Setting Stop Loss (SL) and Take Profit (TP) orders on Mudrex helps you manage risk and lock in profits automatically. Follow this step-by-step guide to set up your orders.
Step 1: Open Spot Holdings
Launch the Mudrex app.
On the home screen, tap “Spot Holdings” from the quick actions.
You can also access it through the Overview tab under Portfolio.
Step 2: Select the Cryptocurrency
Under Spot Holdings, you’ll see all your current holdings.
For this example, select Bitcoin.
You can follow the same steps for any supported cryptocurrency.
Step 3: Open More Options
On the asset details screen, tap “More Options.”
From the menu, select “Set Up Stop Loss / Take Profit.”
Step 4: Set Your Stop Loss or Take Profit Order
Choose whether you want to set a:
- Stop Loss (SL) to limit potential losses
- Take Profit (TP) to lock in gains
For example, to set a Stop Loss:
- Enter the price of Bitcoin at which you want to sell
- Define the amount of Bitcoin you wish to sell at that price
You will also be able to view your estimated profit or loss (PnL) based on the entered price.
Step 5: Place the Order
Once you’ve entered all the details, tap “Place Order.”
Your Stop Loss or Take Profit order will be set and will execute automatically when the specified price is reached.
Step 6: Manage Your Orders
After placing your order, you can:
- Monitor active SL/TP orders
- Modify or cancel them if needed
- Add multiple SL/TP orders for better risk management
Need Help?
If you have any questions or need assistance, contact the Mudrex support team at help@mudrex.com.
