Is it possible to enter a order to either buy or short and have the order that doesnt fill cancel after the other fills? For example: If ES is trading at 1150.00 can I put an order to buy at 1152.00 and short at 1148.00 at the same time and then have the short auto cancel if the long fills? Thank You. Forgot to metion that I am using IB with TWS.
Yes, to do that you need to use "OCA group" feature in TWS. Please note that there are 3 different methods of handling OCA orders, these methods differ in how IB's system treats partial fills and whether it provides overfill protection or simply does best effort attempt to fill only one of your orders.