problem with order entry IB

V

vetten

hello folks,

IB is my broker and they have 40 different order types, so I wonder why I`m getting confused sometimes.

I`m trading the Darvas way so how should I place the following order example??????????

Say the highest price for a stock was $ 50.00, its now $ 49.50 and I want to place a stop/limit order for 100 shares at
50.10/50.20.

So far I can do that, but then the stock might gap up at the opening, come down and hit my stop price.

I dont want to buy at that stage; I only want to buy if my stop price get hit from below.

so I want my order automaticly cancelled if the price gaps up above my stop/limit price.

any clever ideas?????

thanks a bunch
:)
 
thank you dd

I tried to do your trick, but it said that conditional orders can only be done with limit or market orders, not with stop/limit orders.

In my example, if the open is at say $ 49.60, IB would buy those shares for me, because the limit is $ 50.20 or better.

Am I wrong here and if so, what do I fill in on the order ticket to get what I want?

thanks for your help

Johannes
 
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