On Bybit's platform, traders have 4 different ways of configuring a take profit order, namely:
1) Without an existing open position, traders can set a one-click take profit price at the confirmation window while placing an open position order.
2) With an existing open position, traders can navigate to that position’s tab to set a take profit price.
For the two above-mentioned methods, once the last traded price (LTP) reaches your preset take profit price, your position will be fully closed as a market order. No partial closure is allowed.
3) Traders can also use a limit order to take profit by submitting an order in the opposite trade direction. This method allows partial closure of the position and the position will be closed as a limit order.
4) Traders can also use a conditional market order to take profit by setting the trigger price as the take profit price. This method is very similar to method 1 and 2, but the main difference is the ability to do a partial closure of the position.
For more details, please click here.