Detailed Explanation
Why It Matters:
Emotional discipline tool — removes “hope” trading. Essential for risk management on leveraged CEX products.
How It Works:
Trigger price activates a market or limit order. Many platforms support TP/SL directly on position entry.
Common Mistakes:
No SL (or mental stops); placing SL too tight (whipsawed); moving SL further during drawdown (“revenge trading”).
FAQs
Market vs. Limit SL?
Market = guaranteed exit (possible slippage); Limit = exact price (may not trigger).
Available on spot?
Yes, many CEX now support conditional orders on spot too.
