IB Setting Limits above and below buy in

Discussion in 'Retail Brokers' started by DisciplinedHedg, Apr 30, 2002.

  1. Is anyone here proficient with IB's TWS such that I could set a limit above and below buy in?

    This is what I want to do. Once I'm in a long position. I want to set a 2% loss stop, but also a 6% gain stop. Such that when either is triggered, the other is cancelled.

    I faintly recall someone talking about this, but cant find info.

    Can someone provide a brief explanation how to do this?

    GREAT APPRECIATED.
     
  2. They are called OCA orders

    Go to IB's site & look at the Users Guide. They are explained under the trading section.
     
  3. Miki

    Miki

  4. Intrinsic, Miki - Thanks for the replies. Answers my question exactly and I'm already using OCA orders.
     
  5. Why not figure out your own percentages as to where you want
    your gain/loss stops? And then put in your OCA orders?