hello folks, IB is my broker and they have 40 different order types, so I wonder why I`m getting confused sometimes. I`m trading the Darvas way so how should I place the following order example?????????? Say the highest price for a stock was $ 50.00, its now $ 49.50 and I want to place a stop/limit order for 100 shares at 50.10/50.20. So far I can do that, but then the stock might gap up at the opening, come down and hit my stop price. I dont want to buy at that stage; I only want to buy if my stop price get hit from below. so I want my order automaticly cancelled if the price gaps up above my stop/limit price. any clever ideas????? thanks a bunch
Yep. It's called a conditional order. http://www.interactivebrokers.com/en/trading/orders/conditional.php?ib_entity=llc
thank you dd I tried to do your trick, but it said that conditional orders can only be done with limit or market orders, not with stop/limit orders. In my example, if the open is at say $ 49.60, IB would buy those shares for me, because the limit is $ 50.20 or better. Am I wrong here and if so, what do I fill in on the order ticket to get what I want? thanks for your help Johannes