Conditional Orders on PRO

Jun 01, 2022

CONDITIONAL ORDERS

Conditional orders allow you to preset the conditions that will trigger the purchase or sale of stocks, so you can execute your plan precisely even when you are not watching the market. 

Learn more about Conditional Orders HERE.


FREQUENTLY ASKED QUESTIONS:

Can we use Conditional Orders for free?
Yes. Stop Limit and Limit-if-Touched are available on FirstMetroSec NEW, GO, and PRO, while Order-Cancels-Other and Order-Triggers-Other are available on PRO only.

What happens once my Conditional Order gets triggered?
Once your conditional order has been triggered, the resulting limit order will be posted. It has to be filled until the remaining time/days of your trigger expiry.
 
For example, your Stop Limit with a GTW Trigger Expiry has been triggered. Your limit order will be activated and shall remain open for matching until the remaining days of the GTW.

Can I cancel a Conditional Order?
Yes. During trading hours, conditional orders can be cancelled in the Conditional Orders Tab, as long as they have not been triggered yet.

How to set the Limit Price and Target Price?

	BUY	SELL
Stop Limit	Trigger Price > Last Price   The placement of the Limit Price depends on your strategy: Limit > Trigger if you want to improve the chance of your order getting filled Limit = Trigger if neutral Limit < Trigger if you are waiting for a pullback	Trigger Price < Last Price   The placement of the Limit Price depends on your strategy: Limit < Trigger if you want to improve the chance of your order getting filled Limit = Trigger if neutral Limit >Trigger if you are waiting for a bounce
Limit-if-touched	Trigger Price < Last Price   The placement of the Limit Price depends on your strategy: Limit > Trigger if you want to improve the chance of your order getting filled Limit = Trigger if neutral Limit < Trigger if you are waiting for a pullback	Trigger Price > Last Price   The Limit Price depends on your strategy: Limit < Trigger if you want to improve the chance of your order getting filled Limit = Trigger if neutral Limit > Trigger if you are waiting for a bounce
Oder-Cancels-Other	Stop Limit: Trigger Price > Last Price   LIT: Trigger Price < Last Price   The placement of the Limit Price depends on your strategy	Stop Limit: Trigger Price < Last Price   LIT: Trigger Price > Last Price   The placement of the Limit Price depends on your strategy.
Order-Triggers-Other	Buy (Primary) Limit Price: Any price, depending on your strategy   Sell (Secondary) Limit Price: Higher than the Buy Price	Sell (Primary) Limit Price: Any price, depending on your strategy   Buy (Secondary) Limit Price: Lower than the Sell Price

How do I know the status of my Stop Limit Order?
How do I know the status of my stop limit order? 
To check the status of your pending Stop Limit orders on FirstMetroSec PRO, go to TRADE > CONDITIONAL ORDERS:

P – Pending: stock has not hit your Trigger Price
T –  Triggered: stock has hit your Trigger Price
X – Rejected: system has rejected your order
 
Then, to check the status of the limit orders after getting triggered, go to Trade > View Orders:
O – Open: posted order
PF – Partially Filled: partial volume has been matched
C – Cancelled
F – Filled: matched order
X – Rejected
Q – Queued: prompts before order is processed
PRC – Processing: order is being sent to/acknowledged by the Exchange