Stop Losses and Limit Orders

SETTING YOUR STOP OR LIMIT

You can place a stop or a limit order by filling in the 'Stop' or 'Limit' fields after you have opened the trade ticket.

The minimum level at which you can place your stop or limit will also be shown.

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USING GUARANTEED STOPS 

To place a Guaranteed Stop check the 'Guaranteed Stop' tick box. A Guaranteed Stop means you will always be stopped out at that level, unlike a regular stop which can be vulnerable to gapping in times of high market volatility.

You will have to pay a small premium to guarantee your stop, which is shown by the 'Extra spread' amount. Note, you can only place a Guaranteed Stop at the time of placing your trade - you cannot add a Guaranteed Stop at a later time.

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EDITING YOUR ORDERS

To add a stop or limit to an existing position, or to amend a stop or limit, click 'Open Positions' at the bottom of the left-hand menu, then click the 'Edit' button next to the trade you wish to edit.

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SUBMITTING YOUR ORDER

You can then either add a stop or a limit to a position without any stops or limits attached or amend an existing stop or limit level.

Hit 'Submit Request' to activate the new stop or limit levels

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Quiz Questions

Question 1

What is the primary purpose of setting a stop-loss order in trading?

Correct - The answer is c. To limit potential losses by triggering a stop at a specified price

By setting a stop loss you can predetermine the capital you’re willing to risk on the trade

Incorrect - Please try again.

Question 2

Which statement from the following is true about guaranteed stops?

Correct - The answer is b. A small premium is added to the spread when placing a guaranteed stop.

The premium is incorporated into the spread when placing the trade, hence it cannot be added after a trade has been executed.

 

 

Incorrect - Please try again.

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