The Target Price is set as a Limit Order, while the Stop Loss is a Market order. An easier way is to use a TRG w/bracket order. You can either use a fixed price or a relative one based on a percentage. The important thing is that you have a stop loss in place, and if youre using a Risk/Reward system you would have a Sell Limit Order set at your target price and a Stop Loss Market Order set at your risk price. To set a trailing stop loss on the td ameritrade desktop platform, you must define order type when creating your position and then define trailing stop loss in dollars or percentages.
How to set trailing stop loss in thinkorswim how to#
When a limit order triggers, it acts as a floor (or ceiling, if you're in a short position), so you get that price or better. How To Set A Trailing Stop Loss On Td Ameritrade from. That's good for a stop so you can get out quick. Tl dr: When a market order triggers, it fills at any price. For a long position, place a trailing stop loss below the current market price. The only time there would be an issue getting your limit order filled would be if the price just barely peaked at your target level then dropped again without enough volume to fill all the orders at that price. A trailing stop order is a conditional order that uses a trailing amount, rather than a specifically stated stop price, to determine when to submit a market order. If the price is moving fast in the direction you want it to go and passes your target, there wouldn't be much difference between a market order and a limit order because the limit always gives you the order price or better, not that exact price. Answer (1 of 3): Do you mean for execution in the after hours market In order to do that, you have to have have account with after hours market privileges from a broker. I'm pretty sure the take-profit side of an OCO order in ToS defaults to a limit order. I'm assuming you're talking about placing a bracket order that creates a stop on one side and a take-profit order on the other. I'm still fairly new to all of this, so take my 'experience' with a grain of salt. Once you're done with that pop up window you can close it, and click "Confirm and Send", another confirmation box will pop up, if the order is what you want you click "Send" and the order will be placed. If you want more information about the order click the little cog on the right the one in the red section and a window will pop up with some other options and at the bottom theirs a text description of the order that will tell exactly what the order is. Once everything is set click "Confirm and Send". Select "with Stop" when the order pops up, make sure it's set to a Market Stop order, make it GTC good till canceled, and set the price at which you want the order to trigger. In the Monitor tab right click on the stock you want to place the stop loss on, and select "Place Closing Order" from the menu. If you have an existing order that doesn't have a stop loss on it, you want to go into the Monitor tab. It sounds like you put in another buy order. The price shouldn't go up when you add a stop loss.