Can Stoploss stop weekend-gap?

[Kwok Fung Chan]

If i place a trade and a stoploss with it on Friday, what will happen on monday if the weekend gap goes over my stoploss?

[honest_knave]

SL and TP are stop orders. That means that once price crosses them, they effectively become market orders and filled at the best available price.

Example:

Your SL is 10 pips below Friday Close

Market gaps down 20 pips at Monday Open.

You will be closed out at -20 pips.

[William Roeder]

When a stop is triggered it becomes a market order and will be filled at current available price. Except if you have a broker that guarantees stops (they are rare, cost more, but they do exist.)

[Kwok Fung Chan]

honest_knave:

SL and TP are stop orders. That means that once price crosses them, they effectively become market orders and filled at the best available price.

Example:

Your SL is 10 pips below Friday Close

Market gaps down 20 pips at Monday Open.

You will be closed out at -20 pips.

so my order will be close at market open-price on monday?

[Kwok Fung Chan]

whroeder1:
When a stop is triggered it becomes a market order and will be filled at current available price. Except if you have a broker that guarantees stops (they are rare, cost more, but they do exist.)

what is guaranteed stops and can ecn broker have this?

[honest_knave]

Kwok Fung Chan:
so my order will be close at market open-price on monday?

Yes

[Kwok Fung Chan]

honest_knave:
Yes

okay i am clear now thanks

[honest_knave]

Kwok Fung Chan:
okay i am clear now thanks

I'm glad we helped.

[Alain Verleyen]

Kwok Fung Chan:
what is guaranteed stops and can ecn broker have this?

No way, could only be provided by market makers.