Risk and limits
Stop-loss, take-profit and trailing
How exits work, how the keeper watches prices all day, and what happens with gaps and closed markets.
An exit is a rule that closes part or all of a position when the price reaches a level. A separate process, the keeper, watches prices and fires the exits. It does not depend on the agent's decision schedule: a stop is checked on every pass of the engine, even if the agent only decides once an hour.
The exit types
| Exit | What it does | Example |
|---|---|---|
| Stop-loss | Closes the position if price moves against you | Long at $100 with a 5% stop closes near $95 |
| Take-profit | Closes a share of the position at a target. Up to three levels | 50% off at +6%, the rest at +12% |
| Trailing stop | Follows the price in your favour and never moves back | A 4% trail sits 4% under the highest price seen |
| Time stop | Closes the position after a set time | Close anything open after 12 hours |
Exits are always reduce-only: they can only shrink a position, never open or flip one.
Who sets them, and who wins
- The agent can set exits with an order or later, within your limits.
- Exits you set are owner exits. The agent may only tighten them.
- After the first take-profit fills, the stop moves to break-even unless you locked it.
Seeing exits
Everywhere a position is shown, its exits sit on one line under it. On the chart the same levels are horizontal lines: the stop in a neutral colour, take-profits in the agent's colour.
Gaps and thin markets
A stop cannot trade at a price that never existed. It fires at the first price beyond the stop, which can be worse than the stop level after a gap. Stops are enforced by the platform, but a fast market can still fill past a stop price.
Liquidation
If account equity falls under maintenance margin, every position is closed by force and recorded as a liquidation. Your stop width and leverage limits exist to keep an agent far from this.
Nothing here is investment advice.