Moomoo's Feature Challenge 9: Meet your goals and risk tolerance with Order Types
Hey, mooers! Welcome back to Moomoo's Feature Challenge, where we help you master powerful tools on moomoo and take on quiz challenges to win rewards!🏆
As traders, we know that managing risk is crucial to success. That's why we offer a variety of order types to help you achieve your trading objectives while staying within your risk tolerance. With the limit, market, and other advanced order types, you can execute your trades with precision and confidence. So why wait? Start exploring our order types today and take control of your future trading!📈
🙋What is Order Types
Order Types is a feature that automatically assists users in tracking stock increases, locking in profit, and reducing losses while allowing traders to set their own goals and risk tolerance. Trailing stops can move with the stock price, providing flexibility to capture more gains while still protecting against sudden downturns.
👋 How to access Order Types
At moomoo, we offer a comprehensive range of Order Types, such as limit, market, stop-loss, limit-if-touched, trailing-stop, and attached orders, to cater to your trading needs. To help you navigate through these options with ease, we offer detailed guidance on each of them. Let's check it together!
1. How to Facilitate Your Trading with Order Types
Tap on stock>Order Type and choose between two and six advanced order types, helping you plan an order with more control, efficiency, and flexibility.
2. Taking Control of Your Trades with Limit Orders
Select Limit in Order Type and enter Price and Quantity. Limit Orders allow you to buy or sell a stock at a specific price or better.
3. Market Orders Help Trade with Immediacy
Select Market in Order Type and type in Quantity to place a market order, which allows you to trade your stock at the next available price.
4. Stop-Loss Orders Help Avoid Major Losses
If you hold a stock and want to cap your potential losses, you may select Stop Limit in Order
Type and enter Trigger Price, Price, and Quantity to place a stop-limit order.
Your stock will be automatically sold at the set price and quantities to help you stop losses when the stock falls to the trigger price.
5. Limit-If-Touched Orders Help Lock In Profits
If we hold stock and want to lock in profits, you may select Limit-If-Touched in Order Type and enter Trigger Price and Price to place a limit-if-touch order.
Your stock will be sold at the set price or better when the stock rises to the trigger price.
6. Trailing-Stop Orders Help Potentially Boost Gains While Limiting Losses
A trailing-stop order can limit losses and maximize gains in sideways markets. The stop price goes up by the trailing amount/ratio as the stock rises, while a sell order is triggered if the trend reverses and the stock falls by the set amount/ratio.
7. Attached Orders Help Control Your Trades with Precision
To limit your losses and secure profits in your trades, try using an Attached Order.
This feature allows you to attach a Profit-Taker, Stop-Loss, or Bracket order to your market or limit order.
If the Profit Taker Limit Price or Stop Loss Price is reached, the attached order is automatically submitted.
Case Study💡
Suppose we buy Tesla at $250, and place a 10% trailing stop order of the stock to minimize the risk of losses. If the stock price falls by 10% to $225 after the trailing order is placed, a sell order will be triggered, and the shares you hold will be sold at the market price or the set limit price.
But if the stock goes up after you place that trailing order, the stop price rises correspondingly by the trailing ratio. Suppose the stock starts falling to $270 after hitting $300, a 10 decline, a market or limit sell order will be placed to help you lock in profits.
🎁 Feature match game
Choose the correct benefit of the Order Types and write your answer in the comments! The correct one will win 10 points!
A. Spot high-dividend stocks.
B. One-click identification of top Shariah-compliant stocks.
C. Meet your goals and risk tolerance.
D. Tracking stock ratings, target prices, and top-performing analysts.
🌟 Share your setup and win extra rewards
How do you utilize Order Types effectively?
- Share your preferred setup of Order Types and drop the screenshot in the comments;
- Attached with your reason.
Every mooer who shares it will receive another 30 points!
📆 Duration: From 11:59 AM 14th May 2024 to 11:59 AM 20th May 2024. Don't hesitate to drop your answer now!
🗳️ Your Feedback Matters!
Thanks for joining us on this journey, and we can't wait to see you again soon. Keep moving on with moomoo!💃
💡 Explore our previous feature challenges here:
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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101845486 : c
WanEH : my answer is C. Meet your goals and risk tolerance.
mr_cashcow : The correct answer is C. Meet your goals and risk tolerance
My goal/reason for limit order is for Nvidia to hit the sweet price of 1.2k
WanEH : my answer is c:
ya I like to use stop loss order to set the maximum risk I can accept. by using this I no need monitor all days and it help to limit my losses and save my time and energy
quekky : c
sociable Dingo_8604 : Answer: c
LCS168 : answer is C. Meet your goals and risk tolerance.
i use limit order GTC to queue buy and sell so that it can match automatically. i no need to observe it everyday.
101730063 WanEH: Huat
KHFong : My answer is C.
103637343 : Answer is C - Meet your goals and risk tolerance.
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