Lets say I have a SL at stop price -5%, and the stock opens with gap down at -10%, will the SL order execute? I do realize that this also depends on the limit price I specified though.
@DeBechamel Stop orders have an actual stop price (not really a percent). If any single round lot trade (with a few exceptions) executes at or better than the stop price then the order will “trigger”. A regular stop order will turn into a market order and a stop limit order will turn into a limit order.
So, if the stock opens and the price is at or below the order’s stop price, then the order will trigger. It’s another question if the resulting market or limit order will execute. Those would fill, or not fill, exactly as if one manually placed that order immediately after the trade which triggered the stop.
Was that the question?