A Stop Loss Order is designed to be an exit order strategy to limit the amount of losses for a position. While a Take Profit is an order that closes your position once it reaches a certain level of profit.
Stop order—an order which is placed to the order book after a price movement crosses a predefined trigger price (stop price). Stop-loss order—a stop order (market—Stop-loss Market, limit—Stop-loss Limit) which is placed to the order book only if:
for sell orders—last trade price < stop price;
for buy orders—last trade price > stop price.
Traders may reasonably set the stop price to a margin order (for close orders), but the system does not perform any checks on that point, so it will not make any difference whether the order is a spot or margin one.
Take-profit order—a stop order (market—Take-profit Market, limit—Take-profit Limit) which is placed to the order book only if:
for sell orders—last trade price ≥ stop price;
for buy orders—last trade price ≤ stop price.
To place a Take-profit or a Stop-loss order:
Open Exchange on the trading terminal.
Navigate to the order creation form on the left side of the page.
Click Market or Limit tab.
Select Stop. An additional section will appear at the bottom of the form.
Select Stop Loss or Take Profit.
Specify Trigger Price field.
If the price chosen does not satisfy the requirements, a warning will appear at the bottom of the form that the order will be placed immediately.
Click Buy/Sell Market/Limit.
Confirm the action in a pop-up message.
In the My Orders and Trades section, the Order ID column will contain the T (Take-profit) or the S (Stop-loss) pictogram.
When the selected reference price reaches the Take Profit/Stop Loss price, the position will be closed immediately.