Effortless Trading with Intelligent Order Tools
Have you ever faced these challenges while trading Hong Kong stocks? Watching a popular stock surge, only to miss out due to a failed order? Struggling with price settings—too low and your order isn’t filled, too high and you’re left with regrets? Or worse, predicting a market dip accurately but failing to execute a stop-loss in time, erasing your day’s gains?
The Hong Kong stock market moves at lightning speed, with every trade carrying weight. Opportunities don’t wait, and it’s easy to feel overwhelmed.
With Tiger Trade, intelligent order tools empower you to seize opportunities amidst market volatility. Whether it’s riding an upward momentum or managing risks during declines, these tools simplify trading and reduce stress.
Still struggling with the chaos of trading? Explore these advanced order types and seize every opportunity with confidence!
Limit Order
Definition A limit order allows you to set your ideal price to buy or sell a stock. This is the most common and straightforward order type, offering strict cost control by ensuring the trade only executes at your specified price or better.
Use Case Suppose X stock is currently trading at HKD 151.2, but you believe HKD 140 is a fair buying price. By placing a limit order with a target price of HKD 140, the system will automatically place your order when the stock reaches that price. No need for constant monitoring.
Steps Stock order page → Select “Limit Order” → Set the limit price (e.g., HKD 140) → Enter quantity → Choose validity period → Place order
Market Order
Definition Market orders prioritize speed over price precision. When placed, they execute immediately at the current market price.
Use Case If X stock announces significant positive news, causing its price to rise rapidly, a market order ensures you secure shares instantly without worrying about exact pricing. However, during high volatility, the final execution price may deviate from expectations.
Steps Stock order page → Select “Market Order” → Enter quantity (e.g., 100 shares) → Place order
Stop-Loss Order
Definition A stop order allows you to set a trigger price. Once the stock price reaches this level, the system automatically executes a market order to buy or sell the stock.
Use Case If X stock is trading at HKD 151, and you want to limit potential losses if the price drops below HKD 140. By setting a stop order at HKD 140, the system will sell your shares at market price once the trigger is reached.
Steps Stock order page → Select “Stop Order” → Set trigger price (e.g., HKD 140) → Enter quantity → Place order
Stop Limit Order
Definition A stop limit order adds a price range to your stop order, ensuring that the trade only executes within your specified limits.
Use Case If X stock is trading at HKD 151, and you want to sell if it drops to HKD 140 but not below HKD 135, a stop limit order can be used. The trade will only be executed within this range.
Steps Stock order page → Select “Stop Limit Order” → Set trigger price (e.g., HKD 140) → Set limit price (e.g., HKD 135) → Enter quantity → Place order
Trailing Stop Order
Definition A trailing stop order dynamically adjusts your stop price based on market movements, either by a fixed amount or percentage.
Use Case If you buy X stock at HKD 151 and set a trailing stop at HKD 2, the stop price will initially be HKD 149. If the stock price rises to HKD 155, the stop price moves up to HKD 153. However, if the stock price starts to fall, the stop price remains at HKD 153 and will trigger a sell order if the price drops to this level.
Steps Stock order page → Select “Trailing Stop Order” → Set trailing amount/percentage (e.g., HKD 2) → Enter quantity → Place order
At-Auction Order
Definition Auction orders are designed for pre-opening or closing auction sessions. They ensure priority execution based on auction rules without price restrictions.
Use Case If you want to buy X stock during the opening auction session, this order type ensures your trade is prioritized at the final auction price.
Steps Stock order page → Select “At-Auction Order” → Enter quantity → Place order
At-Auction Limit Order
Definition An auction limit order allows you to participate in auction sessions by setting a maximum buy price or minimum sell price. The order will only be executed if the final auction price meets your limit.
Use Case If X stock is in an opening auction with no clear price, and you want to buy shares at no more than HKD 150, you can place an auction limit order. If the final auction price is HKD 150 or lower, your order will be executed; otherwise, it will not be filled.
Steps Stock order page → Select “At-Auction Limit Order” → Set limit price (e.g., HKD 150) → Enter quantity → Place order
Time-Weighted Average Price (TWAP) Order
Definition TWAP orders split your order into smaller trades over a specified time frame, aiming to achieve an average price.
Use Case Suppose you want to buy X stock between 10:00 AM and 11:00 AM without impacting the market price. A TWAP order divides the trade evenly across this period.
Steps Stock order page → Select “TWAP Order” → Set time frame → Enter total quantity → Place order
Volume-Weighted Average Price (VWAP) Order
Definition VWAP orders distribute your trades based on market volume, ensuring the execution price aligns with the volume-weighted average during a specific period.
Use Case If you want to buy X stock throughout the day without significantly impacting the market, a VWAP order achieves a fair price based on trading volume.
Steps Stock order page → Select “VWAP Order” → Set time frame → Enter total quantity → Place order
Conditional Order
Definition A conditional order is triggered only when specific criteria, such as a target price, are met.
Use Case If X stock is trading at HKD 151 and you want to buy it when the price drops to HKD 140, you can set a conditional order to automatically execute the buy when the price hits the trigger point of HKD 140.
Steps Stock order page → Select “Conditional Orders” → Set trigger price (e.g., HKD 140) → Define order type (e.g., limit) → Enter quantity → Place order
Attached Order
Definition An attached order allows you to set stop-loss or take-profit conditions that are linked to your primary order.
Use Case You buy X stock at HKD 151, and you want to sell at HKD 160 to take profit, or at HKD 145 to minimize loss. Once the primary buy order is executed, the attached conditions (stop-loss and take-profit) are automatically tracked by the system.
Steps Stock order page → Select “Attached Order” → Set primary order (e.g., buy at HKD 151) → Add stop-loss/take-profit conditions (e.g., HKD 145 for stop-loss, HKD 160 for take-profit) → Place order
One-Cancels-All (OCA) Order
Definition An OCA order groups multiple orders, ensuring that if one order is executed, the other orders are automatically canceled to avoid overlapping trades.
Use Case If you buy X stock at HKD 150.8, you can set an OCA order to sell at HKD 160 for profit or at HKD 145 for a stop-loss. Once one condition is met, the other order is canceled automatically.
Steps Stock order page → Select “OCA Order” → Set condition 1 (e.g., sell at HKD 160) → Set condition 2 (e.g., sell at HKD 145) → Place order
Make Trading Simpler and Seize Every Opportunity
In the fast-moving Hong Kong stock market, choosing the right tools is essential to boosting trading efficiency. Whether it’s basic orders like limit and market orders, or advanced ones like conditional orders and TWAP, each order type is designed to meet different trading needs, helping you implement more precise strategies.
Investing is not just about watching the market and making bets—it’s the fusion of intelligence and tools. Mastering these flexible order types allows both beginners and experienced traders to navigate a volatile market with greater confidence.
Instead of letting the market dictate your moves, why not take control with professional tools and set the pace yourself? Try these advanced orders next and make your Hong Kong stock trading more efficient, effortless, and worry-free. On the road to investment, let every decision be backed by confidence!
Disclaimer: Investing carries risk. This is not financial advice and should not be regarded as a solicitation or recommendation of acquiring or disposing of financial products. Any content being discussed, shared, and commented does not consider your own investment objectives or financial needs. Tiger Brokers assumes no warranty or responsibility for the accuracy and completeness of the information. Past performance is no guarantee of future results. Graphics and charts are for illustrative purposes only.