On condition orders

• 07/01/2024 at 2:31 PM #234651
  Morpheous

  Hi guys, is there a way to create stop order if a limit order is filled?

   

  for example

  buy 1 contract at down limit
  sellshort 1 contract at up limit

   

  Can I automatically associate a stop with that if price reaches up or down and the appropriate order is filled?

  

  Morpheous

  Participant

  Topics: 30

  Replies: 83

  Been thanked: 12 times
  07/01/2024 at 4:58 PM #234661
  robertogozzi

  No, as both could be entered, with the last one reversing the first one triggered.

  You can only place the first pending order and, when the candle closes, place the STOP order if the first one has been triggered.

  There’s a solution using only ONE pending order + SET STOP PRICE. Here is your example modified:

  buy 1 contract at down limit SET STOP PRICE up

  1 2	buy 1 contract at down limit SET STOP PRICE up

  if the pending order is not triggered, then SET STOP PRICE will have no effect. If it’s triggered, instead, SET STOP PRICE will remain SET until the trade is closed (not just one candle as pending orders do).

  2 users thanked author for this post.

  Iván, Morpheous

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17615

  Been thanked: 4333 times
  07/01/2024 at 6:12 PM #234664
  Morpheous

  robertogozzi wrote:

  No, as both could be entered, with the last one reversing the first one triggered.

  You can only place the first pending order and, when the candle closes, place the STOP order if the first one has been triggered.

  There’s a solution using only ONE pending order + SET STOP PRICE. Here is your example modified:

  buy 1 contract at down limit<br /> SET STOP PRICE up

  1 2	buy 1 contract at down limit SET STOP PRICE up

  if the pending order is not triggered, then SET STOP PRICE will have no effect. If it’s triggered, instead, SET STOP PRICE will remain SET until the trade is closed (not just one candle as pending orders do).

  It’s not ideal, I thought maybe there might be a way of attaching the stop to the order as there is with manual trading on the platform.

  Of course I’ll have to work with what we have 😉

  

  Morpheous

  Participant

  Topics: 30

  Replies: 83

  Been thanked: 12 times
• Author
  Posts