What is a Limit + Take Profit/Stop Loss Order?

Clients can create a combination of a primary limit order with a limit sub-order (for take profit) and a stop sub-order (for stop loss). When the primary order is filled, the sub-orders will be triggered. When one sub-order is partially or fully filled, the other is automatically cancelled.

1. Example:

Assuming the current market price of a stock is $100, the client wants to buy stock, ABC with a Limit order while setting a Stop price at $95 and a Take Profit Limit price at $105.

The client can set the primary order as a limit buy order for $100 for stock ABC and set sub-order A as a Stop order trigger at $95 and sub-order B as a Take Profit Limit order at $105.

When the market price falls and reaches $95, sub-order A is triggered, and the system will sell the held stock ABC at the market price, automatically cancelling another sub-order B.

On the other hand, if the market price rises and reaches $105, sub-order B (Take Profit Limit order) is executed, and the system will sell the held stock ABC at the specified limit price, automatically cancelling another sub-order.

2. Order Time

Orders can be placed at any time on the client’s side.

3. Order Duration

Clients can choose whether their orders are valid only on the day of the order or Good-Til-Cancelled (GTC). If an order is not fully executed within the specified period, the system will automatically cancel the order.

If an order fails during the execution process due to risk control measures, company actions, or other reasons, the order status will be updated to cancel, and the system will no longer continue to submit the order.

4. Trigger Time

The trading session for the primary order can be set as "Include Extended Hours" or "Only Regular Hours ". After the conditions are triggered, the system will automatically submit the default order to the market. The trading session for sub-orders is “Only Regular Hours ".

5. Explanation and Notes

1. Limit + Take Profit/Stop Loss Order only supports the same security.

2. The orders are limited to US securities.

3. After the order is triggered, there is no guarantee of execution.

4. After the order is triggered, whether the corresponding order is executed or not, the order trigger conditions will not be activated again. If needed, please place a new order.

5. If the order is for position closure and the order quantity is more than the position at the time of triggering, the order will not be executed.

6. The orders will only be triggered within the allowed trading session.

7. The Time-in-Force of all primary orders and sub-orders must be consistent.

8. If the number of pending trigger orders is equal to or greater than 50 orders, no further advanced orders can be placed.