What is a Limit + Take Profit/Stop Loss Order?

With a combination of a main limit order and sub-orders (Take Profit Limit/Stop Order), client can create a main order with up to two attached Stop or Take Profit Limit sub-orders. When one of the sub-orders is executed (fully or partially), the system will automatically cancel another sub-order.

For example:

Assume the current market price of a stock is $100, client wants to buy stock, ABC with a Limit order while setting a Stop price at $95 and a Take Profit Limit price at $105.

Client can set the main order as a limit buy order for $100 for stock ABC and set sub-order A as a Stop order trigger at $95 and sub-order B as a Take Profit Limit order at $105.

When the market price falls and reaches $95, sub-order A is triggered, and the system will sell the held stock ABC at the market price, automatically canceling another sub-order B.

On the other hand, if the market price rises and reaches $105, sub-order B (Take Profit Limit order) is executed, and the system will sell the held stock ABC at the specified limit price, automatically canceling another sub-order.

Conditions:

1. Supported order types: Limit order, Stop order, Take Profit order.

2. Order placing time: Can be placed at any time in the client terminal.

3. Maximum number of sub-orders supported for one main order: Up to 2.

4. Time-in-force: Users can choose between "Day" or "Good ‘Till Canceled (GTC)" expiration. If the order is not fully filled within the certain period, the system will automatically cancel it.

Note: If the order fails due to risk control, company actions, or other reasons during the execution process, the order status will be updated to canceled, and the system will no longer continue to submit the order.

5. Trigger time: The trading period for the main order price can be set to "Include Extended Hours" or "Only Regular Hours" The trading period for sub-orders is "only regular hours." When the conditions are triggered, the system will automatically submit the default order to the market.

Instructions:

1. Limit + Take Profit/Stop Loss Order only supports the same equity.

2. After the order is triggered, there is no guarantee that it will be executed.

3. After the order is triggered, regardless of whether the corresponding order is executed or not, the trigger condition will not be effective again; if necessary, please place a new order.

4. If the order is for closing positions and the quantity is higher than the position at the time of triggering, the order will not be executed.

5. The order will only be triggered within the allowed trading hours.

6. The expiry date of all main orders and sub orders must be consistent.

7. Limit + Take Profit/Stop Loss Order supports the following products:

US stocks: support for long opening, buy to close, short opening, sell to close.

US stock options: support for long opening, sell to close.