Good til cancelled order

[wixy24]

Hi - can i just check my understanding here...if i place a GTC order to sell on a specific forex pair at 18941 with a stop loss at 19000 and the price goes up and beyond 19000, then the GTC is not triggered? It will only trigger at my sell (or buy) price?

New to trading and not used orders previously : )

[Caseynotes]

16 minutes ago, wixy24 said:

Hi - can i just check my understanding here...if i place a GTC order to sell on a specific forex pair at 18941 with a stop loss at 19000 and the price goes up and beyond 19000, then the GTC is not triggered? It will only trigger at my sell (or buy) price?

New to trading and not used orders previously : )

Hi, not sure if I'm understanding you right, a GTC (Good til you Cancel the order) just replaces an order that is automatically canceled at the end of day so it will stay in waiting on your chart. If price tags the sell order level 18941 then the order is triggered and the short is initiated, if price then moves up and tags 19000 then the stop loss will trigger and the trade closed out.

[wixy24]

Thank you for the prompt reply. Sorry, should have said, if in my example, the GTC sell order is not triggered at 18941, but the price moves beyond the stop loss at 19000, then the fact that the price has moved beyond the stop loss would not also trigger the GTC ?

[Caseynotes]

2 minutes ago, wixy24 said:

Thank you for the prompt reply. Sorry, should have said, if in my example, the GTC sell order is not triggered at 18941, but the price moves beyond the stop loss at 19000, then the fact that the price has moved beyond the stop loss would not also trigger the GTC ?

no the the limit or stop sell order needs to be triggered first for the stop loss to become activated.

[wixy24]

Much appreciated