What Is a Stop Order?

A Stop Order on Pluang is a PRO Mode Advanced Order that stays inactive until the market reaches a price level you set — the stop or trigger price — and then automatically converts into a Market Order that executes at the best available price. It lets you react to a price move without watching the market constantly: you decide the level in advance, and Pluang fires the order for you when the market gets there. Because it becomes a Market Order once triggered, a Stop Order is very likely to execute, but the exact fill price isn't guaranteed and can differ from your stop price, especially in a fast or volatile market. As it takes liquidity from the order book on execution, a Stop Order is a taker order, so it is charged a taker fee (subject to 11% VAT), and a floating spread applies. On Pluang's spot crypto everything is priced and settled in IDR. Use a Stop Order when you want automatic execution once a price level is hit and speed matters more than an exact price.

• Two states: inactive, then active. Before the market touches your stop price, the order simply waits and does nothing. Once the stop price is reached, it converts into a Market Order and executes at the best available price at that moment.
• Execution is likely, price is not fixed. Because it fills as a Market Order, a Stop Order prioritises getting done over getting a precise price. In a fast-moving market the actual fill can differ from your stop price — the trade-off for the near-certain execution.
• It's a taker order. A triggered Stop Order takes liquidity from the book, so it incurs a taker fee (subject to 11% VAT), and a floating spread also applies, varying with the asset's liquidity and market conditions.
• Common uses. A Stop Order can protect a position (a stop set below your entry helps you exit if price falls against you) or act on momentum (a stop set above the current price to buy in once an uptrend confirms).
• Validity and controls. Like other Advanced Orders, a Stop Order stays valid for up to 90 days and can be modified or cancelled while it hasn't executed. You can hold up to 200 pending orders per coin, and any locked IDR or units are released when you cancel.
• Worked example. Suppose an asset is trading below a level you're watching and you believe a rise past that level signals a stronger uptrend. You set your stop price there; once the market reaches it, your order becomes a Market Order and executes at the best available price at that moment.

Related questions:

Q: Is a Stop Order guaranteed to execute at my stop price?
No. The stop price only decides when the order activates; it doesn't set the fill price. Once triggered, a Stop Order executes as a Market Order at the best available price, which can differ from your stop price — sometimes noticeably in a fast-moving or thin market. If you need to cap the price you'll accept after triggering, a Stop-Limit Order gives you that control, at the cost of possibly not filling.

Q: What is the difference between a Stop Order and a Stop-Limit Order?
Both stay inactive until a trigger price is reached, but they convert into different things. A Stop Order becomes a Market Order once triggered — execution is near-certain, price is not. A Stop-Limit Order becomes a Limit Order once triggered — the price is capped at your limit or better, but it may not execute if the market moves past that level. Stop favours certainty of execution; Stop-Limit favours price control.

Q: When should I use a Stop Order rather than a Stop-Limit Order?
Use a Stop Order when, once your trigger is hit, actually getting filled matters more than the exact price — for example, exiting a falling position quickly. Use a Stop-Limit Order when you'd rather cap the price you accept after triggering and can accept the risk that the order doesn't fill if the market jumps past your limit. It's a certainty-versus-price-control decision.

Q: Can I use a Stop Order to limit losses?
Yes — this is one of its most common uses. Setting a Stop Order below the price at which you entered a position means that if the market falls to that level, the order triggers and sells as a Market Order, helping you exit without watching the screen. Keep in mind the fill price can differ from your stop price in fast markets, so it limits losses but doesn't lock in an exact exit price.

Q: What is the trigger price in a Stop Order?
The trigger price — also called the stop price — is the level you set that activates the order. It doesn't determine the execution price; it only tells Pluang when to send the order. When the market reaches your trigger price, the Stop Order converts into a Market Order and fills at the best available price. The same trigger-price concept also underlies Stop-Limit Orders.