A stop loss order is an order placed with a broker to buy or sell a financial currency when it reaches a particular price. Stop-loss orders are designed to limit a traders risk and protect open positions, should a trade go in the opposite way as predicted.
When a currency pair falls below the stop price, the order is then triggered and the position that has the stop loss applied to then close. For example, a trader may buy USD/JPY and places a stop loss 10% below the acquisition price. Should the price drop, the stop order would be activated, and therefore the pair would be sold as an order.
Most of the traders use stop loss for long term but it can also be used for short term positions.
Stop loss order in automated trading
If you are a manual trader:
Firstly it’s kind of a risk that you completely understand the stop loss order or not.
Secondly you cannot be sure where to put the stop loss.
Thirdly you have to sit in front of your computer as long as your trade is running.
Fourthly there are many more difficulties if you are trading manually.
But, if you are using an automated system or looking for it, then you are at the right place.
Because automation has changed the trading industry and has made it so easy to trade. You can be on a short trip without worrying about your trading account, you can work in office without looking at your trading account or you can simply sit back and relax whilst the system does the work for you.
And the most beneficial thing about automated trading is that you have guaranteed profits because the robot trading on your behalf knows where to put a stop loss and where to take profits. The robot is sticks to the plan that is programmed into it, fully minimizing the emotions that then to lead to bad decision making or human errors, and operating for you 24/5. Whenever you look at the trading account, you will be happy.
In other words, let CTT take the pain of manual trading away and fully automate your income with our solutions.
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