Stop market and stop limit are both trigger orders: nothing happens until the market reaches a price you set in advance, and then something does. They sit next to Market and Limit in the order type menu, and they exist so you can enter or exit a trade at a level you have already decided on, without sitting in front of the screen waiting for it.
Read MoreA scaled order places several limit orders across a price range instead of one order at a single price. You set the top of the range, the bottom, how many orders to spread between them, and the total size. Ouinex divides the size across the orders and shows you the resulting average entry before you commit.
Read MoreThe Ouinex navigation has been rebuilt in 4.35. Two menus are new, one section has moved out of a submenu and into the top level, and the platform and the website are now linked in both directions rather than being two places you had to find separately.
Read MoreUntil 4.35, a position on Ouinex could carry one take profit and one stop loss. It can now carry up to five of each, every level with its own price and its own quantity, so you can close half the position at the first target, a quarter at the second, and let the remainder run. On top of that, the stop side can be handed to one of three automated strategies: break-even, stop-win, or a trailing stop.
Read MoreAn iceberg order lets you place one large order while only ever showing a small slice of it at a time. The rest stays hidden; as each visible piece fills, the next one appears, until the whole order is complete. The name is exact, what the book shows is the tip.
Read MoreAn OCO order is two orders placed as one unit, linked by a single rule: whichever fills first cancels the other. In practice that means a take profit and a stop loss submitted together, so the moment your target is reached your protective order disappears on its own, and the moment your stop is hit your target disappears with it.
Read MoreA TWAP order splits one large order into smaller pieces and executes them evenly across a time window you choose. The name stands for Time-Weighted Average Price, and the point of it is simple: one large order takes more of the available liquidity than a small one, and announces itself to everyone watching the book while it does. Several small fills spread across twenty minutes do neither.
Read MoreAn OTO order lets you plan an entire trade in one ticket. You set the order that gets you into the position, and you set the order that will protect or close it, and the second one is submitted automatically the moment the first one fills. OTO stands for One-Triggers-the-Other, and the gap it closes is the most expensive gap in retail trading: the window between an entry filling and the trader getting round to placing a stop.
Read MoreA trailing stop is a stop-loss that follows the market while your trade is working and stays put when it is not. You set a distance, a fixed amount in USD or a percentage, and the stop keeps that distance behind the best price your trade has reached. When price moves in your favour, the stop moves with it. When price turns, the stop does not move back.
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