Simple LIMIT ORDER for SL | Voters

Simple LIMIT ORDER for SL

Vadim TD

While STOP MARKET is OK, during high volatility, it might eat up a lot on market spread.
I've had this happen, that it did 3x of my calculated risk.
Simple limit order, or stop-limit order - would allow to control the risk better, than stop-market or virtual orders.

November 1, 2022

ianrobertdouglas

I might be wrong, but my understanding is that limit orders needs to be matched, and the reason you have volatility is that there is an imbalance between sellers and buyers, so limit orders cannot be matched efficiently. The risk of a limit order as a stop loss is that it gets passed over entirely, whereas a market order - notwithstanding slippage - will fill.

I would like to see, instead of a single SL, multiple SLs that you can set at the time of entering the trade, and not some hugely complicated process, but simple and intuitive. SL1 25%, SL2 25%, SL3 100%, for example.

Vadim TD

Actually, having a "reduce only" tick box in SINGLE ORDER (not virtual), might fix this, as well as act as a workaround for "multiple SL orders"

Vadim TD

Example of STOP-MARKET spread