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How do I place a Stop Loss Order on Proton DEX?

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Stop Loss Order: Stop Loss Order is an order that gives an opportunity to the user/trader to choose the maximum amount of loss on the trade. Both Limit and Stop Loss prices have to be selected on the trade. Also, this order is not guaranteed to be executed.

Stoploss orders are used to liquidate assets on reaching a certain price level. To trigger/move/promote this order, the trigger price needs to be reached.

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Before starting:

Getting Started:

  1. Go to the Proton DEX website and connect your WebAuth Wallet
  2. Choose your trading pairs
    • For example, let's say you want to use the XPR/XUSDC pairs. Think of XPR as "asset 'A'" and XUSDC as "asset 'B'"
  3. Scroll down and click the "STOP LOSS" tab to start your Stop Loss Order 
    1. BUY: In order to make a BUY Stop Loss order, you will stay on the left window
      • This means you will be buying more of asset "A" by selling asset "B" if the TRIGGER PRICE hits a specific amount below the PRICE
        1. For the PRICE section, enter the value amount of asset "B" you would like to initiate this order at
        2. For the TRIGGER PRICE section, enter an amount lower than the PRICE amount 
        3. For the AMOUNT section, enter the value of asset "A" that you would like to purchase once the value of asset "B" starts going below the PRICE value
          • The "Total" calculate how much of asset "B" will be sold for asset "A"
        4. Click "Buy ____" once you're ready and authorize the transaction from your WebAuth WalletBuy_Stop_Loss.gif
    2. SELL: In order to make a SELL Stop Loss order, you will stay on the right window
      • This means you will be selling asset "A" into asset "B" if the TRIGGER PRICE hits a specific amount below the PRICE
        1. For the PRICE section, enter the price value of asset "B" you would like to initiate this order at
        2. For the TRIGGER PRICE section, enter a value lower than the PRICE amount 
        3. For the AMOUNT section, enter the value of asset "A" that you would like to sell off once the value of asset "B" starts going below the PRICE value
          1. The "Total" calculate how much of asset "A" will be sold for asset "B"
        4. Click "Sell ____" once you're ready and authorize the transaction from your WebAuth WalletSell_Stop_Loss.gif

That's it, you've successfully initiated a Stop Loss Order! You can check your order by scrolling down and clicking the "Open Orders" tab. You can cancel the transaction anytime by going under the "Actions" section.

 

Remember: the Order will only complete once the PRICE reaches the TRIGGER PRICE amount.

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Additional Resources

Click here to learn how to also place the following orders on Proton DEX:

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If you have any questions about this guide or just want to say “Hi”, you can always reach us with the Help button on the bottom right side of your screen. Also be sure to follow our Client Services+ Help Center on Twitter (@MetalHelpsMe) to stay up to date and learn how to get the most out of your Proton experience!

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