I enter my limit orders before the open and I'm not always around to monitor them so I'd like to have a stop loss & target (limit) placed automatically once my limit is filled. Is this possible with IB?
I think I found it, I'm testing it out today: http://i50.tinypic.com/30rqwdt.jpg docs are here: http://www.interactivebrokers.com/e...ook/configuretws/attached_orders_defaults.htm it's called "attached orders". they don't have an option for a target so I added a stop and changed it from a stop to a limit.
You can also "attach" just a single order (e.g., stop OR target) by using the 'conditional orders' feature. Set the 2nd order (stop or target) to trigger when price touches your initial limit entry.
Yes, IB can do exactly what you want. Give them a call and explain and they will set you up. You could just setup a conditional order for the limit(target) that gets placed if the market moves under or above X price.
Is it possible to have a stop loss & target at a fixed percentage instead of in price? If my test today doesn't work then I'll give them a call. Thanks
An attached stop order is the best solution. I would refrain from a conditional order. Just because the market reaches your limit price, there is no guarantee that the limit order is actually filled.
That's what I was thinking. So far my limit orders fired and a few filled. On the portfolio page it looks like my stop & target (limit) orders are active so I'll watch it closely just to make sure. I go on vacation for 2 weeks and I'd like to enter my orders in the morning and forget about them. So I'll be really happy if this works. Thanks