TransWikia.com

How to place Stop-Limit order below current price, and multiple Limit orders above?

Personal Finance & Money Asked by J Tray on December 10, 2020

I purchased 500 shares of an ETF at $64. I want to set up a stop-limit to sell all 500 shares if the price hits my stop of $63.80. But if the price goes up, I want to sell 200 shares at $64.50 and 300 shares at $65.

I know how to do an OCO with just two orders (for instance if I wanted a stop-limit at $63.80 and to sell everything above $65). But I can’t figure out how to create something with three orders like this (with two or more limit orders above the current price, each selling a portion of my holdings as the price moves up).

I am using the ThinkOrSwim trading platform from Ameritrade. Whenever I try to create the first two orders (the stop-limit at $63.80 and the limit at $64.50), if I then try to create another limit order to sell the remaining 300 shares at $65, then thinkorswim cancels the first order (because it treats it as conflicting with the stop-limit, I think).

What is the correct way to create an order like this in thinkorswim?

One Answer

One way is to set conditional orders when you open the trade, then input your limit orders and place a stop on each individual limit order.

Answered by Greybeard413 on December 10, 2020

Add your own answers!

Ask a Question

Get help from others!

© 2024 TransWikia.com. All rights reserved. Sites we Love: PCI Database, UKBizDB, Menu Kuliner, Sharing RPP