Stop request in Quik

Stop request in Quik

Stop request in Quik

The QUIK trading system provides an opportunity to operate transactions by means of stop orders. A stop order in QUIK is an order from a financial market participant that has additional conditions that determine the moment of entering the vehicle (trading system).

All existing conditional requests are sent to the server hardware of the QUIK system and stored until the specified conditions are met. The QUIK server constantly monitors the execution of stop orders for their triggering. As soon as its execution time expires, the system gives a signal to the exchange to activate the limited order.
Types of conditional requests

Let's look at what types of conditional requests exist. The QUIK program offers traders the following types of conditional orders:

Conditional orders Stop Limit.
Conditional Take Profit orders.
Conditional request Stop Limit and Take Profit.
A conditional stop request with a related request.

We will consider each application separately.
Conditional orders Stop limit

This stop order in QUIK is used to limit losses. In turn, you need to set three parameters in its settings:

Select the type (for purchase or sale).
Set the price of the condition.
Set the bid price. If the price of the condition is met, a regular request will be sent to the exchange. It is noteworthy that the actual price should differ from the price of the condition for the worse, since there is a small delay between triggering the conditions and sending the request.

A stop order for sale is triggered only when the price moves below the price condition. In other words, this request must be higher than the price of the condition.

Let's take the example of the Stop limit of a sales order. Let's assume that a participant of the exchange bought USD at the price of 65 rubles/$. In order to sell more expensive. He set the price limit at 63 rubles/$.

To activate this restriction, it sets a stop limit on sell with a price of 63 rubles/$. And also at the price of 62.95 rubles/$. Thus, if the price moves below the level of 63 rubles/$, then a simple limited order for sale at the price of 62.95 rubles/$will be triggered.

Now let's look at an example of a stop limit order for a purchase. One of the exchange participants decided to sell USD at 64 rubles/$. And he's waiting for an even bigger price cut. The trader thinks to limit losses at the level of 65 rubles/$.

Thus, it needs a stop order in QUIK for a purchase with an activation price of 65 rubles/$., as well as a price of 65.05 rubles/$. As a result, if the price rises above 65 rubles/$, then the exchange will receive a limited order for buy 65.05 rubles/$.
Conditional Take profit orders
This type of order is used by the participants of the exchange market in order to fix the profit in time.

Note that a stop order in QUIK of this type helps out in cases when the price moves in the right direction for the trader and he knows in advance where, approximately, the price can reach.

We emphasize that the Take Profit stop order has 4 parameters:

Bid price.
Protective spread. It is set in points or price units, or as a percentage. This sub-item is necessary to avoid slippage in the market.
Select the type of request (for purchase or sale).
Offset from the maximum. Set as a percentage or in price units.

A simple limited order is sent to the exchange as soon as the quotes reach the order and immediately bounce off the set price level. However, it is somewhat worse for us, since the size of the protective spread is taken into account.

Let's write down all the steps for the Take Profit request:

The actual price of the asset reaches the price of the conditional order, which is set at the maximum of the price move.
After activating the first step, the price bounces from the reached goal by a distance exceeding the deviation from the maximum. In parallel, the server receives a simple limited order at the worst rate for the trader, since it takes into account the size of the protective spread.

Let's look at a separate example of a take profit request.

Let the creation of a stop order take profit for sale will be at the rate of 79. the Protective spread and the deviation from the maximum set 1 ruble. At first, the dollar exchange rate was observed at 78 rubles.

Then the price began to grow rapidly, showing us a new value-81. This exceeds the price at which our application was opened. Then the rate dropped to 80.1. After a while, it dropped even more, to 76.

Then the market will receive a regular limited order at the price of 75. Why, because it still takes into account the deviation from the maximum value.
Conditional request Stop Limit and Take Profit

This stop order includes two more orders. One is a Take Profit, and the other is a Stop Limit.

After one request is triggered, the second one must be deleted. In other words, when a Take Profit is triggered, the trader will be in profit. When the Stop Limit request is triggered, then there is a loss. There is no point in the second request if the first one was activated. It will be automatically removed.

If one bid is partially triggered, the number of lots in the second bid is reduced by the number of triggered lots.
Conditional stop request with a related request
This type of stop order gives you the right to create a Stop Limit order, as well as a classic limit order.

The same rule applies here: when one is triggered, the second one is simply deleted. If one bid is triggered, the number of lots in the second bid will decrease by the number of triggered lots.

Using conditional Take Profit orders, you can close previously opened stop orders, as well as open new positions.

It is most convenient to open them using conditional Take Profit orders. As part of the recoilless movement of quotations, you can open a deal at a favorable price in any of the parties.
Important!

If a stop order is being considered in QUIK for a purchase, it is advisable to set a price at which the purchase will be made 2-3 points higher than the stop price. So the request must be fulfilled if the price shows growth in the future.

To enter a stop order for sale, it is better if the bid price is set 2-3 points less than the stop price.

Always compare the type of stop order and the direction of the current price several times. This will allow you to avoid entering stop orders at the current prices in the future.

How do I move a stop request in Quick if, for example, I need to leave urgently? This is done simply. The expiration date is set, taking into account the absence of the trader, and then a bird is placed in the "Transfer request" window. In other words, it will be transferred every new day until the expiration date expires.
No less relevant is the question of how to remove a stop request in QUIK?

Note that you can do this using a hotkey. Open the "table of stop orders" and select the line with our stop order that needs to be deleted. In the "Status" column, it should be active. Press the keys (Ctrl+D) and the selected conditional request will be immediately removed.

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