STOP LIMIT ORDERS
STOP LIMIT ORDERS
18 Aug 2022, 16:01
Hi. I have been trying to submit BUY/SELL STOP LIMIT orders and having read the help pages and tried placing several orders on the demo, I cant seem to get it to function correctly. Ctrader just performs a normal STOP order as opposed to only triggering once a certain price has been hit.
For eg, I want to place a BUY STOP LIMIT on GBPUSD at 1.2047 but only once price has gone at least 15 pips passed the entry (1.20621)
The market is just submitting Buy Stop orders in this case. I have adjusted the Limit range to 15 pips but this has not been functioning correctly. This is the only extra field which appears in the order section as opposed to standard orders.
Please advise me on how I can correctly use the STOP LIMIT ORDERS.
Thank you
Replies
Enivid
21 Sep 2022, 12:17
RE:
But Investopedia's definition is a mess. The one by the SEC is much more concise:
A stop-limit order is an order to buy or sell a stock that combines the features of a stop order and a limit order. Once the stop price is reached, a stop-limit order becomes a limit order that will be executed at a specified price (or better).
The current form of the Stop Limit order in cTrader is nothing like that. It's more or less a Stop order with a deviation/slippage parameter attached to it.
@Enivid
PanagiotisCharalampous
21 Sep 2022, 12:36
Hi ahmedalihajat,
Because I have been through this excersice before, most of the definitions and platform implementations out there agree with Investopedia. SEC is just vague and can be interpreted in many ways. MT4/MT5 implemented this differently hence why many traders are confused.
Best Regards,
Panagiotis
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PanagiotisCharalampous
19 Aug 2022, 08:08
Hi ahmedalihajat,
This is not how stop limit orders work. You can read here an explanation of stop limit orders.
Best Regards,
Panagiotis
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