What is stop level.
Its a limit from broker on pairs for Stop Loss distance i.e you can not set stop loss less then 20 points or 2 pips and this limit can be vary on all pairs. Mostly brokers don't have this limit.
Stop out Level
This is also a limit from broker i.e stop out level 40% means when your trade will reach 40% DD automatically broker will close your trade here need to understand 40% means individual trade not all trades.
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