What Is a Stop-Limit Order for US Stocks on Pluang?
A Stop-Limit Order combines two price levels. You set a stop price, which acts as the trigger, and a limit price, which caps how far you will let the fill go. While the market sits away from your stop price the order is dormant. Once the market price touches the stop price, the order activates as a Limit Order, and from then on it can only fill between the stop price and the limit price. On a buy, the limit price is the highest you are willing to pay; on a sell, it is the lowest you will accept. Like any Limit Order this guarantees the price but not the execution — if the market jumps clean past your limit before you fill, the order simply does not execute. For example, a stop price of $100.00 with a limit price of $105.00 fills only between those two figures once $100.00 is touched.
- Two price levels: the stop price triggers the order and the limit price caps how far the fill can go
- Once triggered: it becomes a Limit Order and fills only between the stop price and the limit price
- Buy versus sell: on a buy the limit is the most you will pay; on a sell it is the least you will accept
- Price guaranteed, execution not: if the market races past your limit before filling, the order does not execute
- Worked example: stop $100.00 and limit $105.00 — the order activates at $100.00 and fills only between $100.00 and $105.00
- Validity and hours: DAY or GTC, Regular Market hours only — not available in the 24-Hour Market's extended sessions
Related questions:
Q: What is the point of setting two prices instead of one?
The stop price decides when you want to act and the limit price decides how much you are willing to pay for acting. A plain Stop Order only answers the first question and then accepts any price the market offers. Adding a limit price puts a ceiling on a buy or a floor on a sell, so a sudden move cannot fill you at a price you never intended.
Q: What happens if the price shoots straight past my limit price?
The order does not execute. Using the standard example, if your stop is $100.00 and your limit is $105.00 and the price jumps from $99.00 to $110.00 without pausing in between, the order activates but never finds a fill inside your range. It stays open until its validity expires, at which point any reserved balance is returned automatically.
Q: How do I choose between a Stop Order and a Stop-Limit Order?
It comes down to which risk bothers you more. Choose a Stop Order when getting filled matters most and you can live with an unpredictable price. Choose a Stop-Limit Order when the price matters most and you would rather not be filled at all than be filled badly. Neither order type is available outside Regular Market hours on Pluang, so in both cases the trigger can only fire while the Regular Market session is actually running.
Q: Can I place a Stop-Limit Order in the 24-Hour Market?
No. Only Limit Orders are accepted in the Overnight, Pre-Market, and Post-Market sessions, and always with DAY validity. Stop-Limit Orders, Stop Orders, Market Orders, and Stop Loss or Take Profit are all confined to the Regular Market session, which runs 21:30–04:00 WIB in standard time and one hour earlier during US Daylight Saving Time. You would need to wait for that session to open before placing one.