How to Place a Stop Loss Order blog.theoptionstradingcourse.com for more option trading training. If you have questions, either leave them in the comments below (I will answer, promise!) or go to my blog (See above) or my youtube channel http The thinkorswim platform is a great platform in general and for options traders in particular. It is a very easy to use platform. However one of the difficulties with the thinkorswim platform is that placing stop loss orders are not so intuitive. The following steps are required in order to place a stop loss order. 1) Initially you need to open a position (eg buy stock) 2) Create a separate stop loss order. This means putting in an order to sell the equivalent number of shares using a stop order. Stop loss orders can either be regular stop loss orders OR stop limit orders. Stop loss orders are activated below the stop price. Once activated they initiate a market order. They are pretty much guaranteed to fill but the price is not guaranteed. Stop limit orders involve setting both a stop price – below which the order will be activated – and a limit order price. The limit order price sets the order think or swim will send out once the stop is triggered.