Take Profit & Stop Loss

When opening a new market or limit order on Omni, you are presented with the option to set take profit and stop loss parameters.

Adding a take profit order to a position defines the price at which a position will automatically close to realize profit. Stop loss, in a similar vein, is an order that defines the price at which a position will automatically be closed to realize (and limit) losses.

Take profit and stop loss orders may face slippage during periods of high volatility, as they execute as rapidly as possible once the trigger price is crossed.

Auto-Resize

When the auto-resize setting is enabled, TP/SL orders will be automatically resized to stay open through partial sizing reductions of the associated position (i.e. from partial closes or liquidations). If auto-resize is not enabled, TP/SL orders can be cancelled by any reduction in size of the associated position.

We highly recommend keeping the auto-resize setting enabled unless you are an advanced user comfortable with partial TP/SL orders.

Trigger Price

When opening a new take profit or stop loss order, you are prompted to select whether your trigger price should be based on the mark price (default) or the quoted price.

If you select "mark," your order will be executed at the best possible quote whenever the mark price crosses the trigger. This is optimal for users who prioritize exiting positions when prices reach a certain level over the order being filled at the exact trigger price.

If you select "quote," your order will be executed only when the quoted price is at or crosses your trigger, regardless of the mark price. This is optimal for users who prioritize their order to be filled as close as possible to the trigger price over exiting at a certain price level.