Stop-market and Stop-limit orders are conditional orders and are executed when the market price of an asset reaches the set price value. This kind of orders are used to reduce the losses for the position or to open a position when the goal price is reached.
Stop-market order: When a stop-market order is executed, the broker opens a Market order with the set volume.
Stop-limit order: When a stop-limit order is executed, the broker opens a Limit order with the set volume at the set price.
All your stop-position orders are kept at the broker and are executed when the certain price level is reached. When that happens, the broker will open a Market order or a Limit order, depending on the type of your stop-order, in the order book. Stop-orders are not displayed in the order book.
How to place a Stop-market order and a Stop-limit order:
1. Choose a currency pair from the Instruments List on the left part of the screen;
2. At the Order Panel on the lower right corner of the screen, choose BUY or SELL depending on what you want;
3. Choose the order Type - Stop-market or Stop-limit;
4. In the 'If price' field, set the stop-price at which the order will be executed.
Be careful to not set a stop-order with the conditions that are already being met;
5. Set the price in the Price field and the volume that you want to buy or sell in the Amount field. For the stop-market order, the Price window is locked and the order will be executed for the market price at the moment of execution;
6. The Value&fee window will automatically calculate the amount of the base currency, including the fees;
For Stop-limit orders, you can also do the opposite - enter the amount that you want to spent on this deal in the Value&fee field, and it will automatically calculate the amount of the base currency in the Amount field.
7. Press the Place Order button.