We are pleased to announce that stop limit orders are now supported by BitMEX.
What Is A Stop Limit Order
A buy stop limit order will trigger when the mark price is at or above the stop limit price. When it triggers, an order with the limit price specified will be placed into the order book.
A sell stop limit order is the opposite. It will trigger when the mark price is at or below the stop limit price. At that point an order with the limit price specified will be placed into the order book.
Stop Limit Buy Example
A trader is short 10 contracts at a price of $100. He submits a stop limit buy order of Quantity = 10, Limit Price = $111, Stop Limit Price = $110. If the mark price is equal to or above the stop limit price of $110, then the trading engine will submit a buy order for 10 contracts with a limit price of $111.
Use this order type as a risk management tool to limit losses on short positions when the market rises.
Stop Limit Sell Example
A trader is long 10 contracts at a price of $100. He submits a stop limit sell order of Quantity = 10, Limit Price = $89, Stop Limit Price = $90. If the mark price is equal to or below the stop limit price of $90, then the trading engine will submit a buy order for 10 contracts with a limit price of $89.
Use this order type as a risk management tool to limit losses on long positions when the market falls.
Placing Stop Limit Orders
Basic UI
On the Order Controls panel choose the Stop Limit tab. Then input a quantity, limit price, and stop price.
Advanced UI
On the Order Controls panel choose the Stop Limit tab. Then input a quantity, limit price, and stop price.
Stop Limit Order Management
Once a stop limit order has been placed, it will appear in the Stops tab.
Status:
Untriggered – The mark price has not reached a level to trigger the stop limit order.
Triggered – The mark price has reached a level to trigger the stop limit order but no orders have been filled.
Filled – The stop limit order has been triggered and the orders have been filled.
Users may cancel stop limit orders by clicking the cancel button.