How do I do this type of order with IB?

Discussion in 'Retail Brokers' started by SideShowBob, Aug 8, 2006.

  1. I'd like to place a stop market order that will be triggered under either one of the following conditions:
    1. The stop price is crossed and the price stays at or above the stop price for 1 minute
    2. The stop price is crossed and price then moves 1 point away in less than 1 minute

    Basically this would theoretically prevent "stop runs" where the price spikes through my stop price only to reverse within 5 seconds. I know this is every trader's dream (to avoid runs on stops) but I think it can be done with IB and I'm trying to decide how to best do it.

    Assume the buy stop price is 1402.30.
    I'm thinking two orders in the same OCA group:
    Order 1: Stop market at 1403.30
    Order 2: ???? This order would need to be triggered by a move above 1402.30 for 60 seconds. How can that be done?