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==Stop Loss==
===Appearance ===
===Applying Stop Loss Exit Strategy===
===Stop Loss Parameters===
===Auto Attach===
===Saving as Template===
[[File:StopLossInChart.png|thumb|right|Stop Loss Order on the chart]]
[[File:StopLossInDOM.png|thumb|right|Stop Loss Order in the DOM window]]
Stop order specifies a price at which to buy or sell. It is called a Stop Loss because it is used to define how much loss is tolerable before a position will be exited. When the specified price is reached the order becomes a market order, and the broker executes the order.
Stop Loss Strategy is displayed as maroon marker on the chart connected to the order price label on the price scale with a dotted line and as maroon marker in the DOM window.
<div style="background-color: #E3FBE5;">Note: When Stop Loss is auto attached to an order and '''has not been triggered yet''', inactive orders are indicated as semi-transparent. </div>
Apply Stop Loss Exit Strategy to an active order or open position by one of the following methods:
# Drag-and-drop the Stop Loss icon http[[File://www.multicharts.com/img/wiki/strategies/26STLSS.png ]] to an active order or open position '''on the chart'''; or:# Drag-and-drop the Stop Loss icon http[[File://www.multicharts.com/img/wiki/strategies/26STLSS.png ]] to an active order or open position on the '''DOM window'''; or:
# Right-click on the active order or open position '''on the chart''' to see the shortcut menu, select '''Attach Exit Strategy''' and click '''Stop Loss'''; or:
# Right-click on the active order or open position in the '''DOM window''' to see the shortcut menu, select '''Attach Exit Strategy''' and click '''Stop Loss'''; or
# Right-click on the Stop Loss icon http[[File://www.multicharts.com/img/wiki/strategies/26STLSS.png ]] in the '''Exit Strategy''' menu to see the shortcut menu and check '''Apply To Open Position'''.
To modify default Stop Loss Parameters:
# Right-click the Stop Loss icon http[[File://www.multicharts.com/img/wiki/strategies/26STLSS.png ]] in '''Exit Strategy''' menu to see the shortcut menu.
# Click '''Edit…'''
# Modify amount of loss in the '''Amount of Loss''' box.
'''Amount of Loss''' can be set as a fixed price or an offset indicated as ticks or %. * To change indication type, click set the Stop Loss at a fixed price level:*# Click the '''N/A''' button [[File:N_A button.png]] to activate the price input field (if it is unavailable);*# Enter the price for a Stop Loss order;* Click the '''Save''' button to save the settings. * To set the amount of Stop Loss at a fixed offset:*# Click the '''N/A''' button [[File:N_A button.png]] to activate the offset input field (if it is unavailable); *# Click the '''Tick/Percent''' button [[File:Tick button.png]]/[[File:Percent button. png]]to select the offset type; *# Enter the offset value;*# Click the '''Save''' button to save the settings. <br><div style="background-color: #E3FBE5;">Note: In real-time trading Stop loss values are based on the average entry price provided by the broker ((execution price + commission) / position size). Some brokers may not include the commission. If the price does not conform to the minimum price variation Stop loss value is rounded down.</div>
Click '''More Parameters >>''' to show '''Time In Force''' field (for more info see [[Chart Trading#Setting Time in Force|Time in Force]] section).
To save custom parameters, click '''Save'''.
Auto Attach Stop Loss Exit Strategy to orders by one of the following methods:
* Right-click the Stop Loss icon http[[File://www.multicharts.com/img/wiki/strategies/26STLSS.png ]] in the '''Exit Strategy''' menu to see the shortcut menu, then check '''Auto Attach to Orders'''; or:* Double-click the Stop Loss icon http[[File://www.multicharts.com/img/wiki/strategies/26STLSS.png ]] in the '''Exit Strategy menu'''; or:
* Enable '''Auto Attach to Orders''' feature in the '''Place Strategy''' window when applying the strategy.
To re-enable auto attach feature click '''Auto Apply'''.
# Open '''Strategy Parameters''' window by one of the following methods:
#* Right-click the Stop Loss icon http[[File://www.multicharts.com/img/wiki/strategies/26STLSS.png ]] in the '''Exit Strategy''' menu to see the shortcut menu, then click '''Save as Template'''; or:
#* Click on the '''Save as Template''' button in the '''Place Strategy''' window when applying the strategy.
# Modify default Stop Loss parameters.
