This is a group of orders to brokers, which includes those where the deal closes in the plus (take profit - see), those where losses are limited (stop-loss - see), as well as a variety of limit orders (see), so it's the instructions to a broker to open your deal at a certain price. In any case, you do not have to sit in front of a monitor in anticipation of the desired level. You just need to reach the level of "limit order". As soon as the price reaches the level that you have specified, the deal opens automatically.
Trading in financial markets involves substantial risks, including complete possible loss of investment capital. This activity is not suitable for all investors. High leverage increases the risk (Risk Disclosure).