A take profit sells after a rise. A stop loss sells after a fall. Both sit on a position you already hold and watch it for you.
Open the coin from your portfolio and choose TP/SL, or Edit TP/SL from /limitorders.
Setting a level
Each side — 📈 Take Profit and 📉 Stop Loss — switches on and off independently and has its own levels.
You can write a level four ways:
A take profit has to be above your entry and a stop loss below it. Dawn says so rather than accepting a level that could never make sense.
Quick levels
Several levels
A side can hold up to 5 levels, each selling its own share. This is the difference between one exit and a plan.
Enter them comma separated:
Each level sells an equal share, and the last one sells whatever is left. To size them yourself, put the share after a colon:
A level set to 100% sells everything remaining at that point. So 50% here, 100% there sells half at the first level and the rest at the second — not half and then half of the half.
Ready-made ladders
A tighter stop protects more capital and gets knocked out more often. On a coin that routinely moves 30% in an hour, a −6% stop will be hit by noise rather than by a trend.
Defaults for every new position
Rather than setting exits coin by coin, set them once for the profile: /settings → Stop Loss & Take Profit.
Every new position then gets those levels automatically, and you can still change any individual position from its own page afterwards.
Defaults can only use the relative forms — a percent or a multiple — because there is no coin yet to have a market cap.
A default stop loss is the single most useful setting in Dawn. It turns “I’ll watch it” into something that happens whether or not you are awake.
Slippage on a stop
Stops have their own slippage, separate from your trading slippage, because a stop that refuses to fill has not protected anything. The default is 20%, and you can set 10%, 20% or 50%.
Higher gets you out of a falling coin more reliably, at a worse price. Lower protects the price and risks not filling at all.
What happens when one fires
A card lands in the chat with the result and the market cap it fired at.
A stop loss is not a floor. It is an instruction to sell when a level is reached, filled at whatever the market gives it then. A coin that gaps down, loses its liquidity, or blocks selling can leave you far below the level you set — or unable to exit at all.Note also that a stop needing more gas than your Gas Surplus allows will not fire. If you rely on stops, set a surplus limit. 