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What is a stop loss order?

A stop loss order is an order to close a position when the price of an asset reaches the price level set by the investor.

The price set by the investor must be lower than the last price.
The stop loss order protects the investor because if the asset reaches this price, a market order is executed.
However, since it is a market order that is executed, this means that the order can be executed at a lower price than the one that was set.

The stop loss functionality is not yet available on Paymium.

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