Basically, a Stop-Limit order combines a Stop-Loss order with a Limit Order. To place a Stop-Limit order, you enter two prices: a Stop Price and a Limit Price. The stop price is simply the price that triggers a limit order, and the limit price is the specific price of the limit order that was triggered. This means that once your stop price has been reached, your limit order will be immediately placed on the order book.
The order form includes the following criteria:
- Trigger – this indicates the price which starts an order. A unit price is bought once a price stipulated in the trigger is achieved, hence the order will be triggered.
- Price – this allows users to change the price that your order will be executed at
Total – the total amount to be payed or received will be displayed here, in the particular chosen currency, after the order has been executed.