Place conditional orders on equity market

GTD (Good till date) are Buy/Sell orders which are effective from 1 to many days with pre-defined volume and price, and will be valid until the orders and fully filled or be expired

• Orders placed from 8:30 AM to the end of trading session (HOSE, HNX exchange and Derivatives: 2:45 PM, UPCOM exchange: 3:00 PM) will be activated immediately after placing.
• Orders placed outside the above period or selected for multi-day validity will be activated at 8:30 AM daily.  
• If the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the system will re-check the trigger condition with the target trigger price again.
• On the following days, if the order is still valid and not fully filled, the order will be automatically sent into the system at 8:30 AM with the remaining unmatched volume.

Instruction of placing order:

1. Price: Limit Price

2. Choose Effective date & Expiration date:

Orders with multi-day validity will be activated at 8:30 a.m daily if the conditions on price, stock balance and purchasing power are satisfied. In the trading session of the effective date, the order will be activated immediately after placing.

3. Trigger type: Sending orders until full matching

Example

On 06/04/2023, customer A wants to sell 1000 SSI with price 26. He places GTD with Price 26, Volume 1000, Effective Date 06/04/2023, Expiration Date 05/05/2023 (23:59) 

• After placing GTD order in the trading session on April 6th, 2023, a limit order to sell 1000 shares of SSI with price of 26 (satisfying the floor/ceiling) was sent to the market with Queue status. If the limit order is rejected, at 1:00 PM on April 6, 2023 the order will continue to be checked for activation conditions.
• In case on April 6, 2023, the order to sell limit price 26 was not fully matched, the order will continue to be automatically activated at 8:30 am on the next trading days until it is fully matched and will expire on May 5, 2023 when the expiration time has passed

STOP (STOP with Market Order) are Buy/Sell orders with market price and pre-defined trigger price at the time of placing orders. The order is activated when the price & balance conditions are satisfied during the continuous execution session. In case the order satisfies the price condition but does not satisfy other conditions, at 1:00 PM during the day, the system will re-check the activation condition with the target trigger price again.

Instruction of placing order:

1. Choose trigger condition: ≥ or ≤  trigger price

2. Trigger Price: The price that determines the trigger point of STOP Order

• With the condition ≥ Trigger Price: Order will be activated if  Market Price ≥  Trigger Price
• With the condition ≤ Trigger price: Order will be activated if  Market Price  ≤  Trigger Price

3. Price: MP (MP for HOSE – equity, MTL for HNX equity)

4. Choose Effective date & Expiration date

5. Trigger type: Sending only one order or sending orders until full matching

Note: STOP order is not supported for stocks on UPCOM exchange

Example:

Customer A owns 1000 SSI and does not have much time to monitor the market, wants to take profit at the price of 25. The current market price of SSI is 23, the customer places a STOP order with the following parameters:

Trigger price ≥ 25    Volume: 1000

Price: MP   Trigger Price: Sending orders until full matching

Effective date: 10/04/2023  Expiration date  : 17/04/2023

Supposed that after customer places order, the market price of the SSI changes as follows: 

When Market Price ≥ 25, order will be triggered, order status is changed to Acitvated. Sell Order SSI volume 1000 price MP is automatically sent to the system

• If the sell order is fully filled, the status of conditional order will switch to Completed
• If the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the order’s status will be switched to Awaiting Conditions and the system will continue to check trigger conditions.
• On the next trading day, if the conditional order is still valid and has been activated, has not been fully filled, the order will be sent to the exchange at the market price on continuous session.

→ Therefore, the STOP order helped customers automatically take profits at the desired price without having to closely monitor the market price movement.

Stop Limit (Stop with Limit Order ) are Buy/Sell orders with price order is limit order and pre-defined trigger price at the time of placing orders.

 The order is activated when the price & balance conditions are satisfied during the continuous execution session. In case the order satisfies the price condition but does not satisfy other conditions, at 1:00 PM during the day, the system will re-check the activation condition with the trigger price.

User guide

1. Choose trigger condition: ≥ or ≤  trigger price

2. Trigger Price: The price that determines the trigger point of Stop Order

• With the condition ≥ Trigger Price: Order will be activated if  Market Price ≥  Trigger Price
• With the condition ≤ Trigger price: Order will be activated if  Market Price  ≤  Trigger Price

3. Price: Limit order

4. Choose Effective date & Expiration date

5. Trigger type: Sending only one order or sending orders until full matching

Example:

SSI is trading at the price 25, customer A predicts the market has a downtrend and wants to buy into SSI with the expected price < 23, customer A places a Stop Limit order with the following parameters:

  Trigger Price: ≤ 23  Volume: 1000

  Order Price: 22.9  Trigger Type: sending orders until full matching

  Effective date: 10/04/2023  Expiration date: 17/04/2023 

Supposed that after customer places order, the market price of the SSI changes as follows: 

When Market Price ≤ 23, order will be activated, order status is changed to Activated. Order Buy SSI Volume 1000 Price 22.9 is automatically sent to the system

• If order is fully matched: Order status is changed to Completed
• If order is unmatched of partially matched: Order keeps the status Activated. Order Buy SSI will continue to be automatically activated at 8:30 am on the next trading days until it is fully matched or expired.

→ Therefore, the STOP Limit Order helps customers to buy stocks according to the investment strategy and desired price

Trailing Stop Order (Trending Market Order) are Buy/Sell Orders with order price is automatically adjusted to follow the trend of the market, which help customers achieve the most optimal price.

In trading session,  when the adjusted trigger price hits the market price, order will be sent into the system with the order price is market price

If the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the system will continue to re-check trigger conditions

Instructions for Placing order

1. Enter Trailing Amount: is the difference between the Market Price and the Trigger Price when placing order

2. Initial trigger Price is the provisional trigger price calculated at the time of placing the order, determined by the formula :

3. Order price: Is Market Price (MP for HOSE – equity trading, MTL for HNX – equity and derivatives trading)

4. Select effective date and expiration date

5. Trigger Type: Sending only one order or Sending orders until full matching

Note: Trailing STOP order is not supported for stock on UPCOM exchange

TRAILING STOP BUY ORDER

Example

The current market price of SSI is 80. Customer predicts that market price will decrease and expects to buy SSI at the most optimal price that follow the trend of the market closely. Customer can place conditional order as follows:

• Trailing STOP - buy 1000 SSI with trailing amount = 3
• Effective date: 10/04/2023             Expiration date: 17/04/2023
• Trigger type: Sending until full matching

At the first time (T1): Initial trigger price = Market Price + Trailing Amount = 83

At subsequent times (T2-T3), the market price decreases => trigger price decreases corresponding = MIN (Market Price + Trailing Amount, Previous Trigger Price)

At the fourth and fifth time (T4-T5), the market price increases then decreases but the new bottom point has not been created => trigger price remains unchanged

The market price continues to fluctuate until the market price hits the trigger price (T10) at the price of 60, the order is activated with price = market price as MP, the status of conditional order switches to Activated

• If the order is fully matched: Order status is changed to Completed
• If the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the order’s status will be switched to Awaiting Conditions and the system will continue to check trigger conditions
• On the next trading day, if the conditional order is still valid, has been activated and has not been fully filled, the order will be sent to the exchange at the market price on continuous session.

→ Therefore, the Trailing STOP Buy Order helped customers achieve optimal point to buy when the market reverses with the principle of automatic slippage at the market price by a predetermined amount

TRAILING STOP SELL ORDER

Example

The current market price of MWG is 65 . Customer predicts that market price will increase and expects to sell MWG at the most optimal price that follow the trend of the market closely. Customer can place conditional order as follows:

• Trailing STOP – sell 1000 MWG with trailing amount = 4
• Effective date: 10/04/2023        Expiration date: 17/04/2023
• Trigger type: Sending until full matching

At the first time (T1): Initial trigger price = Market Price - Trailing Amount = 61

At subsequent times, the market price increases => trigger price increases corresponding = MAX (Market Price - Trailing Amount, Previous Trigger Price)

At the fourth and eighth time, the market price decreases then increases but the new top point has not been created => trigger price remains unchanged

The market price continues to fluctuate until the market price hits the trigger price at the price of 85, the order is activated with price = market price as MP, volume = 1000, the status of conditional order switches to activated

• If the order is fully matched: Order status is changed to Completed
• If the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the order’s status will be switched to Awaiting Conditions and the system will continue to check trigger conditions
• On the next trading day, if the conditional order is still valid, has been activated and has not been fully filled, the order will be sent to the exchange at the market price on continuous session.

→ Therefore, the Trailing STOP Sell Order helped customers achieve optimal point to sell when the market reverses with the principle of automatic slippage at the market price by a predetermined amount

Trailing Stop Limit Order (Trending Limit Order) are Buy/Sell Orders with order price is automatically adjusted to follow the trend of the market, which help customers achieve the most optimal price. In trading session, when the adjusted trigger price hits the market price, order will be sent into the system with the order price is limit price adjusted by toler

If the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the system will continue to re-check trigger conditions

Instructions for Placing order

1. Enter Trailing Amount: is the difference between the Market Price and the Trigger Price when placing order

2. Toler: Is the difference between the market price and order price at the activated time, which help to increase the successful matching opportunities

3. Initial trigger Price: Is the provisional trigger price calculated at the time of placing the order, determined by the formula :

4. Initial Price: Is the provisional order price calculated at the time of placing order, determined by the formula:

5. Select effective date and expiration date

6. Trigger Type: Sending only one order or sending orders until matching

TRAILING STOP LIMIT BUY ORDER

Example

The current market price of FPT is 100. Customer predicts that market price will decrease and expects to buy FPT at the best price that follow the trend of the market closely and optimize matching opportunity. Customer can place conditional order as follows:

• Trailing STOP Limit - buy 1000 FPT with trailing amount = 5, toler = 2
• Effective date: 10/04/2023         Expiration date: 09/05/2023 
• Trigger Type: Sending orders until matching

When placing order (T1): Initial trigger price = Market Price + Trailing Amount = 105

                     Initial Price = Initial trigger price + Toler = 107

At subsequent times (T2-T3), the market price decreases => trigger price decreases corresponding = MIN (Market Price + Trailing Amount, Previous Trigger Price)

At the fourth and fifth time (T4-T5), the market price increases then decreases but the new bottom point has not been created => trigger price remains unchanged

The market price continues to fluctuate until the market price hits the trigger price (T10) at the price of 75, the order is activated with price = trigger price + toler = 77, the status of conditional order switches to activated

• If order is fully matched: Order status is changed to Completed
• If the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the order’s status will be switched to Awaiting Conditions and the system will continue to check trigger conditions
• On the next trading day, if the conditional order has been activated and has not been fully filled, the order will be sent to the exchange at 8:30 AM with unmatched volume.

→ Therefore, the Trailing STOP Limit Buy Order helped customers achieve optimal point to buy when the market reverses with the principle of automatic slippage at the market price by a predetermined amount

TRAILING STOP LIMIT SELL ORDER

The current market price of FPT is 65 . Customer predicts that market price will increase and expects to sell FPT at the most best price that follow the trend of the market closely and optimize matching opportunity. Customer can place conditional order as follows:

• Trailing STOP Limit – sell 1000 FPT      Trailing amount = 4,
• Toler = 2
• Effective date: 10/04/2023           Expiration date: 28/04/2023 
• Trigger Type: Sending orders until matching

At the first time (T1): Initial trigger price = Market Price - Trailing Amount = 61

              Initial price = Initial trigger price – Toler = 59

At subsequent times, the market price increases => trigger price increases corresponding = MAX (Market Price - Trailing Amount, Previous Trigger Price)

At the fourth and eighth time, the market price decreases then increases but the new top point has not been created => trigger price remains unchanged

The market price continues to fluctuate until the market price hits the trigger price at the price of 85, the order is activated with price = trigger price – toler = 83, volume = 1000, the status of conditional order switches to activated

→ Therefore, the Trailing STOP Limit Sell Order helped customers achieve optimal point to sell when the market reverses with the principle of automatic slippage at the market price by a predetermined amount

OCO (One-cancels-the-other) is a pair of take profit and auto STOP loss orders at the pre-defined prices. If the take profit order is successfully triggered, when the market price hits the stop loss price, the take profit order will be canceled, the stop loss order will be activated with the unmatched volume of the previous take profit order.

• Orders placed from 8:30 AM to the end of trading session (HOSE, HNX exchange and Derivatives: 2:45 PM, UPCOM exchange: 3:00 PM) will be activated immediately after placing.
• Orders placed outside the above period or selected for multi-day validity will be activated at 8:30 AM daily.  
• If the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the system will re-check the trigger conditions.
• On the following days, if the conditional order is still valid and not fully filled and the stoploss order was triggered successfully:

- For stocks: Continue to send stop loss order at 8:30 AM

- For derivatives contracts:  Continue to send take profit order at 8:30 AM and check stop-loss conditions

• OCO order is completed when the order is fully filled or expired

Instructions for Placing order

Take Profit Price: Limit Price for the main order to take profit

Cut Loss Price: Trigger price for the attached order to cut loss

• For buy order: Cut loss price > Take profit price
• For sell odder: Cut loss price < Take profit price

Toler: The amount of addition/deduction to the preset stop-loss Price and is used to adjust the stop-Loss Price to increase of matching opportunity:

• For buy order, Adjusted cut Loss = Cut Loss + Toler
• For sell order, Adjusted cut Loss = Cut Loss - Toler

Choose Effective Date & Expiration Date

Note: OCO is completed when the Take profit order is fully matched, or the Cut Loss order is activated

Example

Customer A owns FPT at 64, expects to sell FPT at the take profit at 68, cut loss at 62

Customer A will place OCO including take profit 68, cut loss 62, Toler 0.5

After placing order, on the conditional order’s screen, the conditional order will have status Activated:

• If FPT increases ≥ take profit 68: Take profit order will be fully matched, OCO status is change to Completed
• During the day, if the order is still valid and not fully filled, when market price of FPT reverses and decreases ≤ cut loss price 62: Take profit order 68 will be automatically canceled and cut loss price is activated with the unmatched volume and the Adjusted Cut Loss = Cut loss – Toler = 61.5
• If the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the order will be activated again with target trigger price.
• On the next trading day, if the conditional is still valid and has not been fully filled, the order will be sent to the exchange at 8:30 AM with stoploss price.

→ Therefore, OCO orders with pre-set take profit and stop loss ranges will help customers maximize profits and minimize risks in the investment process.

Take Profit/Stop Loss (Bull & Bear) is a combination of a main order (limit order) accompanied with a pair of Take Profit and STOP Loss order. When the main order is fully filled, the automatic take profit or STOP loss order in the opposite direction will automatically be activated at the predefined price and volume at the time of placing the order.

Take Profit/Stop Loss is considered as a combination of 3 orders:

1. Main order: Limit Buy/Sell order and will be the basis for generating conditional orders. If effective date is current date, orders placed from 8:30 AM to the end of trading session (HOSE, HNX exchange and Derivatives: 2:45 PM, UPCOM exchange: 3:00 PM) will be activated immediately after placing. Orders placed outside the above period or selected for multi-day validity will be activated at 8:30 AM daily if the conditions of cash balance, securities and purchasing power and other conditions as for normal orders are satisfied. In case the order satisfies the price condition but does not satisfy other conditions, at 1:00 PM during the day, the system will check the activation conditions with the target trigger price again.

2. Attached order to Take Profit: Limit Buy/Sell order in the opposite direction to the main order to take profit at the expected price

3. Attached order to Stop Loss: Limit Buy/Sell order in the opposite direction to the main order to stop loss

When the main order (1) is fully filled, the attached order to take profit (2) will be automatically triggered. The status of the order will switch to completed at expiration time or when the has been fully filled.

Instructions for placing orders

1. Order price: Limit price for the main order

2. Take profit: Limit price for the attached order to take profit

3. STOP loss: Limit price for the attached order to stop loss

• For buy order: Take profit > Order price, stop loss < Order price
• For sell order: Take profit < Order price, stop loss > Order price

4. Toler: The amount of addition/deduction to the preset stop-loss Price and is used to adjust the stop-Loss Price to increase of matching opportunity:

• For buy order, Adjusted cut Loss = Cut Loss + Toler
• For sell order, Adjusted cut Loss = Cut Loss - Toler

5. Choose Effective Date & Expiration Date

Note: For equity stocks, STOP Loss/Take Profit supports Buy side only

Example

Customer A BUY SSI 22, Volume 1000. Customer A wants to take profit at 24, STOP loss at 20. Customer A will place Take Profit/Cut Loss with order price 22, take profit 24, cut loss 20, toler 1. The customer's conditional order book screen will display following information:

• Main order (1): BUY 1000 SSI at 22, order status Activated
• Attached order (2): SELL to take profit at 24, order status Awaiting condition
• Attached order (3): SELL to cut loss, order status Awaiting condition: cut loss price 20, toler 1, adjusted cut loss = Cut loss - Toler = 19

When Main order (1) BUY is fully matched with Volume 1000, attached order (2) SELL to take profit is automatically triggered with order price 24

• If the order is fully filled: The status of conditional order is switched to Completed
• If the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the attached order will be activated again with target trigger price.
• On the next trading day, if the conditional is still valid, has been activated and has not been fully filled, the order will be sent to the exchange at 8:30 AM with unmatched price.

→ Therefore, with the STOP Loss/Take Profit order, customers can both place new buy orders/buy to increase quantity, manage the investment with pre-set take-profit/stop-loss levels.