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Stop loss bot set-up

One of the primary benefits of FODL is its smart contract bots that offer protection against liquidations by setting stop losses.

Setting up the FODL stop loss bot

  1. 1.
    Click on the settings icon on the right hand side of your open position on the FODL dashboard.
  2. 2.
    Use the slider to set the stop loss price.
  3. 3.
    Use the slider to set the unwind factor. This is the percentage by which your position will be decreased when the action is triggered.
  4. 4.
    Use the slider to set the bot incentive. This is the percentage of your position value that you want to give to the bot to incentivize.
  5. 5.
    If you're satisfied with these settings, click 'Save' and confirm the transaction in your Web3 wallet.
Please note that the bot operates at collateral usage limit, not the fixed price