An attached order (also known as "child order") refers to an order attached to a current order (also known as "parent order" and used to open a position) and used to close the position. An attached order is submitted only after its parent order is fully filled and a specified trigger price is met, thus achieving the purpose of closing positions. By creating an attached order for taking profit or stopping loss when placing a parent order, clients can better control trading risks.
You may select None, Profit Taker, Stop Loss, or Bracket in the drop-down list. No attached order will be placed by default.
● Profit Taker Order
A profit taker order is a special limit order with an opposite direction to the parent order but the same symbol and quantity as those of the parent order. Its trigger price is called Profit Taker Limit Price. A profit taker order is submitted only after the trigger price is met and the parent order is fully filled.
A stop loss order is a special Stop market order with an opposite direction to the parent order but the same symbol and quantity as those of the parent order. Its trigger price is called Stop Loss Stop Price. A stop loss order is triggered only in the Continuous Trading Session, and submitted after the parent order is fully filled and the trigger price is met.
● 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’s trigger price is hit first. When one order fills, the other is cancelled automatically.
Profit Taker Limit Price
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.
Stop Loss Stop Price
The stop loss stop price is the trigger price of a stop loss order. When the parent order is fully filled, a Stop market 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 (Good-Til-Cancelled). When a parent order is fully filled, the time-in-force for its attached order will take effect.
Let's say you place a limit order to buy 100 shares of stock XYZ at 18 per share when the market price is 20 per share, then you attach a bracket order at a profit taker limit price of 25 and a stop loss stop price of 10. After the parent order is fully filled due to market volatility, the market price of stock XYZ will 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, and a limit order will be submitted to sell 100 shares of stock XYZ at the price of 25. In the meanwhile, the stop loss order will be cancelled automatically. If the profit taker order is fully filled before expiration, all positions resulting from the parent order will be closed out.
1. A parent order is either a sell short order or buy order. A sell short order will be declined if you have positions to sell, and a buy order will be declined if you have positions to buy back.
2. Risk assessment of an attached order is conducted only after the parent order is fully filled and the trigger price of the attached order is met. If either child order in a bracket does not pass the risk assessment, both child orders will fail to execute.
3. After a parent order is fully filled, the resulting positions will not be frozen. However, if you execute any other trade that leads to a change in your positions, the triggered attached order may fail due to insufficient positions.
4. When a child order in a bracket order is cancelled or declined for any reason, the other child order will also be cancelled or declined.
5. If you modify the quantity of a parent order before it is fully filled, the quantity of its attached order will be automatically modified to the same amount.
6. A profit taker and stop loss order will only be triggered during the Continuous Trading Session and will not be triggered during the Pre-opening Session.
7. If a parent order is not fully filled before it expires, its attached order will be cancelled automatically upon the expiration.
8. If a parent order is cancelled, both attached orders will be cancelled automatically.
9. If a parent order is deleted, both attached orders will be deleted automatically.
Attached Order is an advanced order type provided by Futu AU for the client's convenience. While Futu AU endeavors to provide reliable trading services, there can be no guarantee to the absolute reliability of the order algorithm. Futu AU shall not be held liable for any loss or damage arising from any failure to execute an order due to network interruption, server abnormality, and other factors beyond its control.