ConceptsOrders
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Stop-Limit
FIX OrdType <40>=4 (Stop Limit)
A Stop‑Limit order releases a Limit order at the specified price when its trigger price is reached.
Use cases
Use a Stop‑Limit order when a stop trigger must also enforce a worst acceptable fill price, such as for a price‑protected exit or breakout entry. If the market gaps through both the trigger and limit, the order may not fill and can leave a position unprotected.
Example
The following example creates a Stop‑Limit order on the Currenex FX ECN to BUY 50,000 GBP at a limit price of 1.3000 USD once the market reaches 1.30010 USD. The order expires one hour after creation:
use nautilus_model::{
enums::{OrderSide, TimeInForce, TriggerType},
identifiers::InstrumentId,
types::{Price, Quantity},
};
let expire_time = self.clock().timestamp_ns() + 3_600_000_000_000_u64;
let order = self.order().stop_limit(
InstrumentId::from("GBP/USD.CURRENEX"),
OrderSide::Buy,
Quantity::from(50_000),
Price::from("1.30000"),
Price::from("1.30010"),
Some(TriggerType::BidAsk), // optional (default DEFAULT)
Some(TimeInForce::Gtd), // optional (default GTC)
Some(expire_time), // one hour from now
Some(true), // post_only (default false)
Some(false), // reduce_only (default false)
None, // quote_quantity (default false)
None, // display_qty
None, // emulation_trigger
None, // trigger_instrument_id
None, // exec_algorithm_id
None, // exec_algorithm_params
None, // tags
None, // client_order_id
);See the
StopLimitOrder API reference
for further details.
Related guides
- Orders - Trigger types and other execution instructions.
- Emulated orders - Emulating conditional orders on venues without native support.
- Execution - How orders reach the venue and fills are handled.