The Stealth Orders app lets traders hide their pending orders from other market participants. Instead of placing a stop or limit order, the app waits for an entry price to be hit and then buys or sells at market. The app also provides stealth stop-losses and take-profits, closing out positions by trading at market when an exit price - or a cash profit/loss - is reached.
The app is not just a useful service for your clients. It can also provide tangible support for a broker's marketing messages about fairness, transparency, no stop-hunting etc.
The Stealth Orders app provides four groups of features:
- Stealth entries: the equivalent of limit and stop orders. Traders can also create one-cancels-all (OCA) groups of orders where the remaining orders are removed when the first one is filled.
- Stealth exits: the equivalent of a take-profit or stop-loss on a single trade. Traders can define multiple exits for the same ticket, scaling out of a position when different thresholds are reached.
- Symbol exits: these close all the positions and orders for a symbol if a price is hit, or if the combined profit of the positions reaches a threshold. Traders can also use filtering, e.g. "only long EUR/USD orders, and only if their comment includes the text Breakout".
- Account exits: these close all positions and orders on the entire account when a threshold is hit.
All stop-losses and take-profits can be specified in cash terms instead of prices: for example, "close this trade at +$50 profit or -$70 loss" instead of "close this trade at 1.4567 or 1.4321". The app also lets traders set up trailing stops, again on a hidden stealth basis.
The symbol-exit and account-exit features are a useful facility for managing positions even if a trader is not interested in the stealth aspects of the app.
Account exits can provide a simple "emergency break", closing all positions on the account if floating P/L or free margin becomes dangerously low - or, alternatively, if a profit target is hit.
Symbol exits let traders apply rules to a basket of positions, which can either simply be all the positions for a single instrument such as EUR/USD, or a more complex group such as "long positions, on any instrument, but only those where the text of the order comment contains Breakout". Traders can use symbol exits as a way of managing the total profit of multiple positions, regardless of whether those positions were created by the stealth app, or by other manual trading, or by a separate automated trading system.
FX Blue Labs can provide videos about each app. Broker clients can either use generic un-branded videos, like this example, or can commission branded versions which FX Blue Labs will arrange and pass on at-cost from the video company.