One of the primary benefits of using stop limit is that once the trigger price is hit, the limit order is guaranteed to be placed in the market at the price you indicated or better.
Selling Example:
A sell stop limit order can be entered with a trigger price of Php 10 and limit price of Php 15 when a stock is trading at Php 20. If the price drops to Php 10, the sell order is automatically posted but not executed. The sale will not be executed until the price bounces back to Php 15 or higher.
Buying Example:
A buy stop limit order can be entered with a trigger price of Php 50 and limit price of Php 45 when a stock is trading at Php 30. If the price rises to Php 50, the buy order is automatically posted but not executed. It will not be executed until the price pulls back to Php 45 or lower.