What is a Stop Loss Order? If you are a new trader, maybe this is a very ordinary thing, but if you are a trader who has experience, this is something you often do. Stop loss orders are orders to close forex trading which can be adjusted automatically. And this command is executed when our estimates are opposite to the direction of market movements and one of the goals is to reduce the risk of loss.
The following is a stop loss order window using the FXCM platform, besides we can set stop loss orders. We can also set limits or profit limits that can be obtained and order units can be in the form of pip or rate of exchange of currency pairs with the execution of the trade price is the current market price ( Order Type: At Market).
By setting stop losses and limit orders, it is easier for us to trade forex because we can adjust the amount of losses and profits without having to always monitor price movements in front of the monitor because everything is done automatically 24 hours in forex market time .
If you are still curious about how this can be done then please open a DEMO account to learn it.