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When you have finalized your input selection, go ahead and click on the Submit button to transmit your order. Day orders will be cancelled at the close of business if not filled, while GTC orders will remain intact until the user cancels the order or else it is filled.

Next, choose from the time-in-force selection menu the appropriate length of time you want the Stop order to remain in place. This is the price at which the order will activate. Form the Order Type dropdown menu, select the STP or Stop order type. As this is an existing position, we can simply click on the Position field in order to populate the Quantity field with the entire position we want to sell. Enter the appropriate ticker in the Order Entry panel and click the SELL button to create an order to sell shares. To do this we want to set up a Stop order type that we want to activate in the event that the share price trades down to $13.30. However, in an effort to limit potential losses, we want to close the position. In this example, we have a long position of 2,100 shares in ticker AA, which is trading at $13.56/59. For more information on modifying the trigger method, as well as a detailed description of the default trigger method for each product type, please see the TWS User's Guide section entitled "Modify the Stop Trigger Method" located here. Customers may also modify the default trigger method for all Stop orders by selecting the "Edit" menu item on their Trade Workstation trading screen and then selecting the "Trigger Method" dropdown list from the TWS Global Configuration menu item. To modify the trigger method for a specific stop order, customers can access the "Trigger Method" field in the order preset. Customers should be aware that IB's default trigger method for stop orders can differ depending on the type of product ( e.g., stocks, options, futures, etc.).

See our Exchange Listings.įor stop orders simulated by IB, customers may use IB's default trigger methodology or configure their own customized trigger methodology. The linked page for each exchange contains an expandable "Order Types" section, listing the order types submitted using that exchange's native order type and the order types that are simulated by IB for that exchange.

The IB website contains a page with exchange listings. Interactive Brokers may simulate certain order types on its books and submit the order to the exchange when it becomes marketable. It is typically used to limit a loss or help protect a profit on a short sale. A Buy Stop order is always placed above the current market price. A Sell Stop order is always placed below the current market price and is typically used to limit a loss or protect a profit on a long stock position. A Stop order is not guaranteed a specific execution price and may execute significantly away from its stop price. A Stop order is an instruction to submit a buy or sell market order if and when the user-specified stop trigger price is attained or penetrated.