Stop Loss – an order to close a previously opened position at a price less profitable for the Customer than the price at the time of placing the order.
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.
If you place these types of orders you do not have to sit in front of your computer to wait for the outcome. Take Profit and Stop Loss orders will be executed automatically as soon as the price reaches the order level (see below). You can place Stop Loss and Take Profit at the time of making a deal filling in the “Stop Loss” and “Take Profit” fields in the “Order” window:
Afterwards in order to modify Stop Loss and Take Profit levels use the context menu:
Right click on the open position or on the pending order in the “Trade” tab of the “Terminal” window then select Modify or delete order. The “Modify order” window enables:
- Fill in the “Stop Loss” and “Take profit” fields. By pressing the red button (in our example “1.2121″) you can copy this level into the “Stop Loss” field. By pressing the blue button (in our example “1.2096″) you can copy this level in the “Take profit” field. The value in the “Level” field defines the difference between the order level and the current price. Once you fill in the “Stop Loss” or/and “Take profit” fields press the red “Modify #position number…” button.
In order to delete Stop Loss or Take profit orders specify its level as equal to zero.
