I was wondering if this is possible or if it was against exchange rules. Or possibly it depends on who you trade through. Let's assume the current stock price is $5. You want to place a Buy-Limit at $4 and a Sell Short-Limit at $6. Are the following scenarios possible? A) If the Sell-Limit is filled @ $6. You don't want the Buy @ $4 to cancel. It remains. You are now short. You place a third order, a Buy-Limit at $5.50 to cover and be flat. B) That Buy-Limit sitting at $4 is filled. You do not want the Sell Short @ 6 to cancel. You are now long. You place a third order, a sell at $4.50 to be flat. I don't wish to be "boxed". I'm not trying to be long/short at the same time. I'm simply trying to bracket the current price and fill whichever order that is hit first. Without cancelling the other order. My only question is, are you prevented by anyone from doing this. Thank you.