When setting up a new order or modifying an existing order, you have a choice to set your “Take Profit” and “Stop Loss”. Once the order is set, it normally closes according to the target price, so as to help you lock in the profit when the target price is reached, or minimises the loss if the market moves unfavourably.
Please note that, with any order, gaps may appear due to market conditions, in which case the system cannot execute the order at the default price, but will close the position at the next-most favourable price from the target price.
The current price of EUR/USD is 1.13816/1.13837 (sell/buy). You have created a 1-lot (1 lot = 100,000 EUR) buy order at 1.13837 and have set a stop loss order at 1.13806.
Under normal circumstances, when the price falls to 1.13806, your stop loss order will be triggered and the position will be closed at 1.13806, with a total loss of USD31. However, when the market situation suddenly changes, and the price directly falls from 1.13837 to 1.13795, directly skipping over your stop loss target, a market gap appears, and so the system will not be able to close the position at 1.13806, but will choose the next most favorable price, which is 1.13795, to close your position, and the final loss will be USD42.
Trailing stop loss (or “trailing stop”) is a powerful tool. The stop-loss price changes automatically with profit, so you can maximize your locked-in profit or reduce losses without having to monitor your position all the time. You only need to set a trailing stop loss when you create a new order. When the price is moving in the direction that is beneficial to you, your stop loss order will be automatically updated according to the latest price. Conversely, when the price moves in a direction that is unfavorable to you, the stop loss order will be activated and the position will be closed at the distance you set. Please note that, with any order, gaps may appear due to market conditions, in which case the system will not be able to execute the order at your default price, but will close the position at the next-most favorable price from the target price.
The current price of EUR/USD is 1.13816/1.13837 (sell/buy). You have created a 1-lot buy order at 1.13837 and set a 100-point (0.00100) trailing stop loss.
When the price of the product is 1.13816, your stop price is 1.13716. If the product sell price rises to 1.13846, the stop price will be updated according to the distance you set, and the updated stop price will be 1.13746. Conversely, when the product price falls from 1.13846 to 1.13746, the trailing stop loss will be triggered and the position will be closed at 1.13746.
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