Stop limit plus field

[skirmantas]

Hi,
trade ->broker->manager->order defaults
Here we have "stop limit plus field"
Can somebody clarify the meaning ?
My thoughts:
1.example: I place stop sell order at 1000, next price traded after that is 995, so if I before that choose "stop limit plus" with value 2 - order will be executed only in range of 1000 – 998 or not executed at all, but not at 995.
or
2. I place stop sell order at 1000, next price traded after that is 995, so if I before that choose "stop limit plus" with value 2 - limit sell order will be issued with price of 998.

[eSignal_AveryH]

skirmantas,

StopLimit Plus allows you to predetermine the offset of the limit order price based on the Stop Order. Generally speaking when setting a stopLimit Order the user has to set the price for the stop as well as on for the limit. The StopLimit Plus removes the works of entering the limit price for the order.

Your example is correct in that if you create a Sell StopLimit Order at 1000 the Stop Order would be 1000 the limit at 998. Once the price of 1000 is hit the Stop Order becomes a limit order and the price would have to be 998 or better before the order can execute.

AveryH
eSignal Support