conditional trailing stop limit in thinkorswim

Discussion in 'Trading Software' started by ljwobker, May 13, 2011.

  1. ljwobker


    I'm trying to figure out if I got this right. The attached screenshot from the TOS interface shows an example order I put together, but I'm trying to confirm that all the knobs mean what I think they mean. In this particular example, what I'm trying to do is this:

    - buy 100 CEF @ LMT $20.00, then only when that fills, submit a stop-limit order to sell the same 100 CEF.

    The 2nd order will be submitted with a stop limit of (MARK - 1.00) (initially $19) and a limit offset of 10c.

    *if* I got this right, the max loss for the trade if the stock falls continuously is $19 (the initial stop price) less the 0.10 limit offset or a final price of $18.90. (Assume at least for now that the stop limit DOES fill).

    is that what this actually does, or do I have some of the parameters wrong?