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What is an attached order

An attached order (also known as "child order") refers to an order attached to a current order (also known as "parent order") and is used for closing positions. The attached order will be submitted only after a specified trigger price is met and the parent order is fully filled, thus achieving the purpose of closing positions.

How to Set an Attached Order? 

Order Parameters

Attached Order

You may select None, Profit Taker, Stop Loss, or Bracket in the drop down box. No attached order will be placed by default.

● Profit Taker Order

    A profit taker order is an opposite side limit order (enhanced) attached to the parent order and has the same symbol and quantity as those of the parent order. The profit taker limit price is used to close a profitable position. A profit taker order will be submitted only after the specified profit taker limit price is met and the parent order is fully filled.

● Stop Loss Order

    A stop loss order is a type of stop order used to limit the loss. It is an opposite side order attached to the parent order and has the same symbol and quantity as those of the parent order. Stop loss orders will be triggered only in the continuous trading session and submitted after the specified stop loss stop price is met and the parent order is fully filled.

● Bracket Order

    A bracket order is comprised of a profit taker order and a stop loss order. Once the parent order fills, either a profit taker or stop loss order will be triggered depending on which order meets the trigger price first. When one order fills, the other is cancelled automatically.

Profit Taker Limit Price

The profit taker limit price is the trigger price of a profit taker order. When the parent order is fully filled and the market price meets the specified profit taker limit price, a limit order (enhanced) at the specified price will enter the market automatically. 

Stop Loss Stop Price

The stop loss stop price is the trigger price of a stop loss order. When the parent order is fully filled, a stop order will be submitted automatically. When the market price meets the specified stop loss stop price, a stop loss order will be triggered and enter the market. 

Time-in-force 

The time-in-force for an attached order can be Day or GTC. When the parent order is fully filled, the time-in-force for the attached order will take effect.


Examples

Buy Orders

Let's say you place a limit order (enhanced) to buy 100 shares of Stock XYZ at 18 HKD per share when the market price is 20 HKD per share, then you attach a bracket order at a profit taker limit price of 25 HKD and a stop loss stop price of 10 HKD. After the parent order is fully filled in times of market volatility, the market price of Stock XYZ ill be monitored automatically to see if the market price has met the profit taker limit price or stop loss stop price.

If the market price reaches the profit taker limit price first, a profit taker order will be triggered by submitting a limit sell order (enhanced) to sell 100 shares of Stock XYZ at the price of 25 HKD. In the meanwhile, the stop loss order will be cancelled automatically. If the profit taker order is fully filled before the order expires, all the positions resulting from the parent order will be closed out.

Sell Short Orders

Let's say you place a limit order (enhanced) to sell short 100 shares of Stock XYZ at 20.1 HKD per share when the market price is 20 HKD per share, then you attach a stop loss order at a stop loss stop price of 23 HKD. After the parent order is fully filled in times of market volatility, the market price of Stock XYZ ill be monitored automatically to see if the market price has met the stop loss stop price

If the market price reaches the stop loss stop price of 23 HKD, a stop loss order will be triggered by submitting a market order to buy back 100 shares of Stock XYZ  If the stop loss order is fully filled, the positions resulting from the parent order will be closed out.


Notes

1. A parent order is either a sell short order or buy order. A sell short order will be declined if you have positions to sell, and a buy order will be declined if you have positions to buy back. 

2. The risk assessment of an attached order will be conducted only after the parent order is fully filled and the trigger price of the attached order is met. If either child order in a bracket does not pass the risk assessment, the execution of both child orders will fail.

3. After the parent order is fully filled, the resulting positions will not be frozen. If you execute any other trade that leads to a change of positions, the triggered attached order may fail the risk assessment.

4. When a child order in a bracket is cancelled or declined, the other will be processed in the same way.

5. If you modify the quantity of a parent order before the parent order is fully filled, the quantity of the attached order will be automatically modified to the same amount.

6. A profit taker and stop loss order will only be triggered during continuous trading hours and will not be triggered during the pre-opening session.

7. If the parent order is not fully filled before the order expires, the attached order will be cancelled automatically upon the expiry of the parent order.

8. All attached orders will be cancelled automatically after the parent order is cancelled.

9. All attached orders will be deleted automatically after the parent order is deleted.

Disclaimer

The attached order service is developed by FUTU to facilitate stock trading for clients, and FUTU will make its best efforts to ensure the stability and reliability of such service. However, where any trade is not executed or erroneously executed due to network interruption, unhandled server exception, or any man-induced factor, FUTU shall not be responsible or liable for any loss incurred.