Stop/Limit (Net) Order

Brief

Stop/limit (net) order is an order to close all positions for a symbol when the market price reaches the price specified in the order.

Details

A Stop/Limit (Net) Order (net position stop/limit order) is an order to close all positions for a symbol when the market price reaches the price specified in the order.

There can be two types of stop/limit (net) orders: Limit (Net) and Stop (Net).

• A Limit (Net) order is an order to close all positions for a symbol at a specified price to lock in the profit if the market price moves to your advantage.
• A Stop (Net) order is an order to close all positions for a symbol at a specified price to prevent further losses if the market price moves to your disadvantage.
  For example, you open several positions in EUR/USD totaling 100,000 units with an average entry price of 1.47927. You want the positions to close automatically if EUR/USD moves 100 pips against you. So, you set a stop (net) order at 1.46927. This stop applies to all open positions in EUR/USD on your account.
  A Stop (net) order can be trailing. Trailing stop (net) orders are used for locking in the profit if the market price moves to your advantage. The order price automatically follows the movement of the market price by a trailing step each time the market moves to your advantage.

How to create a stop/limit (net) order.