Exit Conditions
Overview
Exit Conditions allow you to automatically create Take Profit and Stop Loss orders that will execute when your main order is filled. These are separate orders that are created alongside your primary order and will only activate once your main order has been completed.
Basic Mechanics
Parent Order Completion: Exit condition orders only become active after your main (parent) order has been fully filled
Child Order Creation: When you place an order with exit conditions, the system creates separate Take Profit and/or Stop Loss orders
Mutual Exclusion: If one exit condition order executes, the other is automatically cancelled
Batch Grouping: All related orders (main order + exit conditions) are grouped together for easy management
Order Types
Take Profit Orders
Purpose: Automatically sell your position when the price moves favorably
For Buy Orders: Triggers a sell order when price reaches or exceeds your target price
For Sell Orders: Triggers a buy order when price drops to or below your target price
Stop Loss Orders
Purpose: Automatically limit your losses when the price moves against you
For Buy Orders: Triggers a sell order when price drops to or below your stop price
For Sell Orders: Triggers a buy order when price rises to or exceeds your stop price
Exit Strategy Types
You can choose from three different execution strategies for your exit conditions:
1. Maker
Best for: When you want to limit your exposure to taker fees
Execution: Places limit orders at or near the current market price
Duration: Uses the same duration as your parent order
Risk: May not fill if price moves away quickly
2. VWAP (Volume Weighted Average Price)
Best for: Large orders where you want to minimize market impact
Execution: Executes over time to achieve the volume-weighted average price
Duration: Uses the same duration as your parent order
Risk: Moderate execution risk, good balance of price and timing
3. Taker
Best for: When you need fast or immediate execution
Execution: Uses market orders for instant fills
Risk: Higher execution cost but guaranteed fills
Price Validation Rules
Take Profit Prices
For Buy Orders: Must be greater than or equal to current market price
For Sell Orders: Must be between 0 and current market price
Stop Loss Prices
For Buy Orders: Must be between 0 and current market price
For Sell Orders: Must be greater than or equal to current market price
Important Considerations
Order Dependencies
Exit condition orders will not execute until your main order is fully filled
If your main order is cancelled, all exit condition orders are automatically cancelled
Only one exit condition can execute - if Take Profit triggers, Stop Loss is cancelled and vice versa
Risk Management
No Guarantees: Market conditions can change rapidly, and exit orders may not execute at your exact target price
Slippage: In volatile markets, actual execution prices may differ from your target prices
Gap Risk: In extreme market conditions, prices may gap beyond your stop loss levels
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