sl-or-tp - Combined Stop Loss + Take Profit

Place Take Profit and Stop Loss together with automatic One-Cancels-Other monitoring.

What is sl-or-tp?

sl-or-tp is the easiest way to protect your positions with both upside (take profit) and downside (stop loss) protection in a single command.

Atomic Placement
Places both TP and SL orders simultaneously - no delay between them
Automatic OCO Monitoring
When one order fills (TP or SL), the other is automatically cancelled. No manual cleanup needed.
Set and Forget
Perfect for swing trades - set your exit levels and let the system manage them

How OCO Monitoring Works

After placing both orders, flipr.cloud actively monitors them. As soon as one fills or is cancelled, the system immediately cancels the other. This ensures you never have orphaned orders left on the exchange.

Syntax

sl-or-tp [long|short] <amount> sl off <sl_value> tp off <tp_value>
sl-or-tp [long|short] <amount> sl off <sl_value> tp off <tp_value> #tag
sl-or-tp [long|short] <amount> sl off <sl_value> tp off <tp_value> mark|last|index

Parameters

long|shortOptional

Type: keyword | Values: long, short (or buy, sell as aliases)

Optional when a preceding market command identifies the position, or when the exchange reports a single open position—even in a separate webhook.

With both sides open in hedge mode and no preceding market command, select the closing side: short protects the long; long protects the short. Explicit side selection is supported on Bybit, OKX and WEEX Futures.

amountRequired

Type: number or string

How much of your position to close with TP/SL. Most commonly use 100%p to close entire position:

Format	Example	Meaning
`%p`	`100%p`	100% of position (full exit)
`%p`	`50%p`	50% of position (partial exit)
`number`	`0.01`	0.01 BTC (absolute amount)

tp off valueRequired

Type: number or string

Take Profit offset. Places a limit order at this distance INTO profit:

tp off 100 - Take profit after $100 move into profit
tp off 5% - Take profit after 5% price move into profit
tp off e5% - 5% from average entry (recommended for open positions)
tp @ 52000 - Absolute price of $52,000
tp rr3 - Risk/Reward ratio: TP at 3x the SL distance (3:1 R/R)
tp rr2.5 - Risk/Reward ratio: TP at 2.5x the SL distance (2.5:1 R/R)

TP order is placed as a post-only limit order - you'll get maker fees (usually lower or even rebates)

sl off valueRequired

Type: number or string

Stop Loss offset. Places a stop market order at this distance INTO loss:

sl off 50 - Stop loss after $50 move into loss
sl off 2% - Stop loss after 2% price move into loss
sl off e2% - 2% from average entry (recommended for open positions)
sl @ 48000 - Absolute price of $48,000

SL order is a stop market order - guaranteed to fill but price may slip in fast markets

#tagOptional

Type: tag identifier

Label both orders for later reference. Use #tag syntax. Useful for managing multiple positions.

reduceOptional

Type: flag keyword

Add reduce keyword to ensure orders can only reduce position size, not increase it. Usually not needed as this command is designed for closing positions.

mark | last | indexOptional

Type: keyword | Default: last

Which price to use for triggering both SL and TP orders:

Trigger	Description	Best For
`mark`	Mark price	Most reliable, manipulation-resistant
`last`	Last traded price (default)	Fastest response
`index`	Index price	Based on spot exchanges, very stable

When specified, the trigger type applies to both SL and TP orders. Not all exchanges support all trigger types - check your exchange's capabilities.

Real-World Examples

1. Basic Long Trade with 2:1 Risk/Reward

Enter a long position, take profit at +4%, stop loss at -2%. This gives you 2:1 reward to risk ratio.

BTCUSDT on My_API_Key
// Enter long position
market long 0.01
// Protect with 4% TP and 2% SL
sl-or-tp short 100%p sl off 2% tp off 4%

Risk:Reward = 1:2 - Risk $100 to make $200. When either TP or SL hits, the other is auto-cancelled.

2. Entry-Relative Offsets (Best Practice)

Use entry-relative offsets (e%) for more precise TP/SL based on YOUR entry price.

ETHUSDT on My_API_Key
market long 0.5
// TP/SL relative to entry price
sl-or-tp short 100%p sl off e2.5% tp off e5%

Using e5% means "5% from MY entry price", not from current market price. This is more accurate when market is moving quickly.

3. Partial Exit Strategy

Take profit on 50% of position, let the rest run with a separate stop.

BTCUSDT on My_API_Key
market long 0.02
// Exit 50% at 3% profit
sl-or-tp short 50%p sl off 1.5% tp off 3%
// Let remaining 50% run with wider stop
sl off e2%

This secures partial profits while keeping exposure for bigger moves. First 50% exits at 3% profit, remaining position has a 2% stop loss.

4. Absolute Price Targets

Take profit at a specific resistance level, stop loss at support.

BTCUSDT on My_API_Key
// Buy at market (assuming ~$50,000)
market long 0.01
// TP at resistance, SL at support
sl-or-tp short 100%p sl @ 49000 tp @ 52000

Using absolute prices (@ 52000) is perfect when trading at key levels. TP at $52k resistance, SL at $49k support.

5. Automatic Risk/Reward Ratio

Use the rr notation to automatically calculate TP based on SL distance.

BTCUSDT on My_API_Key
// Set SL at 2%, TP automatically at 6% (3:1 R/R)
market long 0.01
sl-or-tp short 100%p sl off 2% tp rr3

tp rr3 automatically calculates TP at 3× the SL distance. If SL is 2% away, TP becomes 6% away (3:1 reward to risk). This works with any SL value: sl off e1.5% tp rr2.5 would set TP at 3.75% (2.5× of 1.5%).

6. Short Position with TP/SL

Enter a short and protect it with TP below and SL above.

BTCUSDT on My_API_Key
// Enter short position
market short 0.01
// TP below, SL above (for shorts)
sl-or-tp long 100%p sl off 1.5% tp off 3%

For shorts, use long to close (buy back). TP/SL offsets work the same way - positive values automatically go in the correct direction (TP below, SL above for shorts).

Important Limitations

OCO monitoring continues for the duration of your session, but will stop if backend restarts
OCO monitoring automatically cancels remaining orders if you manually close your position on the exchange
For best results, use this immediately after entering a position with market

Best Practices

Always define both TP and SL - Never trade without protecting both sides
Use 2:1 or better R:R - Aim for at least 2x reward compared to risk (e.g., tp=4%, sl=2%)
Prefer entry-relative offsets - Use e% for more accurate TP/SL based on your actual entry
Use 100%p for full exits - Closes entire position regardless of size
Place immediately after entry - Don't wait, protect your position right away

Exchange-Specific Behavior

sl-or-tp creates two orders and monitors them with OCO logic. Implementation varies:

Exchange	Native OCO	Implementation
Binance	Yes	Native OCO with GTE_GTC (requires workaround for SHORT)
ByBit	Yes	Native position TP/SL
BitMEX	Yes	Native OCO via clOrdLinkID
Bitget	No	Flipr.Cloud OCO Monitor (polling)
Bitunix	No	Flipr.Cloud OCO Monitor (polling)
HTX	No	Flipr.Cloud OCO Monitor (polling)
KuCoin	No	Flipr.Cloud OCO Monitor (polling)

Flipr.Cloud OCO Monitor: When native OCO isn't available, Flipr.Cloud monitors both orders and cancels the remaining one when either fills.

Polling interval is ~1 second. For faster cancellation on exchanges without native OCO, consider using smart-oco.

Related Commands

smart-oco

- Position-aware OCO for advanced exit strategies

stoploss / takeprofit

- Standalone SL or TP (no OCO monitoring)

oco

- Monitor existing orders with OCO logic

market

- Use inline sl/tp for simpler setups