Skip to main content
All categories

What Is a TP/SL Order (Take Profit / Stop Loss) and Iceberg Order on Heshket?

Updated

Introduction

Heshket provides advanced order types that help traders manage risk and execute trades more efficiently.
This article explains what TP/SL (Take Profit / Stop Loss) orders and Iceberg orders are, how they work, and when to use them while trading on Heshket.

 

What Is a TP/SL Order?

A TP/SL order (Take Profit / Stop Loss) allows traders to automatically close a position when the market price reaches a predefined level. This helps lock in profits or limit potential losses without constant market monitoring.

Take Profit (TP)

A Take Profit order automatically closes a trade once the price reaches a favorable level defined by the user. It allows traders to secure profits when the market moves in the expected direction.

Stop Loss (SL)

A Stop Loss order automatically closes a trade when the price moves against the position and reaches a predefined loss threshold. This helps protect capital by limiting downside risk.

How TP/SL Orders Work

On Heshket, TP and SL levels can be set in advance as part of a single TP/SL order:

  • If the price reaches the Take Profit level, the trade closes and profit is realized.
  • If the price reaches the Stop Loss level, the trade closes to limit losses.
  • Both levels can be used simultaneously to clearly define risk and reward before entering a trade.

     

Example:
A user buys BTC at 30,000 USDT.

  • Take Profit is set at 35,000 USDT.
  • Stop Loss is set at 28,000 USDT.
     

If either price level is reached, the system automatically executes the order.

When to Use TP/SL Orders

TP/SL orders are useful when you want to:

  • Automate trade exits
  • Reduce emotional decision-making 
  • Clearly define profit targets and risk limits
  • Manage trades without constant monitoring

     

What Is an Iceberg Order?

An Iceberg order is an order type that splits a large trade into multiple smaller limit orders. Only a portion of the total order size is visible in the order book at any given time.

This approach helps reduce market impact and prevents revealing the full size of a large order to other market participants.

How Iceberg Orders Work

  1. A trader places a large buy or sell order.
  2. The total amount is divided into smaller visible portions.
  3. Only one portion is displayed in the order book.
  4. When the visible portion is filled, a new portion is automatically placed.
  5. This process continues until the entire order is executed or cancelled.
     

By executing trades gradually, Iceberg orders help maintain price stability and improve execution quality for large-volume trades.

Iceberg Order Example

A trader wants to sell assets worth 10,000 USDT without significantly affecting market price:

  • The total order size is set to 10,000 USDT.
  • The visible portion is set to 2,000 USDT.
  • Each visible portion is placed sequentially until the full amount is executed.

 

Comparison of Order Types

Order TypePurposeCommon Use Case
TP/SL OrderRisk managementAutomatically locking profits and limiting losses
Iceberg OrderTrade executionExecuting large orders with minimal market impact

 

How to Place These Orders on Heshket

Placing a TP/SL Order

  1. Navigate to Assets → Spot.
  2. Select the desired trading pair.
  3. Choose TP/SL as the order type.
  4. Enter the Take Profit and/or Stop Loss prices.
  5. Specify the order amount.
  6. Confirm to submit the order.
     

The order will be triggered automatically once the market reaches the defined price conditions.

 

Placing an Iceberg Order

  1. Navigate to Assets → Spot.
  2. Select a trading pair.
  3. Choose Iceberg as the order type.
  4. Enter:
    • Total order amount 
    • Visible order amount
       
  5. Set the order price and confirm.

    Heshket will place smaller visible orders sequentially until the total amount is executed.

 

Monitoring Your Orders

  • Open Orders displays active TP/SL and Iceberg orders.
  • Order History shows all completed and cancelled orders.
  • Triggered TP/SL orders will appear in order history once executed.

     

 

Important Notes

  • TP/SL and Iceberg orders do not guarantee execution if market conditions are not met.
  • Market volatility and liquidity can affect execution speed and price.
  • Always ensure sufficient balance before placing any order.

     

 

Need Help?

If you have questions about TP/SL or Iceberg orders, please contact Heshket Customer Support or visit the Help Center.