# Take Profit / Stop Loss

## Take Profit and Stop loss (TP/SL) Orders

TP/SL orders are used to automatically close a position once it reaches a certain profit or loss level. These are triggered using the mark price.

You can place and adjust TP/SL orders directly on the TradingView chart. If you drag an order to a level where it would instantly execute, an error will appear — this is to prevent accidental trades. If you do want it to execute immediately, you can close it manually via the position table or order form.

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**Market vs Limit TP/SL Orders**

You can choose between market or limit TP/SL orders:

* Market TP/SL orders have a default slippage tolerance of 10%.
* Limit TP/SL orders allow you to control slippage by setting a custom price.

For example, let’s say you have a long position and set a stop loss with:

* Trigger price: $10
* Limit price: $10

If the price drops quickly from $11 to $9, the SL may not fill — it will rest at $10. But if you set the limit price lower (e.g. $8), it’s more likely to get filled, though potentially at a worse price.

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**TP/SL Tied to a Position**

When you place TP/SL orders from the position form, they default to cover the entire position size. You can also set a fixed size manually — this will not adjust even if your position changes.

These are recommended for beginners due to their simplicity and ease of use.

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**TP/SL Linked to a Parent Order (OCO)**

TP/SL orders can also be attached to a parent order (this setup is also called one-cancels-other or OCO). These behave a bit differently:

* If the parent order fills fully, the TP/SL orders are immediately created.
* If the parent order is only partially filled, TP/SL orders remain inactive.
* If you cancel a partially filled parent order, the TP/SL orders are also cancelled.
* If the parent order is partially filled and then auto-cancelled due to insufficient margin, the TP/SL orders will still be placed — assuming a full fill.

Summary: TP/SL orders tied to a parent order will only go live if the parent fully fills, or if it’s partially filled and then cancelled due to margin limits. If the order is manually cancelled mid-fill, the linked TP/SL will not go through.


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