Differences
This shows you the differences between two versions of the page.
| Next revision | Previous revision | ||
| desktop:desktop_stop_market_order [2023/12/27 14:14] – created rob | desktop:desktop_stop_market_order [2025/07/25 15:34] (current) – external edit 127.0.0.1 | ||
|---|---|---|---|
| Line 1: | Line 1: | ||
| ====== Stop Market ====== | ====== Stop Market ====== | ||
| + | Stop orders are submitted on the opposite side of the market than normal Limit orders. A **buy stop order** is submitted at a price higher than the current best bid but does not fill until that price trades. A **sell stop order** is submitted at a price lower than the current best offer price. | ||
| + | Note that if the market is moving rapidly, you may get filled at a worse price than the one you entered. If you want to prevent this by setting a limit price for the stop, you can do so with the **Order Ticket**. | ||
| + | |||
| + | Stops are useful as **loss limits**, allowing you to automatically close out a position if the market moves against you. | ||
| + | |||
| + | ===== Submitting a Stop Market Order ===== | ||
| + | |||
| + | * **Set a volume greater than zero** by tapping the volume box to bring up the number picker. | ||
| + | * **Set the Stop Market order toggle**: | ||
| + | * Tap the order toolbar. | ||
| + | * Then tap on the **S**. | ||
| + | * The **S** will change from black to orange, indicating the next order submitted will be a stop market order. | ||
| + | |||
| + | {{: | ||
| + | ===== Placing Stop Orders ===== | ||
| + | |||
| + | ==== Buy Stop ==== | ||
| + | * Tap in the **Bid** column above the current market. | ||
| + | * Once submitted, you can long-press and hold the order in the **MYB** column, then drag and drop to revise the order. | ||
| + | |||
| + | ==== Sell Stop ==== | ||
| + | * Tap in the **Offer** column below the current market. | ||
| + | * Once submitted, you can long-press and hold the order in the **MYO** column, then drag and drop to revise the order. | ||