On MEXC's Futures trading page, the website's order placement section is located by default on the right side of the page. In this section, you can set leverage, margin mode, order type, and otherOn MEXC's Futures trading page, the website's order placement section is located by default on the right side of the page. In this section, you can set leverage, margin mode, order type, and other
Learn/Trading Guide/Futures/A Complete Guide to MEXC Futures Candlestick Chart Operations: Order Placement, Reversal, and TP/SL Explained
A Complete Guide to MEXC Futures Candlestick Chart Operations: Order Placement, Reversal, and TP/SL Explained
On MEXC's Futures trading page, the website's order placement section is located by default on the right side of the page. In this section, you can set leverage, margin mode, order type, and other parameters to open positions. For more details about the MEXC Futures page, you can refer to "Explanation of Terminology on the Futures Trading Page."
In cryptocurrency futures trading, opportunities often appear and disappear quickly. Many investors hope to be able to open or close positions directly on the candlestick chart while analyzing price movements to capture market fluctuations. To meet these needs, MEXC Futures now supports trading directly from the candlestick chart. This article will guide you through the process. Currently, candlestick chart trading is only supported on the web version. This article uses the USDT-M Futures web interface for demonstration purposes.
1. What Is a Candlestick Chart? Why Is It Useful?
Candlestick charts, also called K-line charts,are one of the most common chart types in financial trading. Each candlestick chart includes four key data points: open, close, high, and low, visually showing price fluctuations over a specific period.
Benefits of Understanding Candlestick Charts:
- Visual market insights: The shape of red/green candles and the length of the wicks helps quickly judge market bullishness or bearishness.
- Trend identification: Consecutive candle patterns help traders recognize upward, downward, or sideways trends.
- Trading decision support: Combined with volume and technical indicators, candlestick charts can signal when to buy, sell, or hold.
- Risk warning: Certain reversal patterns (e.g., hammer, engulfing) indicate potential market turnarounds, helping avoid losses.
Understanding Candlestick charts helps users observe price trends more effectively and enhances the flexibility and efficiency of trading strategies.
2. How to Place a Limit Order from the Candlestick Chart
2.1 Creating a Limit Order
On the Futures trading page, hover your mouse over the candlestick chart, and a ⊕ icon will appear on the right. Click ⊕ to open the limit buy/sell input box. Enter the quantity and click the corresponding Limit Buy/Sell icon on the left to place the limit order. Note: Orders from the candlestick chart do not currently support selecting or adjusting margin mode or leverage; you must set these in the main order section beforehand.
If the limit order price is below the current market price, it will open a long position, displayed with a green limit-buy icon on the candlestick chart. If the limit order price is above the current market price, it will open a short position, displayed with a red limit-sell icon on the candlestick chart.
Click the ▼ icon above the quantity input box to set the contract units.
2.2 How to Modify a Limit Order
Once your limit order is placed, it appears on the candlestick chart. Hover over the order to see Click to change order. Click the limit order icon to open the Edit Limit Order input box, then enter the new price and quantity to update the order.
Alternatively, you can click and drag the limit order icon up or down to adjust the price. Note: Dragging only changes the price; quantity cannot be modified this way.
2.3 How to Cancel a Limit Order
On the candlestick chart, each limit order icon has an X button on the far right. When you hover your cursor over the X, the text Cancel Order will appear. Click X to cancel the order.
3. How to Reverse Positions from the Candlestick Chart
If your order has already been filled, your position will be shown on the candlestick chart. Hover over the ↑↓ icon on the right side of your position, and you will see the text Reverse Position. Then, click the ↑↓ icon to execute a reverse position.
A reverse position means the system will close your current position at market price and simultaneously open an opposite position of the same size at market price. Please note: due to factors such as margin availability, market conditions, and risk, the operation may not always succeed.
4. How to Close a Position from the Candlestick Chart
Hover your cursor over the Close Long/Short button on the right side of your position icon on the candlestick chart. You will see the option Market Close Position. Click the Close Long/Short button to quickly close your position at the current market price.
5. How to Edit TP/SL Orders from the Candlestick Chart
5.1 How to Set TP/SL
Hover your cursor over the Close Long/Short button on the right side of your open position icon on the candlestick chart. On the right, you will see two icons: TP and SL. Hover over the TP icon to display the message "Drag or click to set position TP." Similarly, hovering over the SL icon will display "Drag or click to set position SL."
We'll use a short position TP as an example for demonstration purposes.
Hold down the TP button and drag it downward. While dragging, you'll see your profit amount updating in real time on the right. Release the mouse at your desired take-profit price, and a Market Price TP/SL window will pop up. Click Confirm to complete the setup. The same applies for SL.
If you prefer not to use the drag-and-drop method, you can simply click the TP or SL button. This will open the Market Price TP/SL window, where you can manually enter your ideal take-profit or stop-loss price. Click Confirm to save the settings.
5.2 How to Edit TP/SL Orders
After setting a TP/SL order, corresponding icons will appear on the candlestick chart at your chosen price levels. Hover the cursor over a TP/SL icon and you'll see the prompt Click to change order. Clicking it will open the Market Price TP/SL window, where you can adjust your TP/SL price. Click Confirm to save the changes.
You can also edit TP/SL orders by dragging.
Hover your cursor over the TP or SL icon, then click and hold the icon to drag it up or down to a new price level. When you release the mouse at your desired price, a window with the updated price will pop up. Click Confirm to save the changes.
5.3 How to Cancel a TP/SL Order
Hover your cursor over the X icon next to the TP/SL marker. A tooltip will appear saying Cancel Order. Click the X to cancel the TP/SL setting.
Trading directly on the candlestick chart allows users to more intuitively observe position changes and current market prices, adjust positions flexibly, and develop trading strategies. It also makes operations more convenient, helping users respond effectively to fast-moving market conditions. Compared with the order placement area, the candlestick chart functionality is relatively limited. For more complex trading strategies, users still need to operate within the order placement area.
6. Introduction to the TP/SL Function in MEXC Futures Products
On MEXC, there are two scenarios where the TP/SL function is used: before holding a position and while holding a position.
TP/SL Before Holding a Position: This allows you to set a closing order in advance with trigger conditions (such as Yield or PNL). When the Last Price, Fair Price, or Index Price reaches the preset trigger price, the system will close the position at the optimal market price based on the preset trigger price and quantity, achieving either a take-profit or stop-loss. This enables users to automatically secure their desired profit or avoid unnecessary losses.
TP/SL While Holding a Position: This refers to directly setting a Market Price TP/SL, using the Entire Position or Partial Position (website), users can predefine trigger conditions (such as Yield, PNL, or USDT). When the Last Price, Fair Price, or Index Price reaches the preset price, the system will close the position at the optimal market price based on the preset price and quantity.
MEXC has also introduced Take-profit Reverse and Stop-loss Reverse in Futures trading, helping MEXCers take advantage of bidirectional market movements to maximize profits.
6.1 Setting TP/SL
TP/SL refers to setting take-profit (TP) and stop-loss (SL) in advance for positions that are about to be opened. Users can set TP/SL when opening a position. You can then choose Last, Fair, or Index Price as the trigger for TP/SL. When the order is executed (fully or partially) at a limit or market price, the system will immediately place a TP/SL order based on the preset trigger price.
Users can choose from three setting modes: USDT (Trigger Price), Yield, or PNL. If, for example, you select Yield, the trigger price and estimated PNL are calculated based on the selected rate.
Important Notes: The system allows TP/SL to be set by Yield or PNL, but the values are for reference only. Transaction fees, changes in average entry price, and actual executed prices will affect actual yield and PNL. Adding to a position will change the average entry price, but the TP/SL trigger price is fixed at the time of creation and will not automatically adjust.
Risk Reminder: Futures trading is a high-risk investment. Investors should fully understand the risks and trade cautiously. For more on high-leverage trading risks, see "Leverage Trading Strategies & Risk Management."
Recommended Reading:
- Why Choose MEXC Futures? Gain deeper insight into the advantages and unique features of MEXC Futures to help you stay ahead in the market.
- How to Participate in M-Day Learn the step-by-step methods and tips for joining M-Day and don’t miss out on over 70,000 USDT in daily Futures bonus airdrops.
- MEXC Futures Trading Tutorial (App) Understand the full process of trading futures on the app and get started with ease.
Currently, MEXC is running a 0 Fee Trader's Fest, where users can significantly reduce trading costs allowing them save more, trade more, and earn more. On MEXC, you can enjoy low-cost trading while staying up-to-date with market trends, capturing every fleeting investment opportunity, and embarking on a journey to financial independence.
Disclaimer: The information provided in this material does not constitute advice on investment, taxation, legal, financial, accounting, or any other related services, nor does it serve as a recommendation to purchase, sell, or hold any assets. MEXC Learn offers this information for reference purposes only and does not provide investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. MEXC is not responsible for users' investment decisions.
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