That would no longer be the strategy that he wants to deploy, obviously. Look, I've wasted more than enough time engaging with you. You're clearly more interested in arguing (trolling) than in helping. Over and out.
Yeah, I too have wasted more time than is necessary in understanding such an illogical posting. Forget it! I better should not participate in such dumb discussions of illogical non-programmers, really.... Case closed, byeos!
Sorry, I got busy with other things and didn't pay attention to this thread. I didn't think it would generate so many responses. Thank you so much to everyone! I did try this with IB, to place more than 10 conditional orders that would only send limit orders if the price came close such as what you say, <=10.02. However, IB looks at the conditional orders in the same way as the limit orders in that as soon as you place more than 10 conditional orders of $10,000 each on a $100,000 non margin account, it won't allow you to place any more of them. However, if you think it can be done, I'll look at it again to see if it is possible. This would be the easiest solution for sure as it would avoid a lot of complicated automation.
I think I've figured out how I can make my 40 limit orders of $10,000 each on a $100,000 non margin account. It looks like Limit if Touched or LIT orders will work on Interactive Brokers. I tried issuing more LIT orders than the funds available in my account and it seems to work.
Sorry just read this thread and was about to say LIT orders. I do exactly that 40 orders to fill 10 spots at 10% of portfolio. I have rarely had a problem although during excess volatility it seems IB can tighten restrictions i think. I have only seen that in the Australian market though. But on a big gap day like Val said you could fill all 40 with the pattern day trade margin