Stop and stop limit orders allow you to automate the buying or selling of an asset when it reaches a specific price. These tools help protect profits, minimize losses, or ensure you only buy when the price increases to a certain level.
Stop Order
A stop order is triggered when the asset reaches the stop price you set. At that moment, it turns into a market order and executes at the best available price.
Buy Stop: Used when you want to buy an asset if its price rises to a certain level.
Sell Stop: Used to sell an asset if its price drops to a certain level.
📌 Example
You own XYZ stock, which is trading at $10. To limit losses, you set a sell stop order at $8. If XYZ falls to $8, your order is activated, and the shares are sold at the best available market price.
Stop Limit Order
A stop limit order combines a stop order with a limit order, giving you more control over the execution price.
When the asset reaches the stop price, instead of becoming a market order, it turns into a limit order, meaning it will only execute if the price meets or exceeds your set value.
Buy Stop Limit: Used to buy an asset when its price rises, but only up to a defined maximum price.
Sell Stop Limit: Used to sell an asset when its price drops, ensuring it doesn’t sell below your minimum price.
📌 Example
XYZ is trading at $20. You want to sell if it drops to $18, but you don’t want to sell for less than $17. You set a stop limit order with a stop at $18 and a limit at $17. If XYZ falls to $18, the order is triggered but will only execute if buyers are willing to pay at least $17. If there’s not enough demand at that price, the order may not be completed.
How to Place a Stop Order in the App
Open the Hapi app and log in.
Go to your portfolio and select your preferred asset.
On the asset screen, tap Trade, then Buy or Sell.
In the top-right corner, you'll see order types; select Stop.
Set your stop price, select the expiration date (one day or 90 days), and enter the number of shares.
Review and confirm the order.
And that's it! Setting a stop order on Hapi is this easy.
In short:
Order Type | How It Works |
Stop | Triggers at the stop price and turns into a market order. |
Stop Limit | Triggers at the stop price and turns into a limit order, ensuring a minimum or maximum price. |
📢 Important Notes
Stop and stop limit orders only execute if the market reaches the set price.
A stop order may execute at a different price during periods of high volatility.
A stop limit order may not execute if the limit price is not reached.
If you have more questions about using these orders in Hapi, contact us. We’re here to help!