# Placing a stop limit order

A [<mark style="color:yellow;">Stop Limit Order</mark>](https://prodigyfi.gitbook.io/trading-parameters/trading-basics/order-types#stop-limit) executes only when the index price crosses a specified stop price. Once the index price reaches your stop price, a limit order will automatically be placed to limit buy or sell your order amount. Stop limit orders can be used to limit losses on your positions by automatically closing them when the price falls below (for longs) or rises above (for shorts) the stop price.

Once triggered, the resulting limit order may be immediately filled or may rest on the order book at the limit price. The limit price operates exactly the same as for normal limit orders.

## Placing a stop limit order

To place a stop limit order:

1. Click **Stop Limit** under the Stop dropdown menu.
2. Click **Buy** or **Sell**.
3. Type an Amount - this is the total trade size.
4. Type the desired Stop Price; your order will trigger when the Index Price reaches this amount.
5. Type the desired Limit Price; this will be the limit price of the limit order that is placed once your stop order triggers.
6. Review your order summary to confirm your selections.
7. Click **Place Order** to execute your order.

<figure><img src="/files/0bZOizgyHcDWtxlDNNAh" alt="" width="161"><figcaption></figcaption></figure>

### Advanced Stop Order Options <a href="#h_f40d34cf09" id="h_f40d34cf09"></a>

Under the Advanced section in the trade box, you have the option to modify your Good Til Time.

{% hint style="info" %}
*Note: Stop orders trigger based off the index price or the last trade price.*
{% endhint %}


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