A take profit / stop loss order lets you place two linked orders at the same time to close an existing stock or ETF position:

• Take profit: A limit order that can execute at your limit price or better.
• Stop loss: A stop order that triggers a market order when the stock reaches your stop price.

Both orders are active at the same time and use the same share quantity, trading session, and time in force. When one order is fully filled, the other is automatically canceled. If one order is partially filled, the same number of shares is canceled from the other order, and the remaining quantity stays active on both.

You can use a take profit / stop loss order to close a long or short position. You can’t use it to open a new position.

A take profit / stop loss order can help you plan an exit, but it doesn’t guarantee a profit or limit your loss to the stop price.

• Your take profit order isn’t guaranteed to execute. A limit order can only execute at your limit price or better. If there aren’t enough shares available, it may be partially filled or not filled at all.
• Your stop price isn’t a guaranteed execution price. When the stock reaches your stop price, the stop loss order becomes a market order. The final execution price may be different from the stop price, particularly at market open or during periods of volatility.
• Orders only execute during market hours. You can place a take profit / stop loss order at any time, but an order placed outside of market hours will be queued until market hours begin.

For a long position, both orders are sell orders:

• The take profit order is a sell limit order.
• The stop loss order is a sell stop order.
• Your take profit price must be higher than your stop loss price.

For a short position, both orders are buy-to-close orders:

• The take profit order is a buy limit order.
• The stop loss order is a buy stop order.
• Your take profit price must be lower than your stop loss price.

When placing a take profit / stop loss order:

• Each price must be at least 0.25% away from the last trade price.
• The take profit and stop loss prices must be at least $0.10 apart.
• Only whole-share quantities are supported.
• The quantity included in the order is reserved while the order is pending, so you can’t use the same position quantity in another order.
• Tax lot selection isn’t available.

You can only cancel the combined take profit / stop loss order. You can’t cancel the take profit or stop loss order individually. Canceling the combined order cancels the remaining unfilled quantity for both orders. If part of your order has already been filled, the completed trade won’t be affected.

You can’t edit or replace a pending take profit / stop loss order. To change the quantity, prices, or time in force, cancel the existing order and place a new one.

You can view the overall order and the status of the individual take profit and stop loss orders in your order history.

You can place take profit / stop loss orders for supported stock and ETF positions in the Robinhood app and Robinhood Legend.

On Robinhood Web Classic, you can view and cancel an existing take profit / stop loss order, but you can’t place a new one. This order type isn’t currently available for options, crypto, futures, or index options.

All investments involve risk and loss of principal is possible. Robinhood Financial LLC is a registered broker-dealer (member SIPC). Robinhood Securities, LLC is a registered broker-dealer and provides brokerage clearing services (member SIPC). Both are subsidiaries of Robinhood Markets, Inc. (‘Robinhood’).