A stop-loss order is a crucial risk management tool for traders and investors, designed to limit potential losses on a security position. However, there are times when market conditions change, your trading strategy evolves, or you simply want to adjust your risk exposure, necessitating the cancellation of an existing stop-loss order on Webull.
This comprehensive guide will walk you through the process of canceling a stop-loss order on Webull, step by step, ensuring you can manage your trades with confidence.
Understanding Stop-Loss Orders on Webull
Before we dive into cancellation, let's briefly recap what a stop-loss order is and why you might have one in place.
A stop-loss order is an instruction to automatically sell a security if its price falls to a specified "stop price." It's designed to protect your capital by preventing further losses. Webull offers various order types, including:
Stop Order: Converts to a market order once the stop price is triggered. There's no guarantee of the execution price, especially in volatile markets.
Stop Limit Order: Converts to a limit order once the stop price is triggered. This means it will only execute at your specified limit price or better, offering more control over the execution price but carrying the risk of not being filled if the market moves past your limit.
Limit + Take Profit/Stop Loss Order: A more advanced order type where you can set a main order (e.g., a limit buy) and attach sub-orders, including a stop-loss and a take-profit order. If one is triggered, the other is automatically canceled.
Knowing which type of stop-loss order you have active is important, though the cancellation process is largely the same for all of them.
Step 1: Get Ready to Take Control of Your Trades!
Are you ready to take charge of your investments and manage your risk proactively? Excellent! Canceling a stop-loss order on Webull is a straightforward process once you know where to look. Let's begin by accessing your Webull account.
Step 2: Accessing Your Webull Account
The first crucial step is to log in to your Webull account. You can do this through:
Webull Mobile App: This is generally the most common and convenient way for most users.
Webull Desktop Platform: For those who prefer a larger screen and more robust charting tools.
Webull Web Platform: Accessible through your web browser.
Regardless of your chosen platform, the interface for managing orders is quite consistent.
Sub-heading: Logging In
Open the Webull application on your mobile device or desktop, or navigate to the Webull website in your browser.
Enter your login credentials (phone/email/Webull ID and password).
Complete any two-factor authentication if you have it enabled (which you absolutely should for security!).
Once logged in, you'll be on your main dashboard, ready to navigate to your active orders.
Step 3: Navigating to Your Orders
Now that you're in your Webull account, you need to find the section that displays your active and pending orders. This is where your stop-loss order will be listed.
Sub-heading: Locating the "Orders" or "Positions" Tab
On the Webull Mobile App:
Look for the "Orders" icon, usually located at the bottom navigation bar (it often looks like a small document or a list).
Alternatively, you might find your orders by going to the "Portfolio" or "Account" section, and then looking for a sub-menu for "Orders" or "Open Orders."
On the Webull Desktop or Web Platform:
You'll typically see a dedicated "Orders" tab or section prominently displayed on the interface, often near your portfolio summary or charting area.
Click on this tab to view all your pending, filled, and canceled orders.
Step 4: Identifying Your Stop-Loss Order
Once you're in the "Orders" section, you'll see a list of all your current and past orders. You need to carefully identify the specific stop-loss order you wish to cancel.
Sub-heading: Filtering for Active Orders
Look for filters like "Pending," "Active," "Working," or "Open Orders." Applying these filters will help narrow down the list to only those orders that are currently live in the market.
Pay close attention to the "Type" column. You'll be looking for orders labeled "Stop," "Stop Limit," or similar, associated with the particular stock or ETF you're trading.
Verify the symbol, quantity, and stop price to ensure you're selecting the correct order. Accidentally canceling the wrong order can have unintended consequences.
Step 5: Initiating the Cancellation Process
Once you've identified the specific stop-loss order, the cancellation is just a few taps or clicks away.
Sub-heading: The "Cancel" Button
On the Webull Mobile App:
Tap on the stop-loss order you want to cancel from the list of active orders.
This will typically open a detailed view of that order. Look for a conspicuous button labeled "Cancel Order" or simply "Cancel." It might be at the bottom of the screen or in a top-right menu (often represented by three dots).
On the Webull Desktop or Web Platform:
Right-click on the stop-loss order in your order list, or select the order and look for a "Cancel" button usually located in a toolbar above or below the order list.
A confirmation pop-up will usually appear to prevent accidental cancellations.
Step 6: Confirming the Cancellation
This is a critical step! Webull, like most brokers, will ask you to confirm your decision to cancel the order.
Sub-heading: The Final Confirmation
A confirmation dialogue box will appear, asking you to confirm if you truly want to cancel the selected order.
Read the confirmation message carefully to ensure it refers to the correct order you intend to cancel.
Click "Confirm," "Yes," or the equivalent button to finalize the cancellation.
Step 7: Verifying the Cancellation
After confirming, it's always good practice to verify that your stop-loss order has indeed been canceled.
Sub-heading: Checking Order Status
Immediately after cancellation: The order should disappear from your "Active" or "Pending" orders list.
Check your "History" or "Canceled Orders" section: The canceled stop-loss order should now appear in one of these sections, showing its status as "Canceled."
Look for a notification from Webull: You'll often receive an in-app notification or email confirming the successful cancellation of your order.
Congratulations! You have successfully canceled your stop-loss order on Webull.
Important Considerations When Canceling Stop-Loss Orders
Market Volatility: In rapidly moving markets, there's a small chance your stop-loss order could be triggered and executed just before your cancellation request is processed. While rare with modern systems, it's a possibility to be aware of.
Good 'Til Canceled (GTC) Orders: If your stop-loss order was set as GTC, it would remain active until filled or manually canceled. Forgetting to cancel a GTC order can lead to unexpected executions far into the future.
Purpose of Cancellation: Understand why you are canceling the stop-loss. Are you replacing it with a new one? Are you taking on more risk, or less? Re-evaluate your risk management strategy if you're making significant changes.
Partial Fills: If your stop-loss order was partially filled before you initiated the cancellation, only the unfilled portion will be canceled. The part that was filled will remain executed.
10 Related FAQs: How to...
Here are some quick answers to common "How to" questions related to managing orders on Webull:
How to Place a Stop-Loss Order on Webull?
To place a stop-loss, go to the stock's trading page, select "Sell" (for a long position) or "Buy" (for a short position), choose "Stop" or "Stop Limit" as the order type, enter your stop price, quantity, and time-in-force, then confirm.
How to Modify a Stop-Loss Order on Webull?
Webull typically doesn't allow direct modification of active orders. You'll need to cancel the existing stop-loss order first (as outlined above), and then place a new stop-loss order with the desired adjusted parameters.
How to Set a Trailing Stop-Loss on Webull?
A trailing stop-loss moves with the price of the stock. To set one, when placing an order, select "Trailing Stop" as the order type and specify the trailing amount (e.g., a fixed dollar amount or a percentage).
How to See All My Open Orders on Webull?
Navigate to the "Orders" section (usually at the bottom navigation bar on mobile or a dedicated tab on desktop/web). This section will display all your open, pending, and working orders.
How to Cancel Any Pending Order on Webull?
Similar to canceling a stop-loss, go to your "Orders" section, identify the pending order, tap/click on it, and select the "Cancel Order" option, then confirm.
How to Understand if My Stop-Loss was Triggered on Webull?
If your stop-loss was triggered, you'll see a corresponding "Sell" or "Buy" transaction in your "Filled Orders" or "Trade History" section, indicating the execution price. You'll also receive a notification.
How to Prevent Unintended Stop-Loss Triggers During Volatility?
Consider using "Stop Limit" orders instead of "Stop" orders to control the execution price, or place your stop price further away from the current market price. However, this increases your potential loss.
How to Check Order History on Webull?
In the "Orders" section, look for a "History" or "Filled Orders" tab or filter to view all your past executed and canceled trades.
How to Trade During Extended Hours on Webull?
When placing an order, look for a "Time-in-Force" option and select "Extended Hours" or "Good Till Canceled (GTC) + Extended Hours." Be aware that liquidity can be lower and volatility higher during extended hours.
How to Contact Webull Support for Order Issues?
If you encounter any issues with your orders or need assistance, you can contact Webull customer support through the app (Menu > Help Center > Contact Us), their website, or by phone.
