A Stop Quick Order allows users to set a Stop Price, which is the price level at which the order will become active. When the market price reaches the specified Stop Price, the system will automatically place a Quick Order immediately to match the order as quickly as possible at the market price available at that time.
- Stop Price refers to the price level that triggers the system to place the order.
- Quick Order refers to an order that is placed immediately to buy or sell as quickly as possible.
This order type is suitable for situations where users want to buy or sell immediately once the price reaches a specified level, with a focus on speed rather than precise price control.
Using Stop Quick BUY
Scenario: The current market price is THB 95.
The user wishes to buy immediately if the price falls to THB 90, as the user considers THB 90 to be an attractive buying level. The user sets the order as follows:
- Stop Price = THB 90
Result: When the market price falls to THB 90, the system will automatically place a Quick Buy Order immediately, in order to match the order at the market price available at that time.
In case of high market volatility
If the market price moves very quickly or becomes highly volatile, the actual execution price may be higher than the price expected by the user.
To help prevent the user from buying at a price that is too high, the system will check the order against the specified Slippage Tolerance.
If the market price volatility exceeds the Slippage Tolerance, the system will not continue placing the Quick Buy Order immediately. Instead, the order will be converted into a Limit Order, using a price calculated from the Stop Price plus the Slippage Tolerance.
Using Stop Quick SELL
Scenario: The current market price is THB 100.
The user wishes to sell immediately if the price falls to THB 95, in order to reduce the risk of further losses. The user sets the order as follows:
- Stop Price = THB 95
Result: When the market price falls to THB 95, the system will automatically place a Quick Sell Order immediately, in order to match the order at the market price available at that time.
In case of high market volatility
If the market price drops very quickly, the actual execution price may be lower than the price expected by the user.
To help prevent the user from selling at a price that is too low, the system will check the order against the specified Slippage Tolerance.
If the market price volatility exceeds the Slippage Tolerance, the system will not continue placing the Quick Sell Order immediately. Instead, the order will be converted into a Limit Order, using a price calculated from the Stop Price minus the Slippage Tolerance.
Suitable Use Cases
- Emergency Cut Loss: Suitable for situations where the user wants to exit the market immediately once the price falls to a specified level, such as during a sharp price decline or an unexpected market event. This may help reduce the risk of further losses.
- Dip Buying: Suitable for situations where the user wants to buy immediately when the price falls to a level considered attractive, without having to place the order manually.
- Highly Volatile Markets: Stop Quick is suitable for market conditions where prices move quickly and the user wants the system to place an order as soon as the price reaches the specified condition.