IB Setting Limits above and below buy in

[DisciplinedHedg]

Is anyone here proficient with IB's TWS such that I could set a limit above and below buy in?

This is what I want to do. Once I'm in a long position. I want to set a 2% loss stop, but also a 6% gain stop. Such that when either is triggered, the other is cancelled.

I faintly recall someone talking about this, but cant find info.

Can someone provide a brief explanation how to do this?

GREAT APPRECIATED.

 

[Intrinsic]

They are called OCA orders

Go to IB's site & look at the Users Guide. They are explained under the trading section.

 

[Miki]

There is an OCA sample here: http://www.mrswing.com/en/oca-order.html

 

[DisciplinedHedg]

Intrinsic, Miki - Thanks for the replies. Answers my question exactly and I'm already using OCA orders.

 

[version77]

Why not figure out your own percentages as to where you want
your gain/loss stops? And then put in your OCA orders?