What are Stops?
Stops are a type of order that will trigger a market entry at the specified price if the instrument reaches it. They can be used for closing open positions (Stop-Loss with reduce only) or opening new positions (Stop Entry).
Type of Stop Entries:
- Stop Buy -> ABOVE the price
- Stop Sell -> UNDER the price
The maximum number of active Stop Entry orders is 2: one for each direction. You can not have more than 1* active Stop Entry order in the same direction at the same time.
– There is an open Long trade with Stop Loss set. In this case you are allowed to place a Stop Sell Entry and/or a Stop Buy Entry
– There is only an active Stop Sell order. In this case, regarding Stop Entries, you are allowed to place only one Stop Buy order. If the second Stop Sell order is sent it will just move the other Stop Sell at the new level.