> For the complete documentation index, see [llms.txt](https://tradewithonyx.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://tradewithonyx.gitbook.io/docs/trading/take-profit-stop-loss.md).
# Take Profit / Stop Loss
Take Profit and Stop Loss orders allow positions to be closed automatically once a defined profit target or loss threshold is reached. These orders are triggered based on the mark price.
Users can create and modify TP/SL levels directly from the TradingView chart interface. If an order is moved to a price level that would result in immediate execution, the system will return an error to prevent unintended execution. Positions that are intended to be closed instantly can instead be exited manually through the trade panel.
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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 8%.
* Limit TP/SL orders allow you to control slippage by setting a custom 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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