Stop Loss on Max/Min Profit/Loss

The functions "Stop-loss on maximum profit" and "Stop-loss on maximum loss", "Stop-loss on minimum profit" in the futures grid-bot "Hurricane" automatically close the position using a market order (with the option to reduce the position) and stop the bot if the specified profit/loss is reached.

Please note that uPNL is not the total PNL from trading for the entire time after the launch of the bot, but only the unrealized loss from the current open position.

Max Loss: Specify in the "Max Loss" field the maximum allowable position loss for you, above which the bot will be stopped and the position closed by market, but be prepared for losses if this option is enabled.

When to use it best: When running high-risk bots with a risk of liquidation, unless you are using a hedge short.

Max. profit: the maximum unrealized profit of an open position, upon reaching which, stop the bot, close the position and cancel orders.

When is it best to use it: when a price pump happens, to close the bot if the profit of the current open position has become too large.

Min. profit (in our opinion, this is the best stop-loss for bots, which should always be used!): It often happens that a long position is in profit and above the opening price, and the price has almost reached the upper stop-loss, but then the market reverses and the position is already at a loss significantly exceeding the previous profit. In this case, it makes sense to use a stop-loss at breakeven. The problem with the "stop-loss in breakeven" is that it is placed on the exchange at a certain price, and it is not known in advance what PNL the position will have when it is triggered: if there is a trade above it, then the average price will increase and when the stop is triggered, there will be a loss. The new virtual stop loss "By minimum profit" will be activated at a certain position PNL and will be triggered using a market-order if the position PNL becomes less than the specified one. For stop-losses by min profit and max profit, it is recommended to enable the "no worse than the opening price" option.

Now the stop-loss "By minimum profit" can take into account the sum of the unrealized PNL of the position and the realized PNL from trading by the bot, as well as the trading time.

Example: You want the squeeze bot to automatically close a position if trading has been going on for more than a day and the amount of unrealized and realized PNL exceeds $1 (in this case, the current PNL of the position can be negative).

We remind you that this stop loss has an activation PNL, you can specify it a little more than the desired minimum profit, for example, $2, then the stop loss will be activated when the PNL amount is $2, but it will work (and the position will be closed using a market-order) when PNL will drop to $1 and trading will continue until then. This is done to increase profits if the price goes in your direction and the profit of the bot is constantly increasing.

We also recommend that you pay attention to the "Stop-loss on the realized PNL of the bot" function, perhaps it will suit you more. Please note that these stop losses are not set on the exchange in advance, but are triggered using a market order when all conditions are met, so slippage is possible and the profit is likely to be less than specified in the stop-loss settings.