Yep, it's called auto stop. Make your entry order in TWS (Stop,Stop limit,Limit) then right click on the order and select "attach auto stop". This can be a simple stop or a stop limit. Adjust each order as desired. Then transmit the entry order. The exit order is automatically attached. When the entry order is filled, the exit order goes into effect immediately. I use this all the time and it works wonderful. Banker
The same thing happens to me when I want to attach auto stops. I create a stop limit buy order and then attach an auto stop sell order. The auto stop sell order will only trigger if the entry order has filled, therefore there is no risk that I would be short the stock. I have tried these orders on short squeeze plays and if the stock isn't available for borrow, the order won't take in the system. It's really frustrating. Banker
I thought I read this somewhere at IB. I want to trade an SSF, but I want my orders to buy/sell the SSF to trigger when the stock moves, not when the SSF's price changes. I think there is a way to set this up in TWS. If anyone knows, I would appreciate a reply. Example I want to short SYMC's SSF. I want to get short the single stock future when SYMC trades below $44.48 How would I set that up? Thanks in advance, Banker
Yes, you can do this using Conditional Orders. First set-up your order, .e.g sell SYMC SSF at market. Then, right click on the order line and select "Make Conditional". You will then have a box pop up which will allow you to put in the condition details, e.g. SYMC Stock trades below $44.48
Your first order is just a standard stop order. You can set this up and then right click on the order line and select "Attach Autostop"
Thanks Steve, That is a really nice feature. I am so impressed with the types of orders your brokerage allows me to place. I love it! Banker