# Take Profit and Stop Loss Exercises In this exercise, you'll enhance your understanding of GMX's perpetual DEX by implementing a contract that creates a long position with associated risk management orders. Specifically, you'll learn how to: 1. Open a long ETH position using USDC as collateral 2. Create a stop loss order that executes if prices fall below a threshold 3. Set up a take profit order that executes if prices rise above a target This exercise builds upon the concepts from the previous long and short exercises but focuses on advanced order types for risk management. The exercise starter code is provided in `TakeProfitAndStopLoss.sol`. ## Task 1: Receive execution fee refund Implement the necessary function to receive these ETH refunds. ## Task 2: Create a long position with risk management orders ```solidity function createTakeProfitAndStopLossOrders( uint256 leverage, uint256 usdcAmount ) external payable returns (bytes32[] memory keys) { uint256 executionFee = 0.1 * 1e18; usdc.transferFrom(msg.sender, address(this), usdcAmount); // Task 2.1 - Send execution fee to the order vault // Task 2.2 - Send USDC to the order vault // Task 2.3 - Create a long order to long ETH with USDC collateral // Task 2.4 - Send execution fee to the order vault // Task 2.5 - Create a stop loss for 90% of current ETH price // Task 2.6 - Send execution fee to the order vault // Task 2.7 - Create an order to take profit above 110% of current price } ``` Implement the `createTakeProfitAndStopLossOrders` function which creates three different orders: 1. A market order to open a long ETH position 2. A stop loss order that executes if ETH price falls below 90% of entry price 3. A take profit order that executes if ETH price rises above 110% of entry price ### Task 2.1: Send execution fee for the long position order Send the execution fee to the order vault for the initial long position order. ### Task 2.2: Send USDC collateral Send the USDC tokens that will be used as collateral to the order vault. ### Task 2.3: Create the long position order Call the `exchangeRouter.createOrder` function with the appropriate parameters to create a long position with the specified leverage and collateral amount. - Set `market` to `GM_TOKEN_ETH_WETH_USDC` ### Task 2.4: Send execution fee for the stop loss order Send another execution fee to the order vault for the stop loss order. ### Task 2.5: Create the stop loss order Create a stop loss order that will execute if the ETH price falls below 90% of the current price, closing the position to limit further losses. > Hints: > > - Set the `triggerPrice` to 90% of the current ETH price. > - `triggerPrice` has 12 decimals (1e12 = 1 USD) ### Task 2.6: Send execution fee for the take profit order Send a third execution fee to the order vault for the take profit order. ### Task 2.7: Create the take profit order Create a take profit order that will execute if the ETH price rises above 110% of the current price, closing the position to lock in profits. > Hints: > > - Set the `triggerPrice` to 110% of the current ETH price. > - `triggerPrice` has 12 decimals (1e12 = 1 USD) ## Hints ### Order types - **MarketIncrease**: Used to open positions at the current market price - **StopLossDecrease**: Executes when price moves unfavorably beyond a specified threshold - **LimitDecrease**: Executes when price moves favorably beyond a specified threshold ### Price considerations - For a **long position**: - When opening: `acceptablePrice` should be higher than current price (willing to pay up to X) - For stop loss: `triggerPrice` is below current price (execute when price falls to X) - For take profit: `triggerPrice` is above current price (execute when price rises to X) ### Execution fees - Each order requires its own execution fee - Fees are sent to the order vault before creating the order ### Return values - The function should return an array of order keys (one for each created order) - These keys can be used to track or cancel orders if needed ## Test ```shell forge test --fork-url $FORK_URL --fork-block-number $FORK_BLOCK_NUM --match-path test/TakeProfitAndStopLoss.test.sol -vvv ```