WOO X Trading Updates - TP/SL limit orders, BBO orders and more!

Happy New Year, traders!

As we step into 2025, the optimism and excitement of a fresh start are undeniable. 2024 was a groundbreaking year for crypto, with Bitcoin reaching new all-time highs and a notable surge in interest from institutions, retail users, and even the US government. Talks of establishing a Strategic Bitcoin Reserve in the US have also added to the momentum, signaling a new chapter in the evolution of the space.

At WOO X, we remain dedicated to further enhancing your trading experience, helping you to seize every market opportunity with ease and speed. We’re excited to share some amazing updates we’ve been working on, so let’s dive right in!

TP/SL Limit Orders

First on the list are TP/SL limit orders. While TP/SL is not new to WOO X, this feature now includes the 'Partial Position TP/SL' functionality, allowing for limit orders alongside market orders for executing your TP/SL.

To access this feature, look for the 'Partial TP/SL' column on your Portfolio widget and click on the 'Add' button. Alternatively, you can set these options while placing new orders using the order entry tool.

In the Partial TP/SL dialog box, you can adjust parameters like the Trigger Price, Order Price, and Order Type. When the trigger price is hit, a limit order is placed at your set price, ensuring execution at or better than the limit price to avoid unfavorable slippage during volatile market moves.

You can set up to 10 partial TP/SLs, with each one individually configured as either a market or limit order, offering unparalleled flexibility for all types of traders.

Lock in profits with minimal slippage and manage losses precisely by using limit orders for both your take profit (TP) and stop loss (SL) targets.

For more detailed information on TP/SL limit orders, head over to this article on our Support Center.

BBO Orders

Next up, BBO orders. 

A BBO (Best Bid and Offer) order is an enhanced type of limit order that uses dynamic and pre-defined options to automatically capture the best available bid or ask prices on the orderbook. 

This makes BBO orders a powerful tool for traders to quickly capitalize on market opportunities with better execution prices. This works especially well on highly-liquid trading symbols and reduces the need for traders to make repeated adjustments.

Traders can specify whether their orders align with Queue or Counterparty prices on the order book from levels 1-5, with 1 representing the best available price in your order direction, and 5 being the fifth-best price.

To place a BBO order, enable BBO while specifying your limit order and select the desired Queue or Counterparty level (1-5).

Pro Tip: A strategic way to use BBO is by entering into a long position while ensuring you place a ‘maker’ order rather than a ‘taker’ order. Setting the BBO level to Queue 1 ensures your order is added to the order book as a maker order, helping you avoid higher taker fees.

And that is how you trade better.

For more information on BBO orders, head over to this article on our Support Center.

Chase Orders

Frustrated by your unfilled limit orders? Try chase orders.

The chase function allows you to automatically modify your pending limit order price to the best current orderbook price without resorting to opening a market order.

To use this feature, click the chase button on your pending limit order.

A confirmation prompt will appear. You can select 'Don’t show again' to streamline your workflow for repeated chase actions during fast-moving market conditions.

Pro Tip: A good use for the chase function would be to combine BBO orders with chase. If the price moves away from your BBO order, the chase function ensures your order stays at the best bid/ask price for quick execution, avoiding taker fees.

Summary

These updates to the core trading experience on WOO X—including TP/SL limit orders, BBO, and chase orders—are now fully available on both desktop and mobile platforms, ensuring a seamless and powerful trading experience wherever you go.

Got a feature in mind? Share your ideas with us by submitting a feature request on the WOO X Support Center!

Here’s to smarter, better trading in 2025!

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