Uploaded December 2019 | Updated September 2026, 25 minutes ago
It is difficult to be a good trader without a firm grasp on the various types of orders which exist to optimize your experience: stop-loss orders, take-profit orders, trailing stops and so on.
Why should you use them?
As explained in this video, there are instances in which you won't be able to remain glued to your screen permanently and as such, stop-loss orders for example can make the difference between getting out of a trade that didn't go your way quickly and perhaps being liquidated.
The same way, take-profit orders are great for situations where you cannot be on alert 24/7 so as to try to "time" the top perfectly.
From definition to examples, this video explains everything you need to know about anything from simple tools such as stop-loss and take-profit orders to more complex ones such as trailing stops.
Do you have to use them?
Of course not, but even if you don't believe in let's say the idea of automating your trading and prefer an "old school" approach, it's still good to know your way around stops and other order types for extreme situations where you don't have a choice but to use them. Fair enough?
It is difficult to be a good trader without a firm grasp on the various types of orders which exist to optimize your experience: stop-loss orders, take-profit orders, trailing stops and so on.
Why should you use them?
As explained in this video, there are instances in which you won't be able to remain glued to your screen permanently and as such, stop-loss orders for example can make the difference between getting out of a trade that didn't go your way quickly and perhaps being liquidated.
The same way, take-profit orders are great for situations where you cannot be on alert 24/7 so as to try to "time" the top perfectly.
From definition to examples, this video explains everything you need to know about anything from simple tools such as stop-loss and take-profit orders to more complex ones such as trailing stops.
Do you have to use them?
Of course not, but even if you don't believe in let's say the idea of automating your trading and prefer an "old school" approach, it's still good to know your way around stops and other order types for extreme situations where you don't have a choice but to use them. Fair enough?
