"Stop if Touched" is this possible?
Hi, I am trying to find out if it is possible to setup the following scenario. I can't seem to find a way to do it, but I may be overlooking something.
I have a stock I am over allocated in and want to sell a portion of. Right now it is underwater, but not by a lot. What I want to do is sell some if the price comes back up to my average buy price. But what I don't want to do is put in a Sell Limit or a trailing stop. What I want to do is put in a STOP at my buy price once the stock trades over my buy price... but I want it to trigger automatically so I don't have to watch the stock all the time. That way I benefit from an upside move, but get out of the over-allocation if it falls back.
Does anyone know of a way to do this? I currently use IB and have read over most of their order types (http://www.interactivebrokers.com/en/p.php?f=orderTypes) and did not see a way to do this, but some of them were confusing.
Thanks for any help!
A
PS - an example:
Stock is at 98 now. I bought at 100. If the stock hits 101 I want a stop automatically put at 100.
I have a stock I am over allocated in and want to sell a portion of. Right now it is underwater, but not by a lot. What I want to do is sell some if the price comes back up to my average buy price. But what I don't want to do is put in a Sell Limit or a trailing stop. What I want to do is put in a STOP at my buy price once the stock trades over my buy price... but I want it to trigger automatically so I don't have to watch the stock all the time. That way I benefit from an upside move, but get out of the over-allocation if it falls back.
Does anyone know of a way to do this? I currently use IB and have read over most of their order types (http://www.interactivebrokers.com/en/p.php?f=orderTypes) and did not see a way to do this, but some of them were confusing.
Thanks for any help!
A
PS - an example:
Stock is at 98 now. I bought at 100. If the stock hits 101 I want a stop automatically put at 100.
ask them about first trigger oco
It is possible in NinjaTrader
Got it, thanks for the help. For those that might wonder I had to create an alert and use that alert to trigger the stop. There was no way to put in an order that did this. So I made an alert that triggered when the stock hit 101, and once triggered it placed the stop order at 100.
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