Stop, Trailing Stop and Limit Orders

Stop/Limit

Unlike Entry Stop and Entry Limit orders, conventional Stop and Limit orders are aimed at closing existing positions when a certain price is reached.

In the Open Positions window, left-click on the “Stop” or “Limit” field of the desired open position. Alternatively you can right-click on the desired open position in the Open Positions window and choose Stop or Limit from the pop-up menu. The dialog box will appear:

Enter the desired rate and press OK.

Note: You can also configure the order by editing the "Distance in pips" and "Projected PL" boxes.

The Stop/Limit will be shown in the Orders window in the T (order type) column.

It will also be shown in the Open Positions window in the Stop or Limit column.

Stops and Limits can also be set for existing Entry Orders. This means that whenever an Entry Order is executed, the resulting open position will have a preset Stop/Limit order.

Right-click on the existing ES/EL order in the Orders window and choose Stop or Limit from the pop-up menu. The dialog box will appear:

Enter the desired rate and press OK.

The Stop/Limit will be shown in the Orders window:

Trailing Stop

The Trailing Stop works as follows: If the market price moves UP for a Buy position/DOWN for a Sell position, then the Trailing Stop moves with the market price, following it at the pre-set distance. If the market price moves DOWN for a Buy position/UP for a Sell position, then the Trailing Stop remains fixed and, if the market price reaches the Trailing Stop price, the order will be executed.

Right-click on the desired open position in the Open Positions window or on the existing ES/EL order in the Orders Window and choose Trailing Stop from the pop-up menu. The dialog box will appear:

To set the Trailing Stop Distance check the “Set Trailing Stop Distance” check box in the “Stop Order” dialog box and enter the distance value in pips. Press OK. The Trailing Stop Distance value will appear in the “Tr.Stop” field of the position record and a Trailing Stop Order will appear in the Orders window.

Remove non-triggered Orders

Right-click on the desired order in the Orders window and select Remove from the pop-up menu.