An attached order (also known as "child order") refers to an order attached to a current order (also known as "parent order") and is used for closing positions. The attached order will be submitted only after a specified trigger price is met and the parent order is fully filled, thus achieving the purpose of closing positions.
Attached Order
You may select None, Profit Taker, Stop Loss, or Bracket in the drop down box. No attached order will be placed by default.
● Profit Taker Order
A profit taker order is an opposite side limit order attached to the parent order and has the same symbol and quantity as those of the parent order. The profit taker limit price is used to close a profitable position. A profit taker order will be submitted only after the specified profit taker limit price is met and the parent order is fully filled.
● Stop Loss Order
A stop loss order is a type of stop order used to limit the loss. It is an opposite side order attached to the parent order and has the same symbol and quantity as those of the parent order. Stop loss orders will be triggered only in the regular trading hours and submitted after the specified stop loss stop price is met and the parent order is fully filled.
● Bracket Order
A bracket order is comprised of a profit taker order and a stop loss order. Once the parent order fills, either a profit taker or stop loss order will be triggered depending on which order meets the trigger price first. When one order fills, the other is cancelled automatically.
The profit taker limit price is the trigger price of a profit taker order. When the parent order is fully filled and the market price meets the specified profit taker limit price, a limit order at the specified price will enter the market automatically.
The stop loss stop price is the trigger price of a stop loss order. When the parent order is fully filled, a stop order will be submitted automatically. When the market price meets the specified stop loss stop price, a stop loss order will be triggered and enter the market.
The time-in-force for an attached order can be Day or GTC. When the parent order is fully filled, the time-in-force for the attached order will take effect.
Let's say you place a limit order to buy 100 shares of Stock XYZ at 18 USD per share when the market price is 20 USD per share, then you attach a bracket order at a profit taker limit price of 25 USD and a stop loss stop price of 10 USD. After the parent order is fully filled in times of market volatility, the market price of Stock XYZ ill be monitored automatically to see if the market price has met the profit taker limit price or stop loss stop price.
If the market price reaches the profit taker limit price first, a profit taker order will be triggered by submitting a limit sell order to sell 100 shares of Stock XYZ at the price of 25 USD In the meanwhile, the stop loss order will be cancelled automatically. If the profit taker order is fully filled before the order expires, all the positions resulting from the parent order will be closed out.
Let's say you place a limit order to sell short 100 shares of Stock XYZ at 20.1 USDper share when the market price is 20 USD per share, then you attach a stop loss order at a stop loss stop price of 23 USD After the parent order is fully filled in times of market volatility, the market price of Stock XYZ ill be monitored automatically to see if the market price has met the stop loss stop price
If the market price reaches the stop loss stop price of 23 USD a stop loss order will be triggered by submitting a market order to buy back 100 shares of Stock XYZ If the stop loss order is fully filled, the positions resulting from the parent order will be closed out.
Disclaimers
Moomoo AU offers attached orders as a convenient online trading method for customers. While we strive to provide stable services, we cannot guarantee absolute reliability. In the event that an order is wrongly executed or not executed due to factors such as network interruptions or server abnormalities, we will not be liable for any resulting loss or damage.