A take-profit (TP) or stop-loss (SL) order closes a position automatically when the market reaches a price you set in advance. A TP locks in gains, and an SL limits losses. You can set them when you place an opening order or on a position you already hold. This article explains how they work and how each setting method closes the position. For step-by-step instructions, see How to Set Take Profit and Stop Loss. For common questions, see the TP/SL Orders FAQ.

What is a take-profit (TP) or stop-loss (SL)?

• - Take Profit (TP): when the price moves in your favor and reaches the target, the system automatically submits a close order to lock in gains.
• - Stop Loss (SL): when the price moves against you and reaches the preset level, the system automatically submits a close order to limit the loss.
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Example: XAUUSD is at 3,300 USD and you open a long position. You set a Take Profit at 3,350 USD and a Stop Loss at 3,260 USD. If the market rises to 3,350 USD, the system submits a close order for the long position. If the market falls to 3,260 USD, the system also submits a close order.

How TP/SL orders work

A TP/SL order works in two steps.

1. 1. Set the trigger price. When the market reaches this price, the TP or SL triggers.
2. 2. Submit a close order. After triggering, the system submits a close order. It can be a market order or a limit order, depending on the TP/SL type you chose.
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Triggering a TP/SL does not guarantee a fill at the trigger price. The actual fill depends on the order type, market volatility, order book depth and order size.

TP/SL orders do not expire on a timer. They remain active until they trigger, you cancel them, or the position is fully closed or liquidated, at which point they are removed.

TP/SL setting options

The platform supports three methods:

3. 1. Set TP/SL at order placement. You set TP and SL with the opening order. They take effect after the order fills. The close order defaults to a market order.
4. 2. Partial TP/SL on a position. You close only a specified quantity of an open position. You can use a market or limit close.
5. 3. Position TP/SL on a position. You close 100% of an open position. The close is always a market order.
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Each method suits a different plan. You can set your exit before opening a position, or adjust it after the position is open as the market changes.

Set TP/SL at order placement

You enter TP and SL levels when you submit the opening order. After the order fills, the settings take effect.

Example: XAUUSD is at 6,000 USD. You buy to open a long position and set a Take Profit at 6,200 USD and a Stop Loss at 5,850 USD. If the market rises to 6,200 USD, the take-profit triggers and the system submits a market close order. If the market falls to 5,850 USD, the stop-loss triggers and the system submits a market close order.

This method suits traders who decide the exit plan at the moment they open a position, so they do not forget to set it or react too slowly in a fast market.

Set TP/SL on an existing position

You open the position page while you hold a position and set TP/SL for it. There are two types:

• - Partial TP/SL. Closes only the quantity you specify. It supports market or limit close. Use it to take profit in stages or manage risk gradually.
• - Position TP/SL. Closes the whole position at market when triggered. Use it for one exit condition across the full position.
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Partial TP/SL example: You hold a 1 XAU long position and want to close 0.4 XAU at 6,200 USD. The remaining 0.6 XAU stays open.

Position TP/SL example: You hold a 1 XAU long position and want to close the whole position if the price falls to 5,850 USD.

Differences between the three settings

• - Order-level TP/SL: set with the opening order. Defaults to a market close. Suits planning the exit in advance.
• - Partial TP/SL: set on an existing position. Closes part of the position with a market or limit order. Suits staged profit-taking or stop-loss.
• - Position TP/SL: set on an existing position. Closes 100% at market. Suits a single exit for the whole position.
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TP/SL direction for long and short positions

• - Long position: a price rise is a profit and a price fall is a loss. Set the take-profit above the entry or current price, and the stop-loss below it.
• - Short position: a price fall is a profit and a price rise is a loss. Set the take-profit below the entry or current price, and the stop-loss above it.
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Example for a short opened at 6,000 USD: take-profit at 5,800 USD, stop-loss at 6,150 USD.

Is TP/SL guaranteed to execute?

No. Triggering a TP/SL does not guarantee execution at the trigger price.

• - A market close fills at the best available price, which may differ from the trigger price, especially in fast markets or thin order books.
• - A limit close fills at your specified price or better. If the market does not reach that price or moves away quickly, the order may not fill or may fill only partly.
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Frequently asked questions

Why didn’t my TP/SL trigger? The market price may not have reached the trigger price, the TP or SL direction may be wrong, the market may have moved briefly without meeting the trigger, the position may already be closed, or the contract may be suspended, under maintenance, or restricted.

Why didn’t my TP/SL fill completely after it triggered? If the triggered close order is a limit order, the market may not have reached the limit price. The market may also have moved quickly, order book depth may have been insufficient, the order may have been large, or position size, margin or trading restrictions may have changed.

What should I note when using TP/SL? - The final execution price can differ from the trigger price. - Market-order TP/SL prioritizes speed but may have slippage. - Limit-order TP/SL gives price control but may not fill. - A TP/SL set at order placement defaults to a market close. - Partial TP/SL supports market and limit methods. - Position TP/SL uses a fixed market order to close 100%.