Terminology

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New Order
New Order (Order, Position) opens a new position for either long or short positions. Both market and limit orders are available.
Close Order
It is the execution of the opposite position order in the order you have (contract, position), and is the end of the contract. Close order occurs when you run Stop-loss / Take-Profit for an order you have (contract, position) or a Close order execution.
Stop Loss
Stop-loss is designed to limit an investor's loss on a security position. It is an order placed to buy / sell once the stock reaches a certain price.
Take Profit
Triggers a limit order buy / sell when the market price reaches the profit price.
Trailing stop
Trailing stop is an order to close out existing positions to secure certain amount of profits/losses in a favourable condition. Trailing stops automatically adjust to the current market price of a market instrument, providing the investor with greater flexibility to profit, or limit a loss.