Stop loss

MetaTrader 5 says a stop loss is there to limit the loss if the price moves the wrong way, and that it closes the entire position. It can be sent only together with a market or pending order, or attached to an open position. On a long it is set below the Bid and checked on the Bid. On a short it is set above the Ask and checked on the Ask. If the closing deal cannot be executed, the stop is not deleted. It is tested again on the next tick that meets the condition. On exchange symbols the trigger may be the last price, while the buy or sell still uses Bid or Ask. A stop loss is not a guarantee of the trigger price.