Stop limit orders: How to place take profit and stop loss orders
How to place take profit and stop loss orders
Take profit and stop loss orders can also be placed in combination with every stop limit buy order. This requires “Place take profit” or “Place stop loss” to be checked in the order screen. Take profit corresponds to a limit sell order, stop loss to a stop limit sell order. The quantity of the associated orders always corresponds to that of the underlying stop limit buy order.
As soon as the entered stop limit buy order is executed in full, take profit and stop loss are automatically placed. If the limit of the take profit order is exceeded first, this order will be executed and the stop-loss order cancelled. If the stop limit of the stop loss order is reached first, this order will be activated and the take profit order is cancelled. When the take profit or stop loss is executed, the trader will always be notifed by email. The validity of take profit and stop loss orders is automatically limited to 6 months.