Stop Loss Tool and Manual Stop Loss
The stop loss tool is designed to be used as a safeguard against a trade moving against you. You can set it as many ticks below the current price as you like. You can have it activate automatically on every trade you place or you can use it manually as and when required.
We would not highly recommend using it in running on horses as the price can drop so fast the stop can be activated and not matched if the price drops too quickly. It can crash right through the stop if someone offers to back the horse at a lower price than your stop was submitted. Use with caution! But it certainly can catch some very nice price swings that would never be caught manually.