Stop orders: varieties and their use

Stop orders are an important tool in a trader's arsenal, allowing them to minimize risks and automate trading. There are several types of stop orders: stop-loss, stop-profit, and trailing-stop. A stop-loss is used to limit losses by automatically closing a position when a set level is reached. A stop-profit helps lock in profits by moving the order into the "profit zone" when the price reaches the required level. A trailing-stop allows dynamic adjustment of the stop level depending on price movement, locking in profits under favorable conditions. Correct use of stop orders increases trading efficiency and helps avoid unpredictable losses.