Pending SellStop order

SellStop order refers to to the pending type of exchange ordersThe price of an asset at a pre-selected price that is different from the current price is the price that your broker orders your broker to buy or sell the asset.

SellStop order is used when you want to sell an instrument at a price that is lower than what the market is offering at the moment.

Type of pending SellStop orders is used if you expect the asset to fall further from the level you selected.

When the price passes the mark at which the SellStop order, the broker automatically, without confirmation trader opens a deal to sell. Up to this point, the order can be canceled.