Several types of stops can be applied under the ATM settings listed in the Stop Loss Type drop-down menu:
Stop
This is a fixed stop, placed at a set distance from the entry price. The distance is determined by the number which is entered in the stop loss field.
Stop Limit
This order type contains two parts: A stop part and a limit part. The Stop Limit order allows a stop order to be filled as a limit instead of getting filled at the best market price.
The number which is entered in the stop loss field will be where the stop is placed once the entry order is filled. If that stop order is hit, the limit part of the order (stop limit field in the ATM settings) will become a working order.
For example, if both fields contain the same number, the limit order will be placed at the same price as the stop. If the number in the stop limit field is different, it will be placed at a distance from the stop order (distance is the difference between the stop loss value and the stop limit value)
Please note it is possible for a stop limit order to be triggered and, based on market movement, left with a working limit order and open position without a working stop loss. Please use this stop loss order type with caution.
Trail.Stop
The stop loss field will determine the distance between the entry price and where the stop will be working initially. If the price moves in the right direction (i.e. there is an open profit) the stop will move by the same amount. Each time the price reaches a new high from the filled entry order (for a long trade) or a new low from the filled entry order (for a short trade) the trailing stop will move by that same amount.
If the stop is hit, it will be filled at the best market price.
Trail.Stop Limit
This is a combination between a regular trailing stop and Stop Limit order. The stop loss field will determine the distance between the entry price and where the stop will be working initially. If the price moves in the right direction (i.e. there is an open profit), the stop will move by the same amount. Each time the price reaches a new high (for a long trade) or a new low (for a short trade) the trailing stop will move by that same amount.
If the trailing stop is hit, the limit part of the order (stop limit field in the ATM settings) will become a working order.
Please note it is possible for a stop limit order to be triggered and, based on market movement, left with a working limit order and open position without a working stop loss. Please use this stop loss order type with caution.
Auto Breakeven
The AutoBreakeven contains a stop loss field, which will be the initial Stop Loss level once the entry order is filled. If the open profit of a position reaches the amount that is set in the profit trigger field, the stop will move to break even price (when the offset amount is set to zero). When entering a positive or negative amount in the offset field, the Stop Loss will move to breakeven, plus or minus that offset amount, should the profit trigger be reached.
AutoTrail
The AutoTrail contains a stop loss field, which will be the initial Stop Loss level once the entry order is filled. Once the profit trigger is reached, the stop will move to profit trigger - (Auto Trail) stop loss level. The value set in the frequency field determines how often the stop loss is adjusted after the profit trigger is reached.
For example (for simplicity, let’s assume this is a contract where 1 tick = 1 point).
Buy 1 contract at 1000.
Initial Stop Loss working at 990 (stop loss set to 10)
The price moves up to 1010 (reaching profit trigger)
Stop Loss moves from 990 to 1005 (profit trigger - stop loss = 5), so profit trigger - 5 = 1005
Every 2 ticks the price moves up, will move the Stop Loss by 2 ticks (due to frequency of 2):
Price moves up to 1012 causing SL to move to 1007 (1012 - 5)
Price moves up to 1014 causing SL to move to 1009 (1014 - 5)
Auto BreakEven + AutoTrail
This is a combination of Auto Breakeven and AutoTrail.
The AutoBreakeven + AutoTrail contains a stop loss field, which will be the initial Stop Loss level once the entry order is filled. If the open profit of a position reaches the amount that is set in the (Auto Breakeven) profit trigger field, the stop will move to breakeven price (when the offset amount is set to zero). When entering a positive or negative amount in the offset field, the Stop Loss will move to breakeven, plus or minus that offset amount, should the profit trigger be reached.
If the price then reaches the (Auto Trail) profit trigger amount, the Stop Loss will move to profit trigger - (Auto Trail) stop loss level. The value set in the frequency field determines how often the stop loss is adjusted after the profit trigger is reached.
For example (for simplicity, let’s assume this is a contract where 1 tick = 1 point).
Buy 1 contract at 1000.
Initial Stop Loss working at 990 (stop loss set to 10)
The price moves up to 1010 (reaching Auto Breakeven profit trigger set to 10)
Stop Loss moves from 990 to 1002 (breakeven price + an offset amount of 2
Price moves up to 1015 (reaching AutoTrail profit trigger set to 15)
Stop Loss moves from 1002 to 1010 (profit trigger - stop loss = 10), so profit trigger - 5 = 1010
Every 2 ticks the price moves up, will move the Stop Loss by 2 ticks (due to frequency of 2):
Price moves up to 1017 causing SL to move to 1012 (1017 - 5)
Price moves up to 1019 causing SL to move to 1014 (1019 - 5)
Note that the Profit Trigger is calculated based on the greater of the last traded price and Ask price for a long position (sell stop loss) and on the greater of the last traded price and Bid price for a short position (buy stop loss). So in the above example, for a long position, both the last traded price and the Bid price would need to be 3 ticks or more above the entry price for a sell stop to move to break-even and in the case of a short position, both the last traded price and the Ask price would need to be 3 ticks or more below the entry price for a buy stop to move to break-even.