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Stop Loss Market

A stop-loss market order triggers after a downside condition and then attempts immediate market-style execution.

What it does

A stop-loss market trigger watches for a downside condition, then attempts to submit a market-style child order.

It prioritizes an execution attempt after activation rather than setting one fixed execution price.

How it works

  1. Watch: the selected Price Source, Last or Index, is compared with the trigger price.
  2. Activate: the condition is met and Polyester attempts to admit the child order.
  3. Execute: the market-IOC child takes eligible liquidity within configured price protection.
  4. Reconcile: child orders, fills, and balances establish the final outcome.

A Sell stop needs a trigger below the watched price and activates when the price falls to it. A Buy stop needs a trigger above the watched price and activates when the price rises to it.

Price Source sits under Advanced in the Order Form. Last watches the last traded price and is the default. Index watches the market's index price, and the trigger waits while that price is stale. See which price a trigger watches.

The trigger and child have separate states. An accepted trigger does not prove that the later child is admitted, filled, or settled.

When to use it

  • Use it when an execution attempt matters most. Stop Loss Market fits a downside condition where attempting to reduce exposure matters more than one fixed execution price.
  • Avoid it when a precise exit price must be protected. Choose Stop Loss Limit when selling below a defined price would be worse than leaving some or all of the position open.

Confirm the active market, eligible side, quantity, trigger condition, price source, and price-protection control shown by the current form.

Example

Let's say Bitcoin is currently trading at 100,000 USDT. You hold 0.01 BTC, worth about 1,000 USDT, and want to reduce your exposure if the price falls to 95,000 USDT. Because attempting to exit matters more to you than receiving one exact price, you choose Stop Loss Market.

  1. A Last Price trade at 95,000 USDT activates the stop.
  2. The best eligible bid can buy 0.006 BTC at 94,900 USDT, so the Market child fills that amount first.
  3. The next eligible bid can buy the remaining 0.004 BTC at 94,850 USDT, completing the order.

Result: You sell the full 0.01 BTC for 948.80 USDT before fees, at an average price of 94,880 USDT.

This is example liquidity. A real child order can fill partially or receive no fill when eligible bids do not exist within price protection.

What to watch

  • A gap can move available prices before the child is admitted.
  • Price protection can produce a partial fill or no fill.
  • Balance, policy, or market state can reject the child.
  • Canceling after activation can race with execution.
  • Verify the trigger on the TP/SL trigger tab, then verify fills in Order History.
Market Order Attempt immediate execution against available Order Book liquidity within price protection. Limit Order Buy at a chosen maximum price or sell at a chosen minimum price. Time-in-Force & Post-Only Control what happens to unfilled limit quantity and whether an order may remove liquidity immediately. Iceberg Understand the Iceberg order concept and its current availability on Polyester. TWAP Spread a target quantity across scheduled child orders while monitoring execution, timing, and completion risk. Ladder Distribute a target quantity across planned limit-price levels and monitor each child order independently. Stop Loss Limit Activate a limit child after a downside condition while keeping trigger price and execution boundary distinct. Take Profit Market Attempt market-style execution after the price reaches your profit target, while accounting for gaps, protection, and partial fills. Take Profit Limit Place a limit child when the price reaches your profit target, keeping the trigger price and execution boundary distinct. Trailing Stop Follow a favorable price extreme and activate a child order after price reverses by a configured distance.
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