IB TWS: How to submit a stop loss when a limit order is filled

[cunparis]

I enter my limit orders before the open and I'm not always around to monitor them so I'd like to have a stop loss & target (limit) placed automatically once my limit is filled. Is this possible with IB?

 

[cunparis]

I think I found it, I'm testing it out today:

http://i50.tinypic.com/30rqwdt.jpg

docs are here:

http://www.interactivebrokers.com/e...ook/configuretws/attached_orders_defaults.htm

it's called "attached orders". they don't have an option for a target so I added a stop and changed it from a stop to a limit.

 

[tomahawk]

You can also "attach" just a single order (e.g., stop OR target) by using the 'conditional orders' feature. Set the 2nd order (stop or target) to trigger when price touches your initial limit entry.

 

[trackstar]

Yes, IB can do exactly what you want. Give them a call and explain and they will set you up.

You could just setup a conditional order for the limit(target) that gets placed if the market moves under or above X price.

 

[cunparis]

Quote from trackstar:

Yes, IB can do exactly what you want. Give them a call and explain and they will set you up.

You could just setup a conditional order for the limit(target) that gets placed if the market moves under or above X price.

Is it possible to have a stop loss & target at a fixed percentage instead of in price?

If my test today doesn't work then I'll give them a call.

Thanks

 

[sculptor66]

An attached stop order is the best solution.

I would refrain from a conditional order. Just because the market reaches your limit price, there is no guarantee that the limit order is actually filled.

 

[trackstar]

Quote from cunparis:

Is it possible to have a stop loss & target at a fixed percentage instead of in price?

If my test today doesn't work then I'll give them a call.

Thanks

I'm sure it can be done, but I don't know how to do it.

 

[cunparis]

Quote from sculptor66:

An attached stop order is the best solution.

I would refrain from a conditional order. Just because the market reaches your limit price, there is no guarantee that the limit order is actually filled.

That's what I was thinking.

So far my limit orders fired and a few filled. On the portfolio page it looks like my stop & target (limit) orders are active so I'll watch it closely just to make sure.

I go on vacation for 2 weeks and I'd like to enter my orders in the morning and forget about them. So I'll be really happy if this works.

Thanks