A take profit limit order triggers when the price reaches your target and then places a limit child at a separate price.
What it does
A take profit limit trigger activates at a favorable price and attempts to submit a limit child at a separate configured price.
It adds price control after activation, but that control can prevent the child from completing.
How it works
| Price | Purpose |
|---|---|
| Trigger price | Determines when the condition activates |
| Limit price | Defines the worst price the child may accept |
| Price Source | Chooses the price the trigger watches |
A Sell take profit needs a trigger above the watched price and activates when the price rises to it. A Buy take profit needs a trigger below the watched price and activates when the price falls to it.
Price Source sits under Advanced in the Order Form. Last watches the last traded price and is the default. Index watches the market's index price, and the trigger waits while that price is stale. See which price a trigger watches.
After activation, the child follows normal limit-order behavior. It can execute immediately, fill in parts, rest in Open Orders, or remain completely unfilled.
When to use it
- Use it when the child needs a firm price boundary. Take Profit Limit fits a target where the trader will not accept execution beyond a chosen limit price.
- Avoid it when completing the exit matters more than price. Choose Take Profit Market when a limit child remaining unfilled would be worse than price movement during execution.
Confirm both prices, the side, quantity, Price Source, time in force, precision, and available balance before submitting. To set an exit together with its entry order, attach a take-profit instead.
Example
Let's say Bitcoin is currently trading at 100,000 USDT. You hold 0.01 BTC, worth about 1,000 USDT, and want to sell once the price reaches 105,000 USDT, but you will not sell below 104,800 USDT. Because that minimum price matters more than guaranteeing a fill, you choose Take Profit Limit.
- A Last Price trade at or above 105,000 USDT activates the trigger.
- Polyester submits a Limit sell for 0.01 BTC at 104,800 USDT.
- The best bid is 104,900 USDT for 0.006 BTC, so that quantity fills at 104,900 USDT.
- The market then falls below 104,800 USDT, and the remaining 0.004 BTC rests.
Result: You sell 0.006 BTC for 629.40 USDT before fees. The remaining 0.004 BTC stays unsold until eligible liquidity returns to 104,800 USDT or higher, or you cancel the child order.
These are example prices and available quantities.
What to watch
- A standalone take profit reserves balance when you create it.
- A fast reversal can pass through the limit before the child works.
- A restrictive limit can leave exposure open.
- Partial fills can leave a working remainder.
- A limit child can use Good Til Canceled, Immediate Or Cancel, or Fill Or Kill. Good Til Date is not offered.
- Canceling the trigger does not cancel a child that already exists.
- Monitor the parent on the TP/SL trigger tab and the child separately.
