1. What is a Normal Stop Loss?
A Normal Stop Loss is a risk management feature that allows you to minimize your risk by specifying an exact percentage (in loss) that you want TigerBot to close out your trades at. For example, if you enable a Normal Stop Loss at 5%, it means that you are telling TigerBot to close all your trades as soon as they hit a 5% loss. This will guard your trades from any loss greater than the percentage that you specify.
2. How to Enable a Normal Stop Loss
To enable a Normal Stop Loss, load the Inputs Window on your current TigerBot solution, and then click on the drop down box titled “Stop Loss” until you see all the available Stop Loss options listed. Then, select the option titled “Normal Stop Loss” from the list.
3. How to Specify a Normal Stop Loss Target
To specify your target loss percentage, simply type a number in the text box titled “Stop Loss % (For Normal and Trailing Stops)” that represents what percent (in loss) you want TigerBot to close all trades at. The below example shows a Normal Stop Loss enabled and specified for a 10% close on all trades.
4. What a Properly Configured Normal Stop Loss Looks Like
After you configure your Normal Stop Loss, select the “OK” button at the bottom of the inputs window, and allow a few seconds for the chart to update, you should see a clear, thick orange line at the border of every Loss Zone that designates when each trade closes.