IB TWS: How to submit a stop loss when a limit order is filled

Discussion in 'Order Execution' started by cunparis, Feb 11, 2010.

  1. 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?
  2. 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.
  3. 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.
  4. 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.

  5. 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.
  6. I'm sure it can be done, but I don't know how to do it.
  7. 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.