What is 'Take Profit'?

An order to close a previously opened position at a price more profitable for the customer than the price at the time of placing the order. Taking profit is similar to stopping loss in that it's a limit point you set to your order. When reached, the order will be closed. There are, however, two differences:
There is no "trailing" point. The exit point must be set above the current market price, instead of below.