Stop orders.

The main point when trading on any of the exchanges is capital management and risk insurance for already open positions; in the latter case, it is customary to use so-called stop orders.

A stop order is an order that allows you to force a position to be closed, which is triggered when pre-specified parameters are reached.

Such parameters may include the price indicator of the asset used for trading or time (duration of the transaction). There are several types of such orders, each of which is designed to perform its own functions.

Stop loss – it can be called the most important stop order, it is the one that protects you from the complete loss of your deposit.

It is the stop loss that allows you to determine in advance what size of losses you are willing to accept when opening a new deal. Setting the parameters of this order occurs in the position management window; this can be done either immediately before the start of the transaction or after opening the order. Read more about working with this order in the article “ How to set a stop loss ”.

Trailing stop - as you want, to take more profit, and so that the transaction is reliably protected.
This can be done by moving the stop to the no-loss zone. This action can be performed either manually or automatically by simply setting a trailing stop. Your stop loss will then follow the price towards the trend at the distance you set and will only trigger under unfavorable circumstances, ensuring maximum profitability.

Features of setting a trailing stop are described at this link.

Take profit is the most pleasant stop order, since it allows you to fix the profit level; this order is triggered as soon as the price reaches the level that you set.

And if it is customary to set a stop loss in any case, then a take profit is not so obligatory to set, an exception may be the situation when you leave a position unattended.

Learn more about setting take profit .

One feature should also be noted: if stop loss and take profit work regardless of whether the trader’s terminal is turned on, then the trailing stop works only when the terminal is turned on or its operation requires installation of the terminal on a virtual server.