Online foreign currencies exchange has several advantages. This is one place where you can keep the maximum profit that you earn in a trading day all for yourselves. The kind of taxes that is applicable for the income that you made of the forex market is only taxable for short gains and not really huge. The kind of taxes that you will be paying for the forex trade is going to be less when compared to the income that you might make from the stock market. Stop loss order is one important method that you should use in your online forex trade process to keep your trade out of loss most of the time. You are going to be sure of the price you spent to purchase a particular currency. So, you are going to be sure of what is your tolerable risk level. You will want some profit and when the trends are down going you will not in anyway like to get less than what you paid for this. Without being over greedy or a give up kind of trader you can set the limits for stopping your loss in the trade.When you are selling you got to also remember that you will be paying your taxes. So, the kind of profit that you make should be enough to cover up for the taxes and it should leave you with something. So, when you are planning your stop loss order you have to include the tax percentage applicable on the profits and decide on the exit levels to go short in the currency that you are dealing with.