Algorithms – TP/SL (ALO)

Limit Order TP/SL (ALO)

Renamed from “Advanced Limit Order”

The Limit Order TP/SL is a trading strategy that automatically manages your take profit and stop loss. There are three
required parameters for the ALO:

  1. Entry price (Long or Short)
  2. Take Profit price (TP)
  3. Stop Loss price (SL)

This trading strategy works as follows. The trader provides the entry, TP, and SL price levels. When the entry order is
filled, the trading strategy will monitor the market and automatically exit your position if the market hits the take
profit price or stop loss price.

Limit Order TP/SL is a great entry-level trading strategy for those looking to learn and understand more about algo
trading. Especially in crypto, where the market never closes, it is essential to have trading strategies that monitor
your positions to maintain an acceptable risk level.

One benefit of the Limit Order TP/SL is to lock in profits and prevent losses. Psychology plays a significant role in
trading. Being able to factor out emotions when taking profits or calculating a loss can be a huge benefit. We’ve all
been there, clinging to a position you should’ve exited long ago. With the Limit Order TP/SL, the automated trading
strategy does the work for you.

How to start a new Limit Order TP/SL in Volven:

  1. From the Ticker view:
    1. Select ALO
    2. Click “Buy” or “Sell”
  1. Inside the Strategy Panel, fill in your desired
    1. Size
    2. Price
    3. Take Profit (Optional)
    4. Stop Loss (Optional)

Give it a try! Limit Order with TP/SL is a great start to algorithmic trading.