Stop Loss

This order is used for minimizing of losses if the security price has started to move in an unprofitable direction. If the security price reaches this level, the whole position will be closed automatically. Such orders are always connected to an open position or a pending order. They can be requested only together with a market or a pending order. Terminal checks long positions with Bid price for meeting of this order provisions (the order is always set below the current Bid price), and it does with Ask price for short positions (the order is always set above the current Ask price).

Rules of Stop Loss and Take Profit Inheritance:

§ When increasing position volume or reverting the position, Take Profit and Stop Loss levels are placed according to its latest order (market or triggered pending order). In other words, stop levels in each subsequent order of the same position replace previous ones. If zero values are specified in the order, Stop Loss and Take Profit of a position will be deleted.

§ If a position is partially closed, Stop Loss and Take Profit are not changed by the new order.

§ If a position is fully closed, the Stop Loss and Take Profit levels are deleted, because they are associated with an open position and cannot exist without it.

§ If a trade operation is executed for a symbol, for which there is a position, the current Stop Loss and Take Profit of the open position are automatically inserted in the order placing window. This is aimed to prevent accidental deletion of current stop orders.

§ During one click trading operation (from a panel on the chart or from the Market Watch) for the symbol, for which there is a position, the current values of Stop Loss and Take Profit are not changed.

§ On the OTC markets (Forex, CFD, Futures), when a position is moved to the next trading day (the swap), including through re-opening, the levels of Stop Loss and Take Profit are remain unchanged.

§ On the exchange market, when a position is moved to the next trading day (the swap), as well as when moved to another account or during delivery, the levels of Stop Loss and Take Profit are reset.

An order letter is usually written when a company purchases or buys or orders goods or services from another party. An order letter can also be written by an individual who would like to buy or purchase goods or services. Here is an Order Letter you might need when you order goods, materials and services. Do not forget to clearly state the exact name of the merchandise, the price, and the amount of payment being sent.

Otherwise known as an order letter, a letter of order is a document that confirms the details of a purchase of goods or services from one party to another. It usually includes more information about what you are ordering, like quantity, model number, or color, the payment terms, and the matter in which the products are to be shipped. When the recipient receives this letter, they will process the order and send the merchandise.