> For the complete documentation index, see [llms.txt](https://hashhedge.gitbook.io/hashhedge-user-guide/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://hashhedge.gitbook.io/hashhedge-user-guide/en/take-profit-stop-loss.md).
# Take Profit / Stop Loss
Take Profit (TP) and Stop Loss (SL) close your position automatically at a price you choose, so you don't have to watch the market.
* **Take Profit (TP)** — closes the position when the market reaches your target price, locking in profit.
* **Stop Loss (SL)** — closes the position when the market moves against you to your chosen price, limiting your loss.
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**Important — limit orders lock your contracts.** A Stop Loss or Take Profit can only close contracts that are *free*. If those same contracts are reserved by an open **limit order** (including a manual limit order you placed to close the position), your SL/TP can trigger but **fail to execute**, because the contracts are already locked. Don't cover the same position with both a limit order and an SL/TP at once.
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## Set TP/SL when opening a position
1. On the **Trade** screen, set up your order as usual.
2. Tick the **TP/SL** checkbox.
3. Enter your **Take Profit** and/or **Stop Loss** price.
4. Open the position with **Buy / Long** or **Sell / Short** — the TP/SL is attached.
The TP/SL checkbox when opening a position
## Set or change TP/SL on an open position
1. Go to the **Positions** tab at the bottom of the screen.
2. In the **TP/SL** or **Position TP/SL** column, click the **edit (pencil)** icon on your position.
3. Enter or change your prices and confirm.
If you don't see the input line, hold **Shift** and scroll the mouse wheel to bring it into view.
The TP/SL and Position TP/SL columns in the Positions tab
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Percentage-based TP/SL values are calculated from the **current market price**, not from your entry price.
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## Cancel or remove a TP/SL
Open the TP/SL dialog for the position and click **Clear** next to the Take Profit or Stop Loss you want to remove, then confirm. The position stays open without that exit order. You can also overwrite a level by entering a new price and confirming.
## One TP/SL vs several (Partial vs Position)
The terminal has two modes:
* **Position TP/SL** — applies to the **entire** position (100%) and adjusts automatically if the position size changes. You can have **one** TP and **one** SL.
* **Partial TP/SL** — applies to a **chosen part** of the position. Use it to set **several** TP or SL levels at different prices (for example, take profit on 50% at one price and the rest at another).
**To add multiple TP/SL levels:** open the **Partial Position** tab, set the price and the size (%) for the first level and confirm, then repeat for the next level. Each new partial order can only use the portion **not already reserved** by a previous TP/SL or limit order.
Partial Position TP/SL
Entire Position TP/SL
## Limit Stop Loss: Trigger Price vs Order Price
A Limit Stop Loss uses two values:
* **Trigger Price** — the price that activates the order.
* **Order Price** — the price at which the closing limit order is then placed.
Leave a **small gap** between them (for example, Trigger Price 9900, Order Price 9890). If they're identical, the order may not execute when the price moves sharply through the level without retracing. Once the trigger is hit, the system places a **limit order** — and if the price doesn't return to the Order Price, it won't fill and the position stays open. (A Market Stop Loss avoids this by closing at the market price instead.)
## Trigger by Last Price or Mark Price
When your trigger is based on the **Last Price**, watch the **Last Price** chart. When it's based on the **Mark Price**, watch the **Mark Price** chart. Using the wrong chart can make orders execute differently than you expect, because the two prices can diverge.
## Trailing Stop
A trailing stop follows the market as it moves in your favor. Instead of a fixed price, you set a **variance (%)** — how far the price can move against you before it closes.
* As the market keeps moving in your favor, the stop follows it, locking in profit.
* If the market reverses by your set variance, the order triggers and closes as a market order.
* You can set an optional **activation price** — the trailing stop only starts tracking once that price is reached.
Trailing Stop settings
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On the mobile version of the terminal, Take Profit / Stop Loss is always set at the **Mark Price**.
