#订单类型解析 Stop Loss Order

Definition: Set a trigger price that, when the market price reaches this price, automatically converts the order into a market order or limit order for execution, used to control losses.

Characteristics: It is necessary to distinguish between the "trigger price" and the "execution price," as extreme market conditions may result in "liquidation" (the execution price is lower/higher after triggering).

Applicable Scenarios: Preventing liquidation in contract trading, or setting disciplined stop loss points in spot trading.

Risk: During severe market fluctuations, stop loss orders may fail to execute due to insufficient liquidity (commonly referred to as "needle piercing liquidation").