> ## Documentation Index
> Fetch the complete documentation index at: https://docs.dawn.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Take Profit And Stop Loss

> Automatic exits on a position you hold, in one level or several.

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](/trading/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:

| Form       | Example         | Means                  |
| ---------- | --------------- | ---------------------- |
| Percent    | `+100%`, `-30%` | Relative to your entry |
| Multiple   | `2x`, `5x`      | Relative to your entry |
| Market cap | `\$2m`, `450k`  | An absolute level      |
| Price      | `0.0034`        | An absolute level      |

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

| Side           | One tap                      |
| -------------- | ---------------------------- |
| 📉 Stop Loss   | −10% · −20% · −30% · −50%    |
| 📈 Take Profit | +50% · +100% · +200% · +500% |

## 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:

```text theme={null}
+60%, +120%, +250%
```

Each level sells an equal share, and the last one sells whatever is left. To size them yourself, put the share after a colon:

```text theme={null}
+60%:30, +120%:30, +250%:40
```

<Note>
  **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.
</Note>

### Ready-made ladders

<Tabs>
  <Tab title="Take Profit">
    | Preset          | Levels             |
    | --------------- | ------------------ |
    | 🟢 **Steady**   | +30%, +80%         |
    | 🟡 **Balanced** | +60%, +120%, +250% |
    | 🔴 **Moonshot** | +150%, +500%       |
  </Tab>

  <Tab title="Stop Loss">
    | Preset          | Levels           |
    | --------------- | ---------------- |
    | 🟢 **Relaxed**  | −20%, −40%       |
    | 🟡 **Balanced** | −12%, −25%, −45% |
    | 🔴 **Strict**   | −6%, −12%        |
  </Tab>
</Tabs>

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.

<Tip>
  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.
</Tip>

## 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.

| Card        | What it means                                                                                                                 |
| ----------- | ----------------------------------------------------------------------------------------------------------------------------- |
| **filled**  | It sold. The position updates.                                                                                                |
| **failed**  | It could not sell — the card names why, and what happens next.                                                                |
| **expired** | The level was not reached in time. Set a new one from the coin's page.                                                        |
| **paused**  | There is no live price feed for the coin yet. The level is still being watched, and it fires as normal once the feed is back. |

<Warning>
  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](/settings/guardrails#gas-surplus) allows will not fire. If you rely on stops, set a surplus limit.
</Warning>