What Is a Stop Order for US Stocks on Pluang?
A Stop Order stays dormant until the market price reaches a level you set — the stop price — and then converts into a Market Order that fills at whatever price is available at that moment. It is a way to act on a price movement automatically instead of watching the market yourself: you can use it to enter a position once a stock breaks above a level, or to exit one once it falls below a level. Because it becomes a Market Order once triggered, execution is effectively assured but the fill price is not guaranteed and can differ from your stop price, particularly when the market is moving fast. For example, with the market at $90.00 and a stop price of $110.00, the order sits inactive until the price touches $110.00 and then fills at whatever the market offers. Stop Orders support DAY or GTC validity and work during Regular Market hours only.
- How it works: dormant until the market price reaches your stop price, then it converts into a Market Order
- Fill price is not guaranteed: as a Market Order it takes whatever price is available, which can differ from your stop price
- What it is for: entering a position on a breakout or exiting one on a breakdown, without watching the market yourself
- Worked example: market at $90.00 with a stop price of $110.00 — the order activates at $110.00 and fills at whatever the market offers
- Validity: DAY (until the next market close) or GTC (up to 30 calendar days); validity cannot be changed after placement
- Hours: Regular Market hours only — the 24-Hour Market's extended sessions accept Limit Orders exclusively
Related questions:
Q: How does a Stop Order differ from a Stop-Limit Order?
Both wait for the same trigger, your stop price, but they turn into different things. A Stop Order becomes a Market Order, so it fills quickly at an unpredictable price. A Stop-Limit Order becomes a Limit Order capped at a limit price you also set, so you control the worst price you will accept but risk the order never filling if the market races past your range.
Q: Can I use a Stop Order in the 24-Hour Market?
No. Stop Orders are restricted to Regular Market hours, which run 21:30–04:00 WIB in standard time and 20:30–03:00 WIB during US Daylight Saving Time. The Overnight, Pre-Market, and Post-Market sessions accept Limit Orders only, so a stop-style order has to wait until the Regular Market session opens before it can be placed at all.
Q: Why might my Stop Order fill at a different price from my stop price?
Because the stop price is only the trigger, not the fill price. Once it is touched, your order becomes a Market Order and takes the best price available at that moment, which can sit above or below your stop level depending on how the market is moving. In a fast-moving or thinly traded stock that gap can be meaningful, which is the main trade-off you accept when you choose a Stop Order over a Stop-Limit Order.
Q: What validity periods can a Stop Order use?
DAY, which keeps the order active until the next market close, or GTC, which keeps it active for up to 30 calendar days. You cannot change the validity once the order has been placed, so if you picked the wrong one, cancel the order and submit a new one with the setting you intended. GTC orders must also be placed in whole shares.