Take profit and stop loss

Both wait on the exchange and close with reduce-only orders, so they only ever make the position smaller, and they fire while Mirrorlane is closed. They are for perpetuals.

• Each watches the mark price. For a long, the take profit sits above the price and the stop loss below it; for a short, the other way round.
• When the mark reaches a trigger, its order goes out. A market take profit or stop loss fills at once, with a worst price your Max TP and SL slippage past the trigger. A limit one places a limit order at its limit price.
• A take profit and a stop loss set together, on the ticket or for the entire position, are a pair: when one fills, the exchange cancels the other.

Tick TP / SL on the Market or Limit tab. Two rows appear, TP and SL. Type each as a price, or press its unit to type a gain or loss in % or in $; the row shows the other two as you type. The % is the return on margin: the price move times your leverage. Gains and losses count from the order’s price: your limit price, or for a market order the best price on the book.

They go out with the order as one group. Once it fills, the take profit and stop loss stand for the size it filled, as market orders at your TP and SL slippage, and they expire 28 days after you send. The confirmation shows them under the order, and the ticket warns when the stop loss is beyond the estimated liquidation price. With Size by set to Risk, the stop you size against is the order’s stop loss, and the box reads Take profit.

Open the TP / SL dialog from the TP / SL column in Positions, which reads Set when there are none, from the row’s menu, or on a phone from the position’s card. It shows the position’s entry, mark and liquidation price.

Choice	What it does
Entire position	One take profit and one stop loss tied to the whole position. They close all of it, whatever its size by then, and the exchange cancels them when the position closes or changes side.
Partial position	New reduce-only orders for the size you enter, or 25%, 50%, 75% or 100% of the position, beside any already there.
Market or Limit	How they fill when they fire. Limit adds TP limit price and SL limit price, which are the trigger unless you type another.
Take profit and Stop loss	A trigger price, or a gain or loss in % or $ from your entry. Each shows the PnL at its price.

A trigger on the wrong side of the mark is held back, with “Take profit must be above the mark price.” or its like.

On the chart, the position’s tag carries a TP and an SL handle until it has each. Drag one to a price to set it there for the entire position at once, or click it to open the dialog. Drag a take profit or stop loss line to move it. On a phone, use the position’s card.

Setting or limit	What it does
Max TP and SL slippage	1% by default, up to 10%, in Settings, Trading. How far past the trigger a market take profit or stop loss may fill.
Default TP and SL as limit orders	Off by default, in Settings, Trading. Starts take profit and stop loss on a position as limit orders, in the dialog and from the chart.
Pending orders	Each take profit and stop loss counts as a pending order until it fires. Plus accounts hold up to 500 and Premium up to 1,000, with at most 100 in one market.
Limit price	A limit one’s price must sit within 5% of its trigger, checked as on a stop limit.

A take profit or stop loss pays the fee of the order it sends when it fires. See The fee.

• The stop loss is past the liquidation price. Liquidation may come first. The ticket, the dialog and the chart warn.
• The price jumps past the trigger. A market take profit or stop loss fills only as far as its slippage limit, and the rest is cancelled, so part of the position can stay open. A limit one may not fill.
• The last price wicks through and the mark doesn’t. They fire on the mark price only.
• Partial orders keep their size. They don’t grow or shrink with the position. Entire position orders do.
• You remove one of a pair. Only that order is cancelled; the other stays.

Open the dialog again. A new price changes that order in place, and clearing a field cancels that order alone. Switching between Market and Limit places the new order before the old one is cancelled, so the position stays covered. Save changes sends it all. Other take profit and stop loss orders on the position stay as they are; change them in Open orders, where those tied to the entire position show Position as their size, with Edit and Cancel on each row.