Can Stoploss stop weekend-gap?
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?
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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.
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.)
honest_knave:
so my order will be close at market open-price on monday?
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.
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?
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:
so my order will be close at market open-price on monday?
Yes
so my order will be close at market open-price on monday?
honest_knave:
Yes
okay i am clear now thanks
Yes
Kwok Fung Chan:
okay i am clear now thanks
I'm glad we helped.
okay i am clear now thanks
Kwok Fung Chan:
what is guaranteed stops and can ecn broker have this?
No way, could only be provided by market makers.
what is guaranteed stops and can ecn broker have this?
