newbie trade question...

M

mcast12

I use IB and I want to put a buy order when a stock reaches a certain price above the current price and not before (to confirm a breakout).

Would that be a MIT order? If I try LMT order is autobuys it as it's below my limit price.

Thanks in advance.
 
Quote from deaddog:

use a stop or stop limit order
More...

Thanks.

So if I want to buy ABC at $105 (currently $100), I put a stop order on with a price of $105. As soon as it hits that price it transmits a market order?

I also need to add a stop on the stop order, so basically I have to create 2 stop orders, one to buy at $105 and one to sell at let's say $104?
 
You got it

When you place your order you can attach another order to place a stop loss or a bracket order to exit either side of your initial order.

Take one of IBs tutorials on order entry.
 
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