What is the function of Take Profit (TP) and Stop Loss (SL) in Crypto Futures?

Take Profit (TP) and Stop Loss (SL) are exit orders on Pluang's Crypto Futures that automatically close some or all of an open position once price reaches a level you set in advance, removing the need to watch the market and react manually in real time. TP locks in gains by closing your position once price moves in your favor and reaches your chosen target, while SL caps losses by closing your position once price moves against you past a level you're no longer willing to hold through. Both are optional and independent of each other — you can set just TP, just SL, both, or neither, and you can attach them when you first open a position or add them afterward to a position you already hold. TP and SL can be linked together as an OCO (One-Cancels-the-Other) pair, or created separately as Independent orders that each stay active on their own regardless of what happens to the other. Multiple TP and SL orders are also supported on the same position, which lets you build a layered exit strategy instead of relying on a single fixed target.

• Secure profits automatically — TP closes your position at your target price without you needing to watch the market in real time or be online when the level is reached.
• Limit losses to a level you can tolerate — SL closes your position once price moves against you past your set limit, protecting the rest of your margin balance from further drawdown.
• Set your exit strategy in advance — configure TP/SL when you open a position, or add it afterward to an existing position at any point while it's open.
• Two ways to link them — TP and SL can be set together as an OCO (One-Cancels-the-Other) pair or separately as Independent orders, depending on how you want them to interact.
• Multiple TP/SL supported — you can place more than one TP or SL order on the same position to scale out at different price levels.
• Reduce-Only by design — every TP/SL order can only reduce your existing position, so it can never accidentally flip you into the opposite direction.

Related questions:

Q: Do I have to set both TP and SL?
No — you can set just TP, just SL, both together, or neither. Each is optional and independent unless you submit them together, in which case they form an OCO pair. Many traders start with just an SL for downside protection, then add a TP once they've decided on a target, or build both in from the start depending on their trading plan.

Q: Does TP/SL still work if I close the app?
Yes — TP/SL orders are stored and monitored on Pluang's server, not on your device, so they execute automatically even if the app isn't open or your phone is off. You don't need to keep the app running or stay logged in for a TP or SL to trigger once price reaches your set level.

Q: What happens to TP/SL when my position is fully closed?
TP/SL orders are Reduce-Only and are automatically canceled once the position they protect is fully closed, whether that closure happens manually, through the TP/SL itself, or through liquidation. This prevents a leftover order from accidentally opening a new position in the opposite direction after your original position no longer exists.

Q: Can I choose how my TP/SL executes once triggered?
By default, TP/SL executes as a Market Order the instant your trigger price is reached, prioritizing a guaranteed exit over price precision. With Advanced TP/SL, you can switch either leg — TP, SL, or both — to Limit execution instead, trading fill certainty for tighter price control.