|Forum - Gurus Answer Questions
||Gurus answer your questions about the art of trading.|
|From: Stan1trade (Rep: 0) reply to vaporize||Date: 07/02/2019 22:09|
|Forum: Gurus Answer Questions - Msg #679||Thread #674087823 (Rec: 0) |
|Re: Is there a way I can place both: "Stop Loss" and "Sell Limit" at the time of ...|
I don't know specifically, but ThinkorSwim had some pretty sophisticated order entry back when I was using them a few years ago. I imagine they have only gotten better.
I'd just call the broker and ask.
| Reply to vaporize - Msg #673 - 06/24/2019 03:26|
Is there a way I can place both: "Stop Loss" and "Sell Limit" at the time of purchasing the stock? That way the stock auto-sells if it falls below a previous low (support) or auto-sells if it reaches a previous high (resistance).
For example in Robinhood (RH):
I bought 100 shares of AMD at $30 with a "Stop Loss" at $29.00. I want to auto-sell at $31(previous high) but RH said I cannot place the "Sell Limit" order since I already have a "Stop Loss" order in place.
I missed out on selling shares at $31 while I was at work. Now the stock is at $29.10. If I had placed a "Sell Limit" order instead of "Stop Loss", it would have sold at $31. But I dont want to leave a stock with only "Sell Limit" order without a backup "Stop Loss" order.
If RH does not have this feature: is there another broker that has this feature?
Is this known as OCO (One-Cancels-the-Other Order) or is there another name for the feature I am describing above.
NOTE: This message was originally posted on 2019-06-24 00:45:21 by the vaporize.
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