Use stop-loss

Stop loss is a very important option when trading on the market, because with this option the trader sets a quotation below (a buy order) or higher (a warrant for selling) which he is not ready to lose means.

For example: You placed an order to buy GBPUSD (quote 1.38100) and you place a stop loss 50 points lower, for example, 1.38050, which means that if the quotation reaches the stop loss level, the deal will automatically close and you do not have to worry that you are distracted and did not follow for the schedule. Thus, with the help of a stop loss, a trader can pre-set how much he is willing to lose in a single transaction.

There are two ways how you can set a stop loss.

On the chart. Hover over the green line of the transaction and move the red line to the desired indicator