Using bracket orders when buying stocks on ThndrX desktop

A bracket order can only be attached to a Buy order. Brackets cannot be attached to sell orders or to positions already held.

A bracket order is a Buy order with an exit strategy attached. The Buy order can include:

After the Buy order fills, ThndrX activates the attached Stop Loss and Take Profit instructions.

When one trigger is reached first, ThndrX places the corresponding Sell order and cancels the other active bracket instruction.

A bracket order always starts with a Buy order and has two stages.

The original Buy order must execute before the attached Stop Loss or Take Profit becomes active.

After the Buy order fills, ThndrX activates the selected:

Each Stop Loss or Take Profit has a trigger price.

The trigger price determines when ThndrX sends the corresponding sell order to the market. The trigger price is not necessarily the price at which the sell order executes.

The execution price is the price at which the sell order actually fills after the trigger has been reached.

When both Stop Loss and Take Profit are active, triggering one automatically cancels the other.

A stock is bought at EGP 9.50 with:

If the price reaches the EGP 12.00 Take Profit trigger first, ThndrX submits the corresponding Sell order. The Stop Loss is then cancelled.

If the price reaches the EGP 9.00 Stop Loss trigger first, ThndrX submits the corresponding Sell order. The Take Profit is then cancelled.

The final execution price depends on whether the bracket uses Limit or Market execution.

Bracket orders are created from the Order Pad when placing a Buy order on ThndrX desktop.

Bracket options are not available for Sell orders.

After entering the Buy order details, select:

For each enabled bracket instruction, set the Trigger Price and Order Type.

The Trigger Price determines when the Stop Loss or Take Profit activates.

Reaching the Trigger Price does not mean the Sell order has already executed. Reaching the Trigger Price causes ThndrX to submit the configured Sell order.

The Trigger Price can be entered:

For example, a take profit trigger price can be set above the buy entry price, while a stop loss trigger price can be set below the Buy entry price.

The Order Type determines how the Sell order executes after the Trigger Price is reached.

With Limit execution, reaching the Trigger Price causes ThndrX to place a Limit Sell order.

The Limit Sell order executes only at the specified limit price or better.

The Trigger Price and Execution Price can therefore be different. If the market moves past the limit price without enough available demand, the Sell order may remain unfilled.

With Market execution, reaching the Trigger Price causes ThndrX to place a Market Sell order.

The Market Sell order executes at the best available market price.

The Trigger Price starts the Sell order, while the Execution Price depends on available market prices at the time of execution. The Execution Price may be higher or lower than the Trigger Price.

When the parent Buy order uses a Limit Order Type, the required Execution Type is AON — All or Nothing.

AON requires the full Buy order quantity to execute together rather than partially.

The Stop Loss and Take Profit only activate after the full parent buy order has executed.

The parent Buy order for a bracket must fill in full before the attached Stop Loss or Take Profit activates.

If the full quantity cannot be executed under the required execution conditions:

Bracket protection only begins after the full Buy order is filled.

Stop Loss and Take Profit orders use GTC — Good Till Cancelled.

GTC bracket orders remain active across market close until:

After the parent buy order fills, active Stop Loss and Take Profit orders can be viewed in three places on ThndrX desktop:

An active Stop Loss or Take Profit can be edited before the Trigger Price is reached.

Editable fields include:

To edit an active bracket order:

The Trigger Price can also be changed directly from the Chart tab:

Dragging the chart line changes the Trigger Price. Changes to Order Type are managed from Trade Management.

After the original Buy order fills, the resulting position may have an active Stop Loss, Take Profit, or both.

A manual Sell order cannot be placed from the Order Pad while those exit orders remain active.

To sell the position manually, cancel the active Stop Loss and Take Profit orders first.

Stop Loss and Take Profit orders can be cancelled independently.

Cancelling one bracket order does not automatically:

The Trigger Price determines when ThndrX submits the Stop Loss or Take Profit Sell order.

The Execution Price is the price at which the Sell order actually fills.

With Market execution, the Execution Price may differ from the Trigger Price based on available market prices.

With Limit execution, the Sell order only fills at the specified limit price or better and may remain unfilled.

When the Stop Loss or Take Profit Trigger Price is reached first, ThndrX submits the corresponding Sell order.

When both bracket instructions are active, triggering one cancels the other.

Limit execution submits a Limit Sell order after the Trigger Price is reached.

Execution only occurs at the specified limit price or better.

Market execution submits a Market Sell order after the Trigger Price is reached.

The order executes at the best available price, which may differ from the Trigger Price.

Bracket protection only activates after the required full Buy order quantity has executed.

A Buy order that does not satisfy the required full-fill condition does not activate the attached Stop Loss or Take Profit.

Cancel the active Stop Loss and Take Profit orders before submitting a manual Sell order from the Order Pad.

Active Stop Loss and Take Profit orders allow changes to:

Trigger Price can be changed from Trade Management or by dragging the bracket line on the Chart tab. Order Type is changed from Trade Management.