Opened a TD Ameritrade account last week. Having a good time and even made a good return on BAC Thursday I think I have a good handle on "Buy Market", "Buy Limit", "Sell Trailing Stop %" orders and I have gotten my feet wet with "Conditional", and "Trade Trigger" orders. My most complex order has been to place a OTA buy limit order which triggers a sell trailing stop order on the just purchased stock. This seems to work just fine when my limit buy order is less than the market price. SDS closed at $86.98 today. If I wanted to place an order to buy SDS at no more than $90 Monday morning before the market opens (I'll be at work at 9:30) and automatically trigger a sell trailing stop order on the just purchased shares, how would I do that? Thanks
After doing additional research, it looks like what I want to do is place a Conditional "Trade Triggers" order. I don't believe that is possible in the tool set provided by TD Ameritrade. All comments are welcome.
Wait until TD merges with thinkorswim in a few months. You will be able to do those types of orders on the ToS platform.