newbie trade question...

Discussion in 'Order Execution' started by mcast12, Oct 27, 2009.

  1. mcast12

    mcast12

    I use IB and I want to put a buy order when a stock reaches a certain price above the current price and not before (to confirm a breakout).

    Would that be a MIT order? If I try LMT order is autobuys it as it's below my limit price.

    Thanks in advance.
     
  2. use a stop or stop limit order
     
  3. mcast12

    mcast12

    Thanks.

    So if I want to buy ABC at $105 (currently $100), I put a stop order on with a price of $105. As soon as it hits that price it transmits a market order?

    I also need to add a stop on the stop order, so basically I have to create 2 stop orders, one to buy at $105 and one to sell at let's say $104?
     
  4. You got it

    When you place your order you can attach another order to place a stop loss or a bracket order to exit either side of your initial order.

    Take one of IBs tutorials on order entry.