Spotware Systems announces Stop Limit Order for cTrader.
The developer of cTrader, Spotware has announced that new order type has been added to the platform.
The new order type is:
“Stop Limit Order”
It is the order type that combines “Stop Order” and “Limit Order”.
As options, you can choose from “Sell Stop Limit” or “But Stop Limit” on the platform as you can see in the screenshot.
This order type has been added for much greater precision in executing the trade.
How “Stop Limit Order” works?
As a basis, “Stop Order” is the order that will be executed at the specified price, but the new position will remain opened whether or not the market price goes in your favor or against.
In case of “Stop Limit Order”, the new position automatically closes at the specified price in case the market price goes against your favor after the first “Stop Order” is executed.
Thus, a Stop Limit Order places an order that sets a limit to the price that the investor accepts for the order. Trading is halted once the price becomes unfavorable, based on the investor’s Limit Range.
With this type of order, you can manage your positions more efficiently and precisely.
The update has been made for desktop, web, iOS and Android versions of the platform, and the order type is already available without any installation or plugins.