Forex has got many tools and one of the most significant of them is the leveraging tool which helps in the reduction of risks. One can either exercises the stop loss order or can even take the profit order to close position in Forex as and when the Forex price reaches a certain value.
The stop loss order actually helps guarding from further losses and at the same time take profit will help maximizing the profit of the decision. The OCO order actually helps canceling one with the other when the other is closed. An if-done order helps placing another order after closing the other position.