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What does the "Take profit" option in a Stop Limit order?
This is what says in the rule
Can someone please explain this?
This is what says in the rule
Stop and Stop Limit Orders
A stop order is a market order that will remain unelected, i.e does not enter the order book. A
stop order is elected to the order book based on the last traded price, Once a stop order is
elected to the order book, it will be treated in a similar manner as a new market order. A stop
order does not contain a price. However a stop order must be submitted with a stop price.
A stop limit order is a limit order that will remain unelected, i.e does not enter the order book.
A stop limit order is elected to the order book based on the last traded price, Once a stop order
is elected to the order book, it will be treated in a similar manner as a new limit order. A stop
limit order must contain both a stop price and a limit price.
Stop and Stop limit orders will only be elected to the order book during the regular trading
session. At the commencement of the regular trading session, stop and stop limit orders will be
elected to the order book based on the opening price.
If a change in the last traded price causes multiple stop and stop limit orders to be elected, the
election priority will be based on the stop price value and time of entry. Stop and stop limit
orders at the same stop price are elected based on time priority.
Can someone please explain this?
Last edited by kav4 on Sun Mar 04, 2012 7:42 pm; edited 2 times in total
