Trigger Price: The price at which your stop loss order becomes active. Limit Price (for SL orders): The price at which you want the order to be executed once triggered.

Stop Loss Market (SL-M): Converts to a market order when triggered. Stop Loss Limit (SL): Converts to a limit order at the trigger price. Risk: It may not be executed…

It helps to: Limit potential losses in volatile markets. Enforce trading discipline. Reduce emotional decision-making during market fluctuations.