Phantom launches limit orders for Phantom Perps
Phantom, a Solana-focused wallet app, has introduced limit orders in its Phantom Perps feature for perpetual futures trading. This update allows users to set take profit and stop loss triggers directly on their positions for automated closures at target prices. The app also supports intuitive risk management through drag-and-drop adjustments and enables users to add to existing positions while maintaining leverage. This enhancement expands Phantom's capabilities into advanced order management tools.
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Introduction to Phantom's New Feature
Phantom, a Solana-focused wallet app, has introduced a new feature for its perpetual futures trading tool, Phantom Perps. The wallet now supports limit orders, allowing users to enhance their trading strategies directly through the mobile app.
Key Functionalities: Take Profit and Stop Loss
With the new limit orders feature, users can set take profit and stop loss triggers directly on their perpetual futures positions. This automated system ensures that trades are closed at target prices, offering better risk and reward management for traders.
User-Friendly Adjustments
Phantom introduces an intuitive feature allowing users to drag-and-drop on the perpetual chart to adjust stop-loss and take-profit levels. This interactive design simplifies risk management and empowers users to make quick changes to their trading positions.
Expanding Capabilities: Advanced Order Management
The wallet now supports adding to existing positions to amplify exposure while maintaining consistent leverage. This enhancement moves Phantom beyond basic trading functionality, advancing into the realm of sophisticated order management tools.