A Hard Stop is more of a concept than an actual order type. A hard stop presumes a price level that, if reached, will decisively trigger an order to sell an underlying security. In other words, it's a predetermined point at which you'll automatically execute your desired trade.This can be helpful in limiting losses or ensuring gains, but it's important to note that market conditions may not always behave as expected. So before implementing any hard stops in your trading plan, make sure you understand the risks involved and are comfortable with the potential consequences.
