What is the take profit limit?

Could you please explain what the take profit limit is in the context of cryptocurrency trading? I understand it's a tool used to lock in profits, but I'm curious about how it specifically works and when traders would typically use it. Does it involve setting a specific price point at which an order will automatically execute to sell assets, ensuring that gains are realized? Additionally, are there any drawbacks or considerations traders should be aware of when utilizing a take profit limit in their trading strategies?