problem with order entry IB

Discussion in 'Order Execution' started by vetten, Jul 3, 2006.

  1. vetten


    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

    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
  2. ddunbar

    ddunbar Guest

  3. vetten


    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