A Stop-Limit order will be executed at a specific ( or potentially better) price, after a certain Stop price has been reached. When the Stop price is reaches, the Stop -Limit order becomes a limit order to buy or sell at the stipulated price as a limit or at the best price.
Explanation of Terms:
Stop Price: When the current price reaches the Stop price determined, the Stop-Limit order is executed to buy or sell at the limit price or better.
Limit Price: The price (or potentially better) in which the Stop-Limit order is executed.
Quantity: The quantity to buy or sell in Stop-Limit Order.
Suppose the last ETC traded price is $65, and the resistance is about $69. If you think the price will rise after the price reaches resistance, you can place a Stop-Limit order for automatically buy more ETC at a price of $70. That way, you will not have to continually monitor the market movements expecting the price to reach its target price.
Approach: Select the "Stop-Limit" order, and specify the Stop price as R$ 70 and the limit price as R$72, with the quantity as 10 units. Then click the "Buy ETC" button to launch the order.