Stop Limit Order: Difference between revisions
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[[File:STL_orders_on_the_chart.PNG|thumb|right|Stop Limit Orders on the chart]] | [[File:STL_orders_on_the_chart.PNG|thumb|right|Stop Limit Orders on the chart]] | ||
[[File:STL orders in the DOM window.png|thumb|right|Stop Limit Orders in the DOM window]] | [[File:STL orders in the DOM window.png|thumb|right|Stop Limit Orders in the DOM window]] | ||
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Stop Limit Order combines the features of stop order with those of a limit order. A stop-limit order will buy or sell a set number of shares at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better. | Stop Limit Order combines the features of stop order with those of a limit order. A stop-limit order will buy or sell a set number of shares at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better. | ||
==Appearance== | |||
For the '''chart window''', default Stop Limit Order marker color and connecting line length can be modified in [[Chart Trading#Appearance|Format Chart Trading]] menu. | For the '''chart window''', default Stop Limit Order marker color and connecting line length can be modified in [[Chart Trading#Appearance|Format Chart Trading]] menu. | ||
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For the '''DOM window''', default Stop Limit Order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu. | For the '''DOM window''', default Stop Limit Order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu. | ||
==Creating Stop Limit Order== | |||
Create Stop Limit order by one of the following methods: | Create Stop Limit order by one of the following methods: | ||
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<div style="background-color: #E3FBE5;">Note: Chart is context-sensitive and allows creating Buy or Sell orders depending on the price level at which you click on the chart. If you right-click above current price level, Buy Stop Limit option will be available in the shortcut menu. If you right-click below current price level, Sell Stop Limit option will be available in the shortcut menu. Right-clicking on the current price level makes both Buy Stop Limit and Sell Stop Limit options available. </div> | <div style="background-color: #E3FBE5;">Note: Chart is context-sensitive and allows creating Buy or Sell orders depending on the price level at which you click on the chart. If you right-click above current price level, Buy Stop Limit option will be available in the shortcut menu. If you right-click below current price level, Sell Stop Limit option will be available in the shortcut menu. Right-clicking on the current price level makes both Buy Stop Limit and Sell Stop Limit options available. </div> | ||
==Stop Limit Order Parameters== | |||
Order Size is defined by '''Qty''' field (see [[Chart Trading##Setting Order Quantity|Setting Order Quantity]]). | Order Size is defined by '''Qty''' field (see [[Chart Trading##Setting Order Quantity|Setting Order Quantity]]). | ||
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<div style="background-color: #E3FBE5;">Note: When Require Order confirmation option is disabled no confirmation window will appear and '''Limit Price''' will be based on '''Stop Limit Offset''' set in [[Chart Trading#Order Modification|Format Chart Trading]] menu. '''Stop Limit offset''' value is set to 1 tick by default.</div> | <div style="background-color: #E3FBE5;">Note: When Require Order confirmation option is disabled no confirmation window will appear and '''Limit Price''' will be based on '''Stop Limit Offset''' set in [[Chart Trading#Order Modification|Format Chart Trading]] menu. '''Stop Limit offset''' value is set to 1 tick by default.</div> | ||
==Modification of Stop Limit Order offset== | |||
'''To modify Stop Limit offset on the chart:''' | '''To modify Stop Limit offset on the chart:''' |