Forex is a risky market area and due to high volatility and uncertainty here a trader has to undergo dynamic environment. So it is imperative for the traders to utilize the facilities of risk management techniques to minimize unwanted risks. Stop loss or trail stop are basically limit orders where in the former one a traders specifies a limit price not allowing price movements in the market and the later one is a stop loss order that allows the orders to move with the price changes and thereby maximizing the profit.