Open conditional orders will convert into open limit or market orders when a certain stop condition is met. For example, a stop market buy order with a stop @ 11,000 Index, will convert into a market buy order when the index price crosses 11,000.
On Thalex the following conditional orders are available: Stop limit, Stop market, Bracket & Trailing stop. All our order types are further elaborated here.
All active conditional orders can be found in the "Cond. Orders" tab.
All converted or cancelled conditional orders can be found in the "Cond. History" tab.
The content of both the "Cond. Orders" and "Cond. History" tab is shown below:
- The open conditional orders tab (Cond. Orders) displays the following information.
Side: Shows the direction of the order, Buy or Sell
Instrument: The instrument corresponding with the open conditional order
Size: The size, displayed in the amount of contracts, corresponding with the open conditional order
Stop: the stop price, also known as the trigger price, where the conditional order is converted into an open order. When the trigger price is reached, stop-market order convert into market order and stop-limit order convert into limit orders.
Limit: The limit price of the open conditional order
Bracket: This is the take profit stop price of the bracket conditional order.
Trailing rate: This is the callback rate of the “Trailing stop” conditional order.
Status: The status of the conditional order, this can only be active.
Time: The time the conditional order was registered in our system. Order execution takes time priority into account, Causing the oldest orders to be executed first.
Reduce: Specifies if the order contains “Reduce-Only” functionality. Allowing the total position in the corresponding instrument to only be reduced to 0, regardless of the initial order size
Cancel all: If pressed, all open conditional orders are cancelled
Cross symbol: If pressed, it cancels the corresponding conditional order.
- The open conditional orders tab (Cond. Orders) displays the following information.
Side: Shows the direction of the order, Buy or Sell
Instrument: The instrument corresponding with the open conditional order
Size: The size, displayed in the amount of contracts, corresponding with the open conditional order
Stop: the stop price, also known as the trigger price, where the conditional order is converted into an open order. When the trigger price is reached, stop-market order convert into market order and stop-limit order convert into limit orders.
Limit: The limit price of the open conditional order
Bracket: This is the take profit stop price of the bracket conditional order.
Trailing rate: This is the callback rate of the “Trailing stop” conditional order.
Status: The status of the conditional order, this can only be “cancelled” or “converted“.
Time: The time the conditional order was executed or cancelled in our system.
Reduce: Specifies if the order contains “Reduce-Only” functionality. Allowing the total position in the corresponding instrument to only be reduced to 0, regardless of the initial order size