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.
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?
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.