Invest Responsibly

Stop Loss (SL) serves as an order that acts as a safeguard against excessive losses and aids in managing trade risks. It is essentially a predefined price level represented by a straight line. If the market price moves against your position and touches the Stop Loss level, the order will be executed, automatically closing the position.

Take Profit, on the other hand, is an order designed to automatically secure your trading profits when the price reaches a predetermined level.

To set these orders, consider the following guidelines: When initiating a long position, set the Take Profit above the current market price. Conversely, for a sell position, position the Take Profit below the current price. Typically, the Take Profit level is established at a distance twice as far from the opening price as the Stop Loss.

It's crucial to note that while Stop Loss and Take Profit orders are valuable risk management tools, they don't guarantee execution at the specified price. In cases of rapid and intense market movements, the price may surpass the set levels. However, you always have the option to manually close a trade by clicking the Close button.

Once a position is closed, the resulting net profit or loss will be promptly reflected in your trading account balance.

Open the Economic Calendar at IC Markets and locate news events marked with two or three exclamation marks. These events will be displayed in the rightmost column, indicating the publication time, the name of the indicator, its description, the previous value, and the predicted value.

Around 15 minutes before the actual indicator value is released on the calendar, it's possible to witness significant and unpredictable price movements on the currency pair chart.

For novice traders, paying attention to the variance between the actual value and the forecast can serve as a valuable starting point for comprehending market behavior during data releases.

Stop Out is an automatic closure of all your positions when your trading account balance falls below the margin protection level. It's important to note that predicting asset price behavior can be challenging, so it's generally not advised to leave positions open over the weekend, unless you're prepared to potentially encounter an unexpected Stop Out.