# Stop-Loss Orders
Stop-loss Market orders only execute when the oracle price crosses a given stop price. A market order will be placed when the price reaches a specified stop price.
By automatically closing your positions when the price crosses the stop price (for long positions) or goes below it (for short positions), stop market orders can be used to prevent losses on your positions. Once triggered, the resulting market order will be immediately filled.
### Place a Stop-Loss Order:
Traders need an open position to execute this order type.
1. Select the asset you are going to trade in the asset selector drop-down
2. Choose a side, either long or short (opposite of your open position)
3. Pick an order type (stop order)
4. Input your desired Collateral
5. Enter your limit price in the price field
6. Input your position size
7. Click on `Place Stop Order`
Once you’ve executed the transaction, the order will appear under the Orders tab. When the oracle price reaches the take profit price, the order will be executed, and your position will be opened.
### Canceling a Stop-Loss Order
If you want to cancel a Stop-Loss order before it has been executed, then click on `Cancel` and confirm in your wallet. As mentioned above, cancellations are done on-chain so this will carry a gas fee.
{% hint style="success" %}
You can open multiple limit orders for the same market. You can manage your stop orders (cancel them) on the Orders tab. No fee is imposed unless the order is executed.
{% endhint %}
**Stop-Market orders are dual-purpose and can be used to exit profitable or unprofitable positions at a certain price point or open new positions once a price barrier has been breached.**
---
# Agent Instructions: Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.
Perform an HTTP GET request on the current page URL with the `ask` query parameter:
```
GET https://docs.kwenta.io/using-kwenta/perennial-isolated-margin/trading-on-perennial/conditional-orders/stop-loss-orders.md?ask=
```
The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.
Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.