When a STOP/LIMIT order is added, its type (stop or limit) is not specified. The type is determined automatically from the current price, the direction of the position (buy or sell) and the price specified in the order.

A STOP/LIMIT may close not every lot in the position, but only some of them. Therefore, several STOP/LIMIT orders may be entered for a single position. If the total number of lots in the order is larger than the number of lots in the position, the extra lots will be ignored.

Important When the price is passed in one tick during rapid market movements, the orders will be filled in the order they were entered. For example, if USDJPY goes from 125.25 to 125.35, then an order entered within this range earlier will be filled first, despite its price being higher than that of the other orders.

A STOP/LIMIT may also be set during the opening of a position

Adding a STOP/LIMIT order to an existing position.

1. Select a position from the (Open Positions table, then call the position menu with a right click on the position, select the Add Stop/Limit option
   Figure 1. The menu used to add a STOP/LIMIT order.
   
2. The order parameters entry form will appear:
   Figure 2. Stop/Limit order parameters
   

   The desired number of lots (1) not to exceed the number of lots in the position and the order price must be entered in the form. The type of the order (STOP or LIMIT) will be automatically determined by the system from the order price, current market price and the direction of the order (BUY or SELL). For example, if the position is a BUY, and the price above the market is specified, the order will be deemed LIMIT (LMT).

   Note. The order price may be entered as an absolute ( 121.00, for example), or a relative (+30 or -30, for example) value. 30 is the number of points above or below the current price.

   The difference between the current price and the order price cannot be smaller than stipulated by the agreement.

3. If desired, the order execution time may be restricted by a time interval. To do so, the Expires option (3) should be checked and the expiration date entered into the appropriate field (4). When this time passes, the order will be cancelled automatically. Either the date and time, or time alone may be entered. If only time is set, today's date will be used for the date value. The date should be entered in the dd-mm-yy hh:ii or hh:ii format, where
   • dd is the day of the month
   • mm the number of the month
   • yy the last two digits of the year
   • hh hours
   • ii minutes

   If this field (4) is blank, the order is considered good till cancelled.

4. Click the Add button and wait until the order appears in the Active Orders table. If the order does not appear in the Active Orders table, some error may have occurred. Examine the message field in the lower part of the trading panel:

To change the price of a STOP/LIMIT order price

The price of a STOP/LIMIT order cannot be changed after entry. If the price needs to be changed, a new order at a new price should be entered. A new order may be entered before cancelling the old one.