Bybit stop loss update and trailing stop

General Questions
#1

Hey there! hope everyone is well :slight_smile: Is there a command that can update a stop loss? I’m currently using a break-even strategy where the stop loss is adjusted when the price reaches a certain level. When this occurs, I would like to send an updated stop loss. Additionally, my exchange platform offers a trailing stop option. Could you please guide me on how to activate it? If updating the stop loss isn’t possible, is there an alternative solution? Thank you!

#2

Hello @gigi
At the moment, we do not have the ability to update the tp/sl

#3

Hi, I think we can do this by sending the new TP and SL with a command this way:
Buy BTCUSDT Q=0 TP=[your new tp]% SL=[your new sl] %

do not use brackets. It then adjust your TP and SL.

#4

Hello @T999T,
No, that is not correct as having a quantity of 0 will return an error.

#5

thanks for the help!

1 Like
#6

I just tested it with RNDRUSDT and it seems to work.

Buy RNDRUSDT Q=0.1 TP=[your new tp]% SL=[your new sl] %
(do not use brackets. It then adjust your TP and SL)

Why Q=0.1? It’s the lowest value you can send for RNDRUSDT.

Example:
Your initial order is this; Buy RNDRUSDT Q=1000 TP=3% SL=1 %
Now you want to adjust the TP to 2%, then do this:
Buy RNDRUSDT Q=0.1 TP=2% SL=1 %

I tested it and it indeed changes the TP to 2%.

It’s a workaround by using a very small amount of coins to adjust the TP and/or SL settings in ByBit.
The trick here is to use the smallest amount of coins you can sent to ByBit for the pair and then adjust your TP/SL