Previously, when talking about different types of orders, it was to adapt to the ordering needs of different scenarios, making it easier for users to make fewer selections and place orders quickly.

Among them, limit orders, market orders, auction orders, and odd lot orders were mentioned. For those who have not yet understood, hurry up and click the link to review.Click on the blue words.Let's review.

And today these three types of orders are even more powerful, they are designed to help users lock in profits, reduce losses, and the 'greedy' can also make more trades with these trading tools:

Stop orders, take profit (stop profit) orders, trailing stop limit orders

Come and learn about the types of orders with helpful tips, allowing you to quickly understand more features of futubull and earn more money.

1. Stop orders, can only incur losses and not more.

First of all, whether it's a stop order or a take profit order, let's first list the most common scenario here when you hold positions:

When we hold positions, we are always very concerned about the direction of the stock, not the direction we expected and determined, but the opposite direction. For example, we buy stocks and they start falling in the next time period, or we sell stocks and they start rising in the next time period.

To control risk, reduce losses, and not have time to watch the market, we can place another stop order after holding positions. When the stock develops in the opposite direction you determined, and reaches the trigger price, you can start placing a sell/buy (close position) order to control risk.

For example: When I buy 100 shares of stock A at a price of $70, but I am concerned that for various reasons the stock A will start to decline after the purchase, then in order to minimize losses, I decide to place a stop limit order to sell in the opposite direction, with a trigger price of $65 and a price of $64.9. So when stock A falls to $65, an automatic sell limit order of $64.9 is submitted to the market to control our risk.

Quick tip, please note:

Trigger price is the time switch: The trigger price determines the timing of the order trigger, meaning once that price is reached, the stop order will be automatically submitted to the market. So, this price does not represent the fill price.

Price represents the fill price (stop limit order): The limit order has this option, representing the order submission price. If the order is filled, the fill price will not be worse than the limit price for that order. Of course, if you wish for a swift fill, you can set a more competitive price.

Market order: After breaching the trigger price, a market order is submitted for quick execution.

Second, trigger order, taking profits and turning floating profits into cash.

Unlike stop orders, when holding actual stocks, we often have certain expectations for profits. In a volatile market, we can determine our own profit strategy.

So when the stock price reaches a support level, facing the uncertainty of a volatile market, we can harvest profits by setting a trigger order (take profit order) and secure our gains.

Therefore, in order to turn floating profits into cash, in situations where we cannot monitor the market all the time, we can place another trigger order (take profit order) after holding positions. When the stock moves in the direction you expected and reaches the trigger price, then you can start placing orders to sell/buy (close positions), harvest profits, and cash in.

Small tip, please note: (same as stop orders)

Trigger price is the time switch: The trigger price determines the timing of the order trigger, meaning once that price is reached, the stop order will be automatically submitted to the market. So, this price does not represent the fill price.

Price represents the fill price (stop limit order): The limit order has this option, representing the order submission price. If the order is filled, the fill price will not be worse than the limit price for that order. Of course, if you wish for a swift fill, you can set a more competitive price.

Market order: After breaching the trigger price, a market order is submitted for quick execution.

Attached orders: If you have determined profit-taking and stop-loss strategies when preparing to place an order for holding actual stocks, you can directly and quickly add an attached order by pulling down the options when placing the order for actual stocks. You can choose between a take profit order, a stop-loss order, or a bracket order, which includes setting both profit-taking and stop-loss at the same time.

It is important to note that here the take profit price represents both the trigger price and the order price (limit order), while the stop loss price only represents the order trigger price. Once triggered, it will be submitted to the market as a stop market order.

3. Stop loss and trigger for opening positions, preempting the bottom fishing.

As mentioned earlier, stop-loss orders and triggering orders can help everyone with stop loss and take profit while holding positions. Then, can we directly use stop loss and triggering to open positions without holding any stocks?

The answer is: yes, it must be possible.

In simple terms, when our strategy determines that a stock has a "price" trigger switch, and the stock experiences a rebound after reaching a bottom at a certain price, or starts to surge after breaking through a certain price, stop-loss and triggering orders can be used to open positions. No need to watch the market closely, opening positions one step ahead.

For example, when you judge that stock A has bottomed out at 200, with not much room for further decline and likely to see a rebound, you can place a market trigger order (buy) with a trigger price of 200 for stock A. When stock A drops to 200, it triggers, and then quickly fills at the latest market price for bottom fishing.

Quick tip, please note:

When setting stop-loss and trigger to open a position, make sure to determine the direction (buy or sell): when using stop-loss orders and trigger orders to open positions, be sure to determine the direction of buying or selling.

Fourthly, with trailing stop loss orders, profit greedily while hedging.

In a volatile market, sometimes without a clear strategy, determining the fill price of the orders for taking profit and stopping loss, while the stock price shows a rapid fluctuation, but you still want to take a little more profit, what should you do? At this time, after opening a position, you can place another trailing stop loss order to more accurately control gains and losses, grabbing more profits.

For example, when we buy stock A at a price of 120, and set the trailing percentage at 10%, then when the stock directly drops by 10% to 108, it triggers the trigger price switch, and at this point, it will be sold with a limit or market order to control the loss.

But if the stock price rises continuously after the purchase, then our trigger price will continue to refresh upwards with the stock price. For example, if it rises to 130, our trigger price also refreshes to 117, if it rises to 140, our trigger price refreshes to 126. Once the stock price starts to fall by 10%, for instance, after rising to 140, when it starts to fall and triggers at 126, immediately submit a trailing stop limit/market order to lock in profits.

Quick tip, please note:

Recommendation for holding positions: after holding positions, use trailing stop loss to control losses and gain more profits.

Type of trailing: you can choose percentage or amount.

The fill price of a limit order: when using a trailing stop limit order, the trade will be executed at the price after reaching the trigger price minus the specified price difference.

Alright, with 7 types of orders explained, now go ahead and make use of more advanced orders to show off your skills and earn more wins.