Stop Orders Guide

What is a Stop Order?

If you want to set a ‘Buy’ or ‘Sell’ request but there is no market price that you expect, then you may use a stop order. In fact, you can place an order and set a specified price that should be reached to get the order matched. The price thus set is called a Stop Price. After the Stop Price is reached, your Stop Order generates a Child Order (Limit Order, Market Order or Passive only Order).

You can practice the Stop Orders on the UAT environment via the link https://uat.zubr.io/trade.

Once you are ready to join the live trading and use the Stop Orders, access the Production environment via the link https://zubr.io/trade. 

How to place Stop Orders?

Open the ‘Stop Order’ entry form.

There are three types of Stop Orders currently available at ZUBR exchange: Stop Loss, Take Profit and Trailing Stop. 

Take Profit Orders

To use the Take Profit option, take the following steps:

Set the Stop Order parameters:

• Stop Order type - Take profit
• Type in a particular Trigger Price that you wish to set or use the slider to set the Trigger Price.
• The “Instrument” and “Currency” fields will be chosen automatically and reflect the selected trading pair.
• Tick the price that will work as the Stop Price for your order: Mark Price, Best Bid/Ask, or Last Trade. 
• Tick the Child order parameters: Limit, Market or Passive Only.
• Select Order Type  (GTC, IOC or FOK)
• Enter the order Quantity
• Set the price
• Select Buy button if you wish to open a long position or if you hold a short position and wish to close it

  Select Sell button if you wish to open a short position or if you hold a long position and wish to close it

Stop-Loss Orders

To use the Stop Loss option, please, take the following steps:

Set the Stop Order parameters:

• Select Stop Order type - Stop Loss
• Type in a particular Trigger Price that you wish to set or use the slider to set the Stop Price.
• The “Instrument” and “Currency” fields will be chosen automatically and reflect the selected trading pair.
• Tick the price that will work as the Stop Price for your order: Mark Price, Best Bid/Ask, or Last trade. 
• Tick the Child order parameters: Limit, Market or Passive Only.
• Select Order Type  (GTC, IOC or FOK)
• Enter the order Quantity
• Set the price
• Select Buy button if you wish to open a long position or if you hold a short position and wish to close it

  Select Sell button if you wish to open a short position or if you hold a long position and wish to close it

Trailing Stop Orders

To use the Trailing Stop option, please, take the following steps:

Set the Stop Order parameters:

• Choose ‘Trailing Stop’ in the drop-down menu
• Set the Slippage Protection Spread that you want to use. 
• Set the Trailing Distance 
• The “Instrument” and “Currency” fields will be chosen automatically and reflect the selected trading pair.
• Tick the price that will work as the Stop Price for your order: Mark Price, Best Bid/Ask, or Last Trade.
• Tick the Child order parameters: Limit, Market or Passive Only.
• Select Order Type (GTC, IOC or FOK)
• Enter the order Quantity
• Select Buy button if you wish to open a long position or if you hold a short position and wish to close it

  Select Sell button if you wish to open a short position or if you hold a long position and wish to close it

All open Stop Orders are placed in the ‘Stop Orders’ section:

Once market conditions meet the parameters of the Stop Order, it gets executed and the Limit Order appears in the ‘Open Orders’ section.

Terms and Definitions

Take Profit Orders

The aim of the Take Profit Order is to let you set a desirable price while trading on ZUBR. Once the price is reached, the Take Profit Order will be immediately executed and your position will get closed for a profit.

Stop-Loss Orders

Stop-Loss Orders allow you to limit your losses as well as reduce the risk amount. 

The execution of the order happens once the price of the asset falls to the particular Stop Price. The purpose of such orders is to minimize your loss on a position.

Trailing Stop Orders

A Trailing Stop Order is created to regulate the Stop Price at a certain number of points below or above the market price of an asset.

Let’s describe this type of order for both ‘Buy’ and ‘Sell’ requests. 

If you set a buy trailing stop order, the Stop Price will follow the lowest price of the asset by the trail that was applied. But at the moment the asset rises above its lower price by the trail, then it transforms into a Buy Limit Order. After that, the asset will be bought at the best price available.

In contrast, when a sell trailing stop order is set, the Stop Price will follow the highest price of the asset by the trail that was applied.

But at the moment the asset falls below its highest price by the trail, then it transforms into a Sell Limit Order. After that, the asset will be sold at the best price available.

Trigger Price - the particular price that triggers the execution of a stop order. 

Mark Price - the specific price set to value a contract at every moment of trading activity.

The Mark Price is always shown in the upright position of the ZUBR trading frontend:

Best bid/ask price - the bid price is the highest price a trader is ready to pay for a contract right now. In contrast, the ask price is the lowest price a trader is eager to sell a contract for/to set for selling a contract.

Last trade price - is the price of the last execution at ZUBR. It is shown in the middle of the Orderbook or in the Trade History of the frontend.

Best Bid and Ask are shown in the middle of the ZUBR Orderbook.

Slippage protection spread - the spread set to protect you from unexpected execution prices in case of significant price movements.

Trailing distance - the distance the order rate follows the market at.