You can cancel a limit order

Orders

With a stop loss order, you place an order to limit your loss if a stock you hold falls in value. As soon as the price of a stock reaches your stop-loss level, a best order is sent to the place of execution. A stop loss order can also be used when buying. Here it acts as a "Start Buy Order" and defines the price at which you want to enter.

Similarly, on a short position, you can place a stop-loss order when the price rises. The stop-loss limit is the price level at which you buy back shares.

Example: Sale of 20 shares in ABC. Current rate at 10 EUR. (1) You place a sell order with a stop loss at EUR 9. (a) The price drops to EUR 9.25, no effect. (b) The price falls to or below EUR 9. The order becomes active and executed at the next traded price on the exchange. (2) You place a sell order with a stop loss at EUR 11. Since the level of the stop loss when selling has to be below the bid price, you cannot place this order like this. Instead, a market order can make sense, as this leads to immediate execution.

Example: Purchase of 20 shares of XYZ. Current rate at 10 EUR. (1) You place a buy order with a stop loss at EUR 11. (a) The price rises to EUR 10.50, no effect. (b) The price rises to EUR 11.01. The order becomes active and executed at the next traded price on the exchange. (2) You place a buy order with a stop loss at EUR 9. Since the level of the stop loss must be above the ask price when buying, you cannot place this order like this. Instead, a market order can make sense, as this leads to immediate execution.

In most cases, the last price is used as a trigger; however, the bid or ask price can also be used. In order to avoid poor execution at unfavorable prices, the stop loss is not triggered in some product segments if there are no market maker prices in the market or if they are not visible. You can find a list of the relevant products in the segment Products & order types on the Products & Trading Venues page.

You can find more information in the document “Orders and Order Execution Principles” in our Help Center.