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

# Stop Loss and Take Profit: Protecting a Position on Everstrike

> Attach a stop loss and take profit when you open a position, or add them later. They are reduce-only trigger orders that close the position at your levels.

A **stop loss** closes a position when the price moves against you to a level you choose. A **take profit** closes it when the price reaches your target. On Everstrike both are trigger orders with the **reduce only** flag, so they can only shrink or close the position, never open a new one or flip you to the other side.

## Add them when you open a position

**1. Open the order form**

Choose the side, type and quantity as usual. See [Order Types](https://docs.everstrike.io/trading/order-types.md).

**2. Add Stop Loss / Take Profit**

Click **+ Add Stop Loss / Take Profit** and enter a **Stop Loss** price, a **Take Profit** price, or both.

**3. Review and submit**

The order preview shows the order's effect on your account. Submit, and the stop and take profit are attached to the position the order opens.

## Add them to an open position

After an order fills, the status window offers **Add TP/SL**, or shows "No exit levels set on this position." You can also open the position from **Positions** and set or change its levels there, then choose **Apply Changes**.

When you set a level on an open position, the panel shows what it would mean: the profit or loss at the chosen trigger and how it compares with your **liquidation price**.

## Which price triggers them

Like any trigger order, a stop loss or take profit fires when the price you choose under **Trigger on** reaches its level: the Mark Price, the Index Price or the Last Price. See [Order Types](https://docs.everstrike.io/trading/order-types.md#trigger-orders).

## Good practice

* **Keep the stop well before the liquidation price.** A stop triggers at its level, but in a fast market the fill can be worse. If the liquidation price is close behind the stop, a gap can carry the position into liquidation first.
* **Set the stop from the trade idea, then size the position**, so hitting the stop costs an amount you're comfortable with.
* **Funding moves the liquidation price.** On the paying side, check the gap again on positions you hold for days.

> [!WARNING]
>
> A stop loss is not guaranteed to fill at its exact price. It triggers at the level, and then fills at the best available price.

![Take profit, entry, stop loss and liquidation price on a long](https://mintcdn.com/everstrike-50e7a7f9/2qtJozkzDkOYul4J/images/help/sl-tp.png?fit=max\&auto=format\&n=2qtJozkzDkOYul4J\&q=85\&s=c47a8f7664f9a4b481c923320c5398e6)

Exit levels on a long position.

## Seeing and cancelling them

Stop losses and take profits appear on the [Triggers](https://docs.everstrike.io/trading/triggers.md) page, marked as Stop Loss or Take Profit, until they fire or are cancelled.


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