# 🤖Set Stop Loss and Take Profit Orders

To turn on Limit Orders, simply toggle the On/Off button and options to set Stop Loss and Take Profit will appear.

![](https://3431135529-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MYhYcw9WN6xTQqOD_-A%2Fuploads%2FiRUetAkONkCrCmZN0kIZ%2Fimage.png?alt=media\&token=e49c16a4-6cd5-4807-8382-198e9a3a88a4)

📈**Take Profit** specifies the exact price at which to close out an open position for a profit. If the price of the token does not reach the limit price, the take-profit order does not get filled. Learn more [here](https://www.investopedia.com/terms/t/take-profitorder.asp).

📉**Stop Loss** specifies that a token is to be sold when it reaches a specified price known as the stop price. Learn more [here](https://www.investopedia.com/terms/s/stop-lossorder.asp).

{% hint style="info" %}
Both values on WOWswap are specified in percentages.
{% endhint %}

The key advantage of using Limit Orders is that, you don’t need to monitor your holdings daily. It also allows you to follow your strategy before you open a trade, therefore, minimizing the number 1 enemy of a professional trader — your own emotions.

## Functioning of Limit Orders

👉Limit orders are executed in a decentralized way by liquidation bots that track and close trading positions which satisfy limit order conditions. For example, if a trading position reached a target profit or stop loss percentage, any liquidation bot can call WOW smart-contract and close this position.

💵**Executing limit orders is free for users**, liquidation bot operators pay for gas and don’t get any extra rewards or compensating for closing these positions.