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Take-profit order

A limit order at a target price that closes a winning position automatically.

A take-profit (TP) order is a resting limit order placed at the desired profit-target price. When price trades to the level, the limit fills and the position closes at the planned profit. Many exchanges expose 'TP/SL' as a single bracket that pairs a take-profit limit and a stop-loss stop on the same position.

Because TPs are typically limit orders, they only fill if price actually reaches the level — a gap past the TP can leave the order unfilled, with price moving back through it without execution. Some platforms offer a 'TP market' variant that converts to market at the target, guaranteeing execution at the cost of price certainty.

TP-as-limit is the standard. For partial TPs (close half at 1R, ride the rest), most exchange brackets allow either tiered limits or programmatic position resizing.

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