# Take Profit / Stop Loss (/docs/risex/trading/tpsl)

## Overview

Take Profit (TP) and Stop Loss (SL) orders let you automate position exits at predefined price levels. Set your risk and reward targets when entering a position, then let the system manage exits.

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## Take Profit (TP)

Automatically close your position when price reaches your profit target.

### For Long Positions

* Triggers when mark price rises **above** your TP price
* Closes position by selling at market

### For Short Positions

* Triggers when mark price falls **below** your TP price
* Closes position by buying at market

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## Stop Loss (SL)

Automatically close your position to limit losses when price moves against you.

### For Long Positions

* Triggers when mark price falls **below** your SL price
* Closes position by selling at market

### For Short Positions

* Triggers when mark price rises **above** your SL price
* Closes position by buying at market

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## Setting TP/SL

You can set TP/SL orders:

1. **When opening a position**: Set TP/SL as part of your entry order
2. **On existing positions**: Add TP/SL to positions you already hold
3. **Modify anytime**: Update TP/SL levels while the position is open

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## Execution

TP/SL orders execute as **market orders** when triggered. This ensures execution but may result in slippage during volatile conditions.

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## Partial TP/SL

You can set TP/SL for a portion of your position:

* Take partial profits at multiple levels
* Scale out of positions gradually
* Keep exposure while locking in gains

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## Important Considerations

### Trigger Price

TP/SL orders trigger based on the **mark price**, not the last traded price. This prevents manipulation via single trades.

### Cancellation

TP/SL orders are automatically cancelled when:

* The associated position is fully closed
* You manually cancel them
* The position is liquidated