# Take Profit & Stop Loss

**Take-Profit (TP):** Close your position once you've reached a specified level of profit.

**Stop-Loss (SL):** Exit your position once the asset reaches a specified price to mitigate capital losses if the market moves against you.

**Please note:**

1. **TP/SL Orders Function as Market Orders:** TP/SL orders are executed as market orders.
2. **Configuration After Execution:** You can only select and configure TP/SL options after your order is executed. For limit and conditional (market or limit) orders, you need to wait for the orders to transition from pending status (under Active or Conditional) to the "Positions" tab at the bottom of the trading page. As market orders are immediately executed at the best available price, you can set TP/SL immediately without waiting for a trigger price.
3. **Default Reduce-Only Orders:** By default, all TP/SL orders are Reduce-Only orders on edgeX.
4. **Setting TP/SL:** Check your open positions under the "Positions" tab and click on the \[+Add] button to set TP/SL.
5. **Configuring TP/SL:**
   * A new window will pop up with the following fields:
     * All TP/SL orders can only be triggered by the Last Traded Price.
     * You can set either the Take-Profit or Stop-Loss sections, or both, if you want to apply both conditions to your orders.
     * Enter the Take-Profit trigger price and quantity. You can apply the TP condition to either a partial amount or the entirety of your order.
     * Similarly, for Stop-Loss, choose whether to apply the SL condition to a partial amount or the entirety of your order.
     * Click "Confirm" once you've verified the details of your order.
6. **Close By Limit Function:** Alternatively, you can use the Close By Limit function to set up Take-Profit orders, which serves the same purpose as Step 5 above.


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