> ## Documentation Index
> Fetch the complete documentation index at: https://docs.hyperdash.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Take Profit and Stop Loss

> Set exit triggers on a position that execute as a market, limit, chase, or TWAP order when your price is reached.

Take Profit and Stop Loss (TP/SL) predefine your exits: a take profit closes some or all of a position at a level in profit, and a stop loss caps your downside. You can attach TP/SL while placing an order or add them to any open position, and you choose how each exit executes.

## How it places orders

* Each leg is a trigger. Nothing new rests on the book until price reaches your trigger, then the exit order is placed automatically.
* Set each leg by price, or by gain/loss in percent or \$. The other field converts automatically from your entry price and position size.
* Choose the exit execution per leg: **Market** closes immediately with slippage capped at 5%, **Limit** rests an order at the trigger price, **Chase** follows the best bid or ask, and **TWAP** slices the exit over a set window.
* Whichever trigger fires first starts the exit, and the strategy tracks it until the size is closed.
* **Configure Amount** closes a portion of the position instead of all of it, set as a percent of the position or a fixed asset amount.

## When to use it

* Bracket a position with a profit target and a risk limit in one step.
* Enforce risk discipline without watching the screen.
* Scale out: take partial profit at a target while the stop covers the full position.

## Parameters

| Parameter                   | Description and options                                                                                                   | Default          |
| --------------------------- | ------------------------------------------------------------------------------------------------------------------------- | ---------------- |
| TP Price / Gain             | Take profit trigger. Enter a price, or a gain in % or \$. Must be above the mark price for longs and below it for shorts. | None             |
| SL Price / Loss             | Stop loss trigger. Enter a price, or a loss in % or \$. Must be below the mark price for longs and above it for shorts.   | None             |
| Order Type (per leg)        | Market, Limit, Chase, or TWAP execution once triggered.                                                                   | Market           |
| Duration (TWAP only)        | Window the TWAP exit is sliced over, from 30 seconds to 1 hour.                                                           | 5m               |
| Configure Amount (optional) | Partial exit size, as a percent of the position or an asset amount.                                                       | 100% of position |

At least one of TP or SL is required. Both can be set on the same position.

## Example

You are long 0.2 BTC from \$65,000. You set a take profit at \$71,500 (a 10% gain) as a Limit exit and a stop loss at \$61,750 (a 5% loss) as a Market exit, both on full size. If BTC trades up to \$71,500, a limit sell rests at that price. If BTC instead drops to \$61,750, the position closes immediately at market with slippage capped at 5%.

<Note>
  Non-market exits carry fill risk: a limit, chase, or TWAP exit may not fully close the position during a fast move. A market stop can also fill worse than its trigger price if the market gaps through your level.
</Note>