Conditional Orders

Discussion in 'Retail Brokers' started by Richard Duncan, Mar 19, 2007.

  1. Can anyone please suggest an inexpensive broker that accepts conditional trade orders? For example, if initial order is filled, execute stop loss at 44.00 or sell at 48.00, whichever comes first.
    I can't watch a screen all day and want to be able to set a stop if I get filled, or sell if target is reached. All too often my target gets reached (I'm at work), and price turns around and goes all the way back down - and sometimes further! Very frustrating. At the moment I'm with Scottrade - don't take complex orders.

  2. Retief


    Interactive Brokers. Enter the order, right click on it and choose attach bracket orders.
  3. MTE


    Thinkorswim offers conditional orders as well.
  4. GTC


    Overall inexpensive brokers that will let you make such conditional orders are just2trade, IB and AmeritradeIzone etc. Just2trade calls it Logical Order. You should be able to set it up with Trade Trigger in AmeritradeIzone. In IB (and some other brokers), it is called bracket order or OCA ("one cancel another") order.
  5. Thanks to all for your suggestions. Will explore.......