Take profit and stop loss

A take profit (TP) closes your position when the price reaches a level in your favor. A stop loss (SL) closes it when the price moves against you. Both are optional. You can set one, both or none.

TP and SL are trigger orders. They wait on the venue, not in the app. They work even when Prow is closed and your phone is off.

How they trigger

• They trigger on the mark price of the venue, not the last trade. See Mark price.
• When triggered, they close at market and are reduce-only: they can only close, never open a new position.
• A Long's TP must be above the mark and its SL below. For a Short it is the reverse.

Where to set them

• In the order ticket, for a new order.
• In Trade's positions panel, in the TP/SL column: tap the levels to change them, or + TP/SL when there are none. On a phone, tap TP/SL on the position card.
• On the position: tap a position on Portfolio or Trade, then TP/SL next to Take profit and stop loss.

All of these open the same TP/SL window for the position.

TP/SL on a new order

In the ticket, check Take profit and stop loss under the size. Two fields appear: Take profit and Stop loss. Type a price. Next to each field you see the result at that price, for example "+$117, +58.4% ROE".

The checkbox is off while Only reduce is on: a reduce-only order has nothing new to protect.

This order vs Whole position

For a market order on Hyperliquid, the ticket asks what the TP/SL applies to:

• This order: the TP/SL covers only the size of this order. If you add to the position later, the extra size is not covered. If you already hold a position, its existing TP/SL stays as it is.
• Whole position: the TP/SL covers the entire position, including what you add later. Its size follows the position, and it is cancelled when the position closes. It replaces any TP/SL you already have on that coin. The ticket warns you: "Replaces the current TP/SL on your BTC position".

For limit and stop orders, TP/SL always applies to this order.

Hyperliquid vs Aster

• Hyperliquid attaches TP/SL to the entry order. They go live as soon as the entry fills, even if it fills hours later.
• Aster has no attached TP/SL. Prow places them right after your order fills, and they always close the whole position. If your limit order does not fill at once and rests in the book, it gets no TP/SL. Set them from the position once it fills. The ticket says so under the TP and SL fields.

• Lighter sends the entry and its TP/SL together as one group. The TP and SL follow the size that fills, go live once the entry fills, and one cancels the other. TP/SL can ride with market and limit orders, not with stop orders. Whole position TP/SL on Lighter is tied to the position: it closes whatever you hold and goes away when the position closes. Lighter has no trailing stop.

TP/SL on an open position

The window is titled with the position, for example TP/SL for BTC-PERP Long, with its size, venue, entry and mark under the title. Then come the two legs, Take profit and Stop loss, one under the other.

What's in the window

• Current: the trigger price of the order resting on the venue now. "+2" means two more levels.
• Presets under each field: +5%, +10% and +25% ROE for the take profit, −5% and −10% ROE for the stop loss. A preset is greyed out when it would be on the wrong side of the mark.
• Breakeven: moves the stop loss to your entry price plus the round-trip fees. It shows only when the position is far enough in profit that the stop would lock in at least zero.
• Advanced: opens the unit switch, Add TP level and, on Aster, the trailing stop. Without it each leg is one price field.
• Price, %, ROE, $ (under Advanced): the unit you type in. Price is the trigger price. % is the price move from your entry. ROE is the return on your margin, so it includes leverage. $ is the profit or loss in dollars. The line under the field shows the same level in the other units.
• Add TP level (under Advanced): splits the take profit into several levels. See Multiple take profits.
• Trailing stop (under Advanced): Aster only, so a Hyperliquid position's window doesn't show it. See Trailing stop.
• The note at the bottom says how they work: both trigger on the venue's mark price and close at market, only reducing the position. When one fills, the other is cancelled. The Liq. price sits under it.

To remove a leg, clear its field and tap Save.

Errors and warnings

• "Must be above mark X" (or below): the level is on the wrong side and would trigger at once.
• "Past liquidation at X, it would never trigger": your SL is beyond the liquidation price. The position would be liquidated first. Move the SL closer.

What Save does

Prow saves only the legs you changed. For each leg it places the new order first and cancels the old one after. If the venue refuses the new order, the old one stays. Your position is never left without the stop you had.

A single take profit and the stop loss set here cover the whole position. Take-profit levels from a ladder close a fixed share each.