What is TP & SL?
Take profit and Stop loss levels allow the MultiHODL user to choose and manage their investment risk according to their needs by setting preferred closing prices for your deal.
How does Stop Loss work?
If the coin price drops below the Stop Loss level (or rises above for the DOWN direction), YouHodler automatically closes the position. There's a minimum required Stop Loss price for each Multiplier level both for the UP and DOWN direction. You can set any Stop Loss price (or price change in percent) above this level. The Stop Loss ll is a required field, and it is always set to the maximum value by default.
How does Take Profit work?
Once the Take Profit price is reached, YouHodler closes your position. The default Take Profit level is set at the max. possible value based on the current market conditions. But you can adjust it according to your preferences and edit it as well after MultiHODL opening in the deal detailed view.
How to set and edit Stop Loss and Take Profit levels?
To adjust Take Profit and Stop loss levels, go to MultiHODL/Portfolio page, click your MultiHODL detailed view, and press the Adjust TP & SL button. You can also set SL and TP while opening MultiHODL.
There, you will see a popup where you can enable/disable your Take Profit level and set both SL and TP levels. There are three options to set comfortable close levels:
Set a closing price;
Set a potential price increase in %;
Check with max. profit and max. loss values – in these fields you may see what amount of profit/loss you get in the case of TP or SL.
Press the Adjust button to apply your new levels to your MultiHODL. You will see your new Take Profit right on the chart in the MultiHODL view. Both Stop Loss and Take Profit levels can be set/changed anytime without any additional fees.
The max level of Stop Loss and Take Profit may be limited. On the Take Profit/Stop Loss adjust page you may see all the requirements and max/min limits.
On the huge market movements, there could be some slippage and the actual close price may be slightly different from the level you set.