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Created page with "thumb|right|Stop Orders on the chart thumb|right|Stop Orders in the DOM window A Stop Order will bu..."
[[Image:Stop orders on the chart.png|thumb|right|Stop Orders on the chart]]
[[Image:Stop orders in the DOM.png|thumb|right|Stop Orders in the DOM window]]
A Stop Order will buy or sell a security when its price surpasses a particular level defined by the trader, thus ensuring a greater probability of achieving a predetermined entry or exit price. Stop order becomes a market order when the price reaches the predefined level.
===Appearance===
Stop Order is displayed as sienna marker on the chart connected to the order price label on the price scale with a dotted line and as sienna marker in the DOM window.
For the chart window, default Stop Order marker color and connecting line length can be modified in [[Chart Trading#Appearance|Format Chart Trading]] menu.
For the DOM window, default Stop Order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu.
===Creating Stop Order===
To create Stop Order:
* Drag-and-drop the Stop Order icon http://www.multicharts.com/img/wiki/strategies/3.png; or:
* Right-click at the desired price level to see the shortcut menu, select '''Place Order''' and then click '''Buy / Sell Stop…'''; or:
* Right-click the Stop Order icon http://www.multicharts.com/img/wiki/strategies/3.png in the Place Order menu to see the shortcut menu and click '''Apply Strategy''' ('''Buy Stop''' order at Ask price will be created).
* Double-click the Stop Order icon http://www.multicharts.com/img/wiki/strategies/3.png in the Place Order menu ('''Buy Stop''' order at Ask price will be created).
<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 option will be available in the shortcut menu. If you right-click below current price level, Sell Stop option will be available in the shortcut menu. Right-clicking on the current price level makes both Buy Stop and Sell Stop options available. </div>
===Stop Order Parameters===
Order Size is defined by '''Qty''' field (see [[Chart Trading##Setting Order Quantity|Setting Order Quantity]]).
Time In Force (TIF) is defined in '''Time In Force''' field (see [[Chart Trading#Setting Time in Force|Setting Time in Force]])
When placing Stop order the '''Place Order''' confirmation window appears.
Click '''Yes''' to create the order or '''Cancel''' to abort the operation.
Check the '''Do not ask me again''' check box to disable '''Place Order confirmation''' window.
<div style="background-color: #E3FBE5;">Note: When Require Order confirmation option is disabled no confirmation window will appear.</div>
[[Image:Stop orders in the DOM.png|thumb|right|Stop Orders in the DOM window]]
A Stop Order will buy or sell a security when its price surpasses a particular level defined by the trader, thus ensuring a greater probability of achieving a predetermined entry or exit price. Stop order becomes a market order when the price reaches the predefined level.
===Appearance===
Stop Order is displayed as sienna marker on the chart connected to the order price label on the price scale with a dotted line and as sienna marker in the DOM window.
For the chart window, default Stop Order marker color and connecting line length can be modified in [[Chart Trading#Appearance|Format Chart Trading]] menu.
For the DOM window, default Stop Order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu.
===Creating Stop Order===
To create Stop Order:
* Drag-and-drop the Stop Order icon http://www.multicharts.com/img/wiki/strategies/3.png; or:
* Right-click at the desired price level to see the shortcut menu, select '''Place Order''' and then click '''Buy / Sell Stop…'''; or:
* Right-click the Stop Order icon http://www.multicharts.com/img/wiki/strategies/3.png in the Place Order menu to see the shortcut menu and click '''Apply Strategy''' ('''Buy Stop''' order at Ask price will be created).
* Double-click the Stop Order icon http://www.multicharts.com/img/wiki/strategies/3.png in the Place Order menu ('''Buy Stop''' order at Ask price will be created).
<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 option will be available in the shortcut menu. If you right-click below current price level, Sell Stop option will be available in the shortcut menu. Right-clicking on the current price level makes both Buy Stop and Sell Stop options available. </div>
===Stop Order Parameters===
Order Size is defined by '''Qty''' field (see [[Chart Trading##Setting Order Quantity|Setting Order Quantity]]).
Time In Force (TIF) is defined in '''Time In Force''' field (see [[Chart Trading#Setting Time in Force|Setting Time in Force]])
When placing Stop order the '''Place Order''' confirmation window appears.
Click '''Yes''' to create the order or '''Cancel''' to abort the operation.
Check the '''Do not ask me again''' check box to disable '''Place Order confirmation''' window.
<div style="background-color: #E3FBE5;">Note: When Require Order confirmation option is disabled no confirmation window will appear.</div>