Stop/Limit Order

Brief

The article describe a stop/limit order and explains how it works.

Details

A stop/limit order is an order to close a position when the market price hits the price specified in the order. Stop/limit orders can be added to a position or to an entry order. The functions of the orders are as follows:

• Limit order is an order to close a position at a specified price to lock in the profit if the market price moves to your advantage.
• Stop order is an order to close a position at a specified price to prevent further losses if the market price moves to your disadvantage.

Note that a Stop order can be made trailing.

For more information, see Add Stop/Limit Order to Position and Add Stop/Limit Order to Entry Order.