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This order type allows for a range of the stop-loss. For example, a trigger price of ?105 and a price of ?105.10 can be set. When the trigger price of ?105 is reached, a buy limit order is sent to the exchange, and the order is squared off at the next available offer below ?105.10.
To place a buy limit order, you will first need to determine your limit price for the security you want to buy. The limit price is the maximum amount you are willing to pay to buy the security. If your order is triggered, it will be filled at your limit price or lower.
stop order is a type of stoploss order that protects short positions; it is set above the current market price and is triggered if the price rises above that level. Stoplimit orders are a type of stoploss, but at the stop price, the order becomes a limit order?only executing at the limit price or better.
Stop-loss orders execute a market order when triggered, and execution of the contract is guaranteed when the stop-loss price is met. Stop-limit orders execute a limit order when the initial stop-loss order is triggered, providing investors more control over execution price.
For example, if the last traded price is $15, you set the trail to $1 and the STP to $13 and the limit to $12.50, 50 cents below the stop price, the stock then rises to $17 your new STP price will be $16, and the order will be triggered if the stock price falls to $16 with a limit price of $15.50.