A Stop-Limit and Take-Profit Limit order will be executed at a specified price, after a Trigger price conditions has been reached. Once the Trigger price is reached, the stop-limit or take-profit-limit order becomes a limit order to buy or sell at the limit price.
Explanation of a Stop-Limit and Take-Profit-Limit mechanics:
Trigger price: When the asset price reaches the given Trigger price, the stop-limit/take-profit-limit order is executed to buy or sell the asset at the given limit price.
Limit price: The selected price that the stop-limit/take-profit-limit order is executed at. Basically by placing an order on a ladder.
Quantity: The quantity of contracts to buy or sell in the stop-limit/take-profit-limit order.
Cost: Amount of DGTX that has to be on your trading account balance in order to support execution of stop-limit or take-profit-limit order.
You have an open trade of 1000 contracts long with $9350 entry price and you want to place take profit and stop loss on this trade.
For this purpose take-profit-limit and stop-limit tools will become handy.
First let's set up a stop-loss, assuming we want our trade to be closed if Spot Price(our Trigger Price) reach $9305 - we will place 1000 contracts on sell side at $9310 price.
Now let's set up a take-profit-limit to our trade, by switching to relevant tool called "Take-Profit-Limit" and setting up the parameters as follows - we want our trade to be closed when the Spot Price(our Trigger Price) will reach level of $9440 by placing a sell order at $9435.
Of course you can always use same price for Trigger Price and Limit Price parameters, however it is not necessary and some traders find that better way is to set trigger to a bit higher or lower price to avoid unexpected price fluctuations.
Eventually you will be able to observe all of your stop-limit and take-profit-limit orders on a special tab called "Delayed actions", from where you can easily cancel any if you like.