Setting both take-profit and stop-loss when opening a futures position is fundamental risk management. Binance supports setting TP (Take Profit) and SL (Stop Loss) together when opening a position -- no need for separate orders.
Register on Binance to experience futures trading. We recommend downloading the Binance App to monitor positions anytime.
Setting TP/SL When Opening a Position
On the futures order form, after entering your entry price and quantity, you'll see a "TP/SL" option. Expand it to enter your take-profit and stop-loss prices separately.
For example, going long BTC with an entry price of 50,000 USDT: set take-profit at 52,000 and stop-loss at 49,000. When the price reaches 52,000, it auto-closes for profit; at 49,000, it auto-closes to limit loss.
Submit everything together -- once the position opens, both TP and SL orders are active simultaneously.
Adding TP/SL After Opening
If you forgot to set TP/SL when opening, you can add them from the positions list. Find your position, tap the "TP/SL" button next to it, enter your prices, and confirm.
Do TP and SL Cancel Each Other
Yes. When either take-profit or stop-loss is triggered and executed, the other is automatically cancelled. This is the OCO (One Cancels the Other) logic.
You don't need to worry about the stop-loss remaining active after take-profit fills.
Can You Set Partial Take-Profit
Yes. You don't have to set the entire position at a single take-profit price. You can set multiple take-profit levels: for example, 50% of the position takes profit at 52,000, and the remaining 50% at 54,000.
This lets you lock in some profit while keeping upside exposure.
Market vs Limit for TP/SL
Binance supports both approaches:
Market TP/SL: When triggered, it executes at market price immediately. Advantage is guaranteed execution; downside is potential slippage during volatile conditions.
Limit TP/SL: When triggered, it places a limit order at your specified price. Advantage is price control; downside is it might not fill in extreme conditions.
For stop-losses, we recommend market orders to ensure execution. For take-profits, either works.
Recommendations
Decide your TP and SL levels before every trade. Don't decide after opening the position, because emotions while holding can lead to irrational decisions.
Don't set stop-losses too tight -- normal volatility will trigger them. But don't set them too far either, or they lose their protective purpose. Generally, aim for stop-loss amounts within 2-5% of your margin.