Take profit is an order to close a previously opened position at a price more profitable for the client than the price at the time of placing the take profit. When the take profit is reached, the order will be closed. Stop loss on the other hand, is an order for closing a previously opened position at a price less profitable for the client than the price at the time of placing the stop loss. Stop loss is a limit point that you set to your order. Once this limit point is reached, your order will be closed.