Wheel

Order

Market Buy or Sell

Volume

set at the check

Take profit

set at the check

You could lose more than the max loss. The max loss covers the stop, plus an allowance in case the price slips or the spread widens. But in a fast market, or if the price jumps, the stop can be filled further away, so a loss can be larger. Opening a trade costs the spread (the gap between the buy and sell prices), so it starts slightly behind; the cost shown is an estimate at the current price.