Dear BigONE users:
In order to further improve the trading experience of BigONE contract users and to minimize the occurrence of Take-Profit(TP) and Stop-Loss(SL) being rejected, BigONE has optimized the Take-Profit and Stop-Loss function of the contract trading accordingly.
Currently, there are three situations lead to Take-Profit and Stop-Loss rejection: The oversized position, the insufficient depth, and the insufficient balance.
The solution measures are as follows:
1. To address the problem of the oversized positions and the insufficient depth, BigONE will implement split positions for Take-Profit and Stop-Loss.
The rule are as follows:
1. When the position is n and the market price TP/SL order is rejected, n/2 positions will be tried for TP/SL; if n/2 positions are still rejected, n/4 positions will be tried again for TP/SL; and so on until the TP/SL are closed.
2. If the position is not closed after the number of attempts, text, email, or push will be sent to notify the user that the TP/SL is rejected. The maximum number of attempts is 16.
2. Solution for insufficient balance
When a TP/SL order is rejected because of insufficient balance, will cancel the order furthest from the current market price in the user's limit order as a priority. Then when the available balance is sufficient, will try again to close the position with TP/SL.
Solution for excessive loss:
When a TP/SL order is rejected because of excessive loss, will cancel the order closest from the current market price in the user's limit order as a priority. Then when the total average price of buy orders is less than the total average price of sell orders, will try again to close the position with TP/SL.
This measure can minimize the probability of Take-Profit and Stop-Loss being rejected, but it does not guarantee 100% elimination of such cases. Please use the Take-Profit and Stop-Loss function flexibly and keep a high level of attention to the trading assets.
BigONE, more than just asset security
March 9, 2021