Hi everyone, How would I set up a limit buy order with IBKR so that it can execute if the opening price is below a certain number? I believe this is possible if you combine a price and time condition. For eg, buy 10 shares @100 but only if the open is less than 100.2. Cheers
I know you can do it on the TWS platform. Not only can you set it to trigger a buy/sell order based on the price of the underlying, but you can use the price of a different underlying to trigger it as well.
I would also like to set a lower cap on my limit order. I dont think it is possible to do this on IBKR. Say for eg the market price of a stock is 98 Set a limit order for 10 shares @ 100, but I dont want to pay any lower than 99.
Yes, in TWS, you can set a conditional order that will trigger by a price level. The thing is, it won't know what the official open price is. So you may get triggered by a crazy price just after open. What I used to do (in liquid stocks) is have the condition be based on a price level pre-open. So if the stock is above $xx.xx at 9:29:50, trigger a limit order accordingly. You have to make sure the trigger is set to use pre-open prices.