Stop limit orders: How to place a stop limit order
How to place a stop limit order
In the order screen in your wikifolio (click on “Trade” for a security in the current portfolio), you can choose between the order types “quota”, “limit” and “stop limit”. Select “stop limit” for a stop limit buy or stop limit sell order.
After the order type has been set, you can specify the quantity, the stop limit, the limit and the validity.
In the event of a buy order, the limit must be above the stop limit, in the event of a sell order it must be below the stop limit.
If there is too little cash for an execution in the wikifolio in the event of a stop limit buy order, the order can nevertheless be placed. However, an execution may only take place once there is also sufficient cash available in the wikifolio. A stop limit sell order may also be placed without there being a sufficient quantity of the relevant security available in the wikifolio. An execution is, however, only possible once enough quantity is available. In both cases, the orders can be found in the status "Placed" under "Open trades".
The validity may be selected from 1 day to 90 days into the future. By default, 30 days are already preselected.
Stop limit orders always expire at the close of trading (Monday – Friday 11 p.m., Saturday 1 p.m. and Sunday 7 p.m.; UTC+01:00) of the selected day.
Once you have set all the parameters for a stop limit order, you can submit the order by clicking on “Place order”. When a stop limit order is executed, the trader will always be notifed by email.