Stop loss orders are a key component of a risk management strategy in trading. They allow traders to limit their potential losses on a trade. Here's how to use stop loss orders:

1. Determine the risk - Calculate the maximum amount of loss you are willing to accept on a trade.

2. Place the stop loss order - Specify the price at which you want your trade to be automatically closed in case of a loss. This is typically done at a price level that is below the current market price.

3. Monitor your position - Continuously monitor your trade and adjust your stop loss order as needed. For example, if the price of your security moves in your favor, you can adjust the stop loss to lock in more profit.

4. Be mindful of slippage - Stop loss orders do not guarantee the exact price at which your trade will be executed. In fast-moving markets, there can be a difference between the stop loss price and the actual execution price, known as slippage.

5. Consider your strategy - Stop loss orders can be used in conjunction with various trading strategies, such as swing trading or day trading.

By using stop loss orders, you can limit your potential losses and protect your capital. However, it's important to remember that stop loss orders do not guarantee profits and they should be used in conjunction with a well-thought-out trading plan.