What are smart orders?

Last updated: March 2026

Smart orders overview

Smart orders let you automate your trading strategy. Set your entry, take-profit, and stop-loss when you open a position — VersaTrader handles the rest.

Order types

Take-profit (TP)

Automatically sells a portion (or all) of your position when the price reaches a target. You can set up to 10 TP levels at different prices and percentages.

Example: Buy BTC at $40,000. Set TP at $45,000 for 50% and $50,000 for the remaining 50%.

Stop-loss (SL)

Closes your position if the price drops to a specified level, limiting your downside.

Example: Buy BTC at $40,000. Set SL at $37,000 to cap your loss at 7.5%.

Trailing stop

A dynamic stop-loss that follows the price upward. If BTC rises from $40k to $50k with a 5% trail, your stop moves from $38k to $47.5k. If price falls 5% from the high, the stop triggers.

Best for: Letting profits run while protecting gains.

OCO (One-Cancels-Other)

Place a take-profit limit order and a stop-loss simultaneously. When one executes, the other is automatically cancelled.

How to place a smart order

  1. In the order form, select Limit or Market entry
  2. Enable Take Profit and/or Stop Loss toggles
  3. Set your price targets
  4. Click Place Order

VersaTrader manages the TP/SL orders on the exchange’s behalf. If the exchange doesn’t support OCO natively, VersaTrader monitors the price and places the order when triggered.

Paper trading

All smart order types work in paper trading mode. This is a great way to test your strategy before using real funds.