> For the complete documentation index, see [llms.txt](https://docs.tryliquid.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tryliquid.xyz/trading/take-profit-stop-loss.md).
# Take Profit / Stop Loss
Manage risk on Liquid with take profit and stop loss orders. Set TP/SL by price or return on equity from the order form, the chart, or the positions screen.
**Manage your risk with Take Profits and Stop Losses.**
A **Take Profit (TP)** is a price level at which your position closes automatically to lock in gains. A **Stop Loss (SL)** is a price level at which your position closes automatically to prevent further losses. Both are executed for you around the clock, so you do not have to watch the chart.
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We strongly recommend setting a stop loss on every leveraged position to protect your capital. A stop loss placed above your liquidation price lets you exit on your own terms instead of being liquidated.
{% endhint %}
There are three ways to set take profit and stop loss levels on Liquid: two in the order form, and one on the positions screen. TP/SL orders apply to the whole position and cancel automatically when the position closes.
### Order Form (Numerical)
Under the **Advanced** tab of the order form, enter a take profit price and a stop loss price. Instead of doing the mental math, you can also set TP and SL as a target **return on equity (ROE)**, and Liquid calculates the matching prices for you.
### Order Form (Visual)
After selecting TP/SL on the order form, refine your levels visually. Drag the take profit and stop loss lines directly on the chart and see the resulting profit or loss update live.
### Positions Screen
You can add or modify a take profit and stop loss after the trade is open. Open the **Positions** tab and tap the pencil icon next to the TP/SL column.
### Setting TP/SL with Co-Invest
You can also manage take profit and stop loss levels in plain language through [Co-Invest](/co-invest.md). Say "long ETH at 5x with a 3% stop and a 10% target" or "move my BTC stop to break-even." Co-Invest shows a confirmation card with the exact levels, and nothing changes until you confirm. Proposals are sanity-checked, so a stop loss at or beyond your liquidation price is rejected instead of placed.
