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Sell Limit / Sell Stop

  • #1
  • First Post: Aug 6, 2012 7:29am Aug 6, 2012 7:29am
How come I can put in Sell Stop order when I want to short but not a Sell Limit (MT4/Oanda)? It keeps saying that the s/l & t/p are off. As soos as I change it to sell stop it takes the order with the same numbers.
Argue for your limitations, and sure enough, they're yours. Richard Bach
  • #2
  • Aug 6, 2012 9:58am Aug 6, 2012 9:58am
Quoting pipsel
How come I can put in Sell Stop order when I want to short but not a Sell Limit (MT4/Oanda)? It keeps saying that the s/l & t/p are off. As soos as I change it to sell stop it takes the order with the same numbers.
A sell stop you put below the current price, a sell limit you put above the current price.
The sell stop will get picked up, once price moves down to your designated sell stop price.
The sell limit order will get picked up, once price moves up to your designated sell limit price.
  • #3
  • Aug 6, 2012 10:53am Aug 6, 2012 10:53am
Correct as usual, Custos.
To illustrate it -
sell limit: price is going up but I think it's gonna come back so I put the sell limit HIGH
sell stop: if price falls below this price, I want to be in because I think it's gonna move much lower

Simples...
Quoting Custos
A sell stop you put below the current price, a sell limit you put above the current price.
The sell stop will get picked up, once price moves down to your designated sell stop price.
The sell limit order will get picked up, once price moves up to your designated sell limit price.
forget about tomorrow, just steal away into the night
  • #4
  • Aug 6, 2012 10:05pm Aug 6, 2012 10:05pm
  •  fivex
  • | Joined Sep 2011 | Status: This is the title that appears | 247 Posts
What I did to remember what is what, is when you click on the pending order drop down it shows,

Buy Limit
Sell Limit
*************
Buy Stop
Sell Stop

*The current price is in the middle.
  • #5
  • Aug 6, 2012 10:20pm Aug 6, 2012 10:20pm
Quoting fivex
What I did to remember what is what, is when you click on the pending order drop down it shows,

Buy Limit
Sell Limit
*************
Buy Stop
Sell Stop

*The current price is in the middle.
That may be what it shows in the dropdown but it's not intuitive.

It should be:

Buy Stop
Sell Limit
************* Current Price
Buy Limit
Sell Stop


Stop orders are placed at levels WORST than current prices i.e. in a sell stop, you want to sell at lower than current spot; in a buy stop, you want to buy at higher than current spot.

Limit orders are placed at levels BETTER than current prices i.e. in a sell limit order, you want to sell at higher than current spot; in a buy limit order, you want to buy at lower than current spot.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #6
  • Aug 6, 2012 10:41pm Aug 6, 2012 10:41pm
  •  fivex
  • | Joined Sep 2011 | Status: This is the title that appears | 247 Posts
Quoting skenobi
That may be what it shows in the dropdown but it's not intuitive.

It should be:

Buy Stop
Sell Limit
************* Current Price
Buy Limit
Sell Stop


Stop orders are placed at levels WORST than current prices i.e. in a sell stop, you want to sell at lower than current spot; in a buy stop, you want to buy at higher than current spot.

Limit orders are placed at levels BETTER than current prices i.e. in a sell limit order, you want to sell at higher than current spot; in a buy limit order, you want to buy at lower than current spot.
Thats why I'm in the rookie room
  • #7
  • Oct 18, 2012 9:54am Oct 18, 2012 9:54am
http://www.forexfactory.com/showthre...65#post6025565
  • #8
  • Last Post: Oct 18, 2012 1:06pm Oct 18, 2012 1:06pm
The way I remember it is:

Use stop orders if you think the trend will continue in the current direction.
Use limit orders if you think the trend is going to reverse.
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