):

If you want to automatically sell to take profit when the price rises to $110,000 (B) → set a Take-Profit order
If you're concerned that the price may continue to fall after dropping below $90,000 (C) → set a Stop-Loss order

Situation	Example Settings	Goal
Take-Profit Order	Trigger: $109,500; Limit Price: $110,000	Sell after a 10% rise to lock in gains
Stop-Loss Order	Trigger: $90,500; Limit Price: $90,000	Sell after a 10% drop to limit losses

Once the market price reaches the trigger price, the system will automatically place a limit order at the limit price. Note: a limit order is not guaranteed to be filled immediately — it will only execute when the market price matches the preset limit price.

How to Use TP/SL on the Monochrome Website

Log in to your Monochrome account, click “Trade” at the top and select “Spot”, and choose the “TP/SL” (Take-Profit/Stop-Loss) order type. Set the order direction (buy/sell), trigger price, price and amount, then confirm your settings to place the TP/SL limit order.

You can view active TP/SL orders under “Open Orders” → “Stop Limit”. Click the delete icon to cancel any unfilled orders. For executed or cancelled orders, go to “Order History” → “Stop Limit” to view the details.

How to Use TP/SL on the Monochrome App

Log in to your Monochrome App account, tap “Trade” at the bottom and go to the “Spot” section. Choose the “TP/SL” order type. Set the order direction (buy/sell), trigger price, price and amount, then confirm your settings to place the TP/SL limit order.

You can check your active TP/SL orders under “Open Orders” → “TP/SL”. Tap “Cancel” to cancel unfilled orders. To view executed or cancelled TP/SL orders, tap the [=] icon to access all orders and go to “Order History” → “TP/SL”for details.