thearrymail-ct
01 Aug 2017, 12:42

Dear Spotware team, 

I know what a stop limit order is, I've been using it on other platforms for a long time. I don't know why you guys are trying so hard to redefine what a stop limit order is.  

Here's the definition from the SEC (https://www.sec.gov/fast-answers/answersstoplimhtm.html):

A stop-limit order is an order to buy or sell a stock that combines the features of a stop order and a limit order.  Once the stop price is reached, a stop-limit order becomes a limit order that will be executed at a specified price (or better).

Here's the definition from TDAmeritrade (https://papermoney.thinkorswim.com/tos/displayPage.tos;jsessionid=4D0702EA204D25611A1112CAC0FD1A6B.tos2_w9c5?webpage=servicesOrderTypes#)

STOP LIMIT - order used to open or close a position by buying if the market rises or selling if the market falls, but that turns into a limit order when the stop price is triggered. Stop limit orders have a stop price and a limit price. When the stop price is triggered, the limit order is activated. The stop price for buy orders is placed above the current market price. The stop price for sell orders is placed below the current market price. The stop price does not need to be the same as the limit price. Just as with a limit order, the stop limit order will be filled at the limit price or better, but may not be filled at all.

Here's the definition from Interactive Brokers (https://www.interactivebrokers.com.au/en/index.php?f=608)

A Stop-Limit order is an instruction to submit a buy or sell limit order when the user-specified stop trigger price is attained or penetrated. The order has two basic components: the stop price and the limit price. When a trade has occurred at or through the stop price, the order becomes executable and enters the market as a limit order, which is an order to buy or sell at a specified price or better.

Right now what you guys seem to be defining as a stop limit order is actually an Immediate Or Cancel (IOC) stop order with a deviation range, which can only give exact or worse prices.

Guess I'll just leave it at that then.

If other trader are wondering why their stop limit order isn't working, they can read here and find out the Ctrader stop limit order isn't actually a stop limit order.

thearrymail-ct
28 Jul 2017, 21:03

Basically the change is the OPPOSITE of what I wanted lol.

thearrymail-ct
28 Jul 2017, 20:56

Dear Spotware

thanks for the response. However I think my problem with the order is not that I want it to be canceled but moreso that didn't trigger the first 2 times and that it didn't act as a sell limit after trigger price was reached.

Or to put it another way, I wanted it so that after it passes the trigger price downwards and misses fill, if it goes upward again it MUST trigger (preferrably with exact or better price if on a 0p dev as a sell limit).

Where as in your description, you seem to be indicating that if it goes downward past the trigger price, if it can't fill during the downmove, then when it goes up again it MUST NOT trigger. Is this correct?

If this is case, it sounds more like an Immediate Or Cancel order (IOC) rather than a stop limit order to me.

thearrymail-ct
21 Jul 2017, 18:23

Dear Spotware

after going below the trigger price of 1.06270, there was a whole 30min period from 06:31 - 07:00 where price was above 1.06270. Surely there would of been ample time for liquidity providers to fill? It would of even given me a better entry if it had as well. Or do you mean the logic of the ctrader stop limit order is set that it can only give worst prices?

On another platform I use (TWS), with a 0 deviation sell stop limit order @ 1.06270, it would of created a sell limit order at exactly 1.06270 as soon as it goes below 1.06270. Even if the next avaliable price gaps above 1.06270, the sell limit will still activate and fill (with positive slippage).

Is this not case with the ctrader stop limit order?