> For the complete documentation index, see [llms.txt](https://docs.vibe.trading/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.vibe.trading/trading/take-profit-stop-loss-tp-sl.md).

# Take Profit/Stop Loss (TP/SL)

TP/SL orders close your position automatically once a predefined profit or loss level has been reached. The market price serves as the trigger.

## Placing TP/SL

* You can specify the TP/SL level in several ways:
  * Price Input: Enter the exact TP/SL price you want.
  * Dollar Value: Enter the profit or loss amount in USD.
  * Percentage: Enter the desired percentage increase or decrease from your entry.
  * Chart Interaction: Click the TP or SL input box and then click on the TradingView chart. You can drag these lines on the chart to refine them.
* Slippage Tolerance: TP/SL market orders have a 10% slippage threshold. If price impact exceeds 10%, the order may not fully execute.
* Full Position Closure: By default, TP/SL orders aim to close your entire position upon triggering.

## TP/SL addition/amendment to Open Positions and Pending Orders

You can add or modify a TP/SL on open positions or pending orders at any time:

1. Locate your position or order in the panel under the chart.
2. Click the TP/SL icon.
3. Enter your updated TP/SL details in the modal.