Take Profit & Stop Loss explained.
The two most important orders for risk management. Master them and you've solved half the problem of staying profitable in volatile markets.
What is TP/SL?
Take Profit (TP) and Stop Loss (SL) are conditional orders that automatically close your position when the price reaches a level you've set in advance. They take emotion out of exits — your plan executes whether you're watching the chart or not.
Entire vs Partial TP/SL
BitCore supports both modes — choose based on whether you want to scale out or close everything at once.
| Feature | Entire | Partial |
|---|---|---|
| Closes the full position when triggered | ✓ Yes | — No |
| Closes only a specified amount | — No | ✓ Yes |
| Multiple levels per position | — No (one TP, one SL) | ✓ Yes (scale out) |
| Best for | Single-target trades | Scaling out / multi-target |
Use Entire when you have a clear single target and want simplicity. Use Partial when you want to take some profit at the first target while letting the rest run for bigger gains.
How to set TP/SL on BitCore
Three ways to set your levels — pick whichever feels natural.
From the order form (before opening)
Check the "TP/SL" box at the bottom of your order form before clicking Buy/Sell. Enter your TP and SL prices, and they'll be set automatically when your position opens.
From the position row (after opening)
In the Positions tab, click +Add in the TP/SL column on any open position row to open the TP/SL modal. Set or update your levels at any time.
By dragging on the chart
Hover over the price axis on the chart, click and drag to create a TP or SL line at the exact price you want. Drag existing lines to adjust. The modal stays in sync.
Common mistakes to avoid
Setting SL too tight
If your stop is just a few ticks away, normal market noise will hit it before your trade has a chance to work. Use volatility (ATR) and structure (recent swing highs/lows) to place stops.
Moving SL to give the trade "more room"
Once you set a stop, never move it further away from your entry. Moving it closer (locking in a smaller loss) or to break-even is fine. Moving it wider is the cardinal sin of trading.
No TP at all
Without a profit target, you'll often watch winners turn into losers. Even a partial TP at 1:1 reward-to-risk locks in some profit and reduces psychological stress.
Closing TP/SL "to wait for a better entry"
Once you start managing positions emotionally, you've abandoned your plan. The whole point of TP/SL is automation — let it do its job.