Hi all - can someone tell me if there is a way to add a profit target order to an existing stop loss order on TOS? What I'm trying to do is add the PT order so that the PT and the stop loss become one OCO order. Just wasn't sure if there was a way to accomplish this without just canceling the stop order to enter the full OCO order. Thanks.
Adding profit target to stop loss on TOS
- Thread starter torewy
- Start date
You can enter a OCO order with the price target being a limit order that executes when the market trades at that price. The other part of the OCO is the stop loss order, which becomes a market order once hit. Once, one order is filled, the other one is automatically cancelled. You can always change any order that remains open and not executed yet.
You can right click on the position from the monitor window and it will give "exit order" as a choice and one choice is "with OCO"
You can use Think or Swim active trader also to preset. With active trader DOM open, where it says "template" choose TRG w/brackets and then set your desired target and stop loss. Check box that says "auto send" and the orders will go in when your entry is filled.
Make sure "TIF" (time in force) is selected to show. It will default to GTC, and if you are enetering day orders, Think or Swim will not accept. Trigger and stop loss must match TIF of entry order.
Took me long time to figure out what I was doing wrong.
Sorry to the op. Don’t mean to hijack your thread but have a similar question.
I have trouble cutting my losses. Wondering if I can have a stop loss order which gets activated only if the stock buy limit order is filled.
Let’s say I set the limit order to buy 100 shares of SPY at $450. If it gets filled, then the stop loss should should get activated to take the loss if SPY trades below $448. Thanks
Very good explanation video that might help you better than me to try to type explain.