With Trade Strategies, a wizard guides you through the process of framing your conditional order strategies.
- Select the type of strategy
- Specify the price you want to receive and the market conditions which must be met before your order is placed
- Specify market conditions which will cause the strategy to be automatically abandoned
- Set strategies for entry and exit so that both sides of your position are covered
Sample strategy:
“Entry Trade—Buy 100 shares of CSCO if the stock falls to
$19.85. This is a market order. Abandon the entire strategy if the
stock falls below $19.05, or if it rises above $20.02, or if entry is
not achieved by 11a.m. EST.”
Add, edit, remove or submit strategies with the click of a button. Your OCO and OTO order strategies are held server side so they will be triggered even if you are not logged into the system.
Trade Strategies include:
Long Strategies (Buy)
Indicate the price at which you desire to purchase a long position. At the same time indicate the prices for your profit trade and protective trade.
- Profit Trade: a strategy to sell the stock for profit if the stock prices moves higher than the price you bought at.
- Protective Trade: a strategy to sell the stock to minimize losses if the stock moves lower than the price you bought at.
Short Strategies (Sell Short)
Indicate the price at which you desire to enter a short position. At the same time indicate the prices for your profit trade and protective trade.
- Profit Trade: a strategy to buy-to-cover the stock for profit if the stock prices moves lower than the price you bought at.
- Protective Trade: a strategy to buy-to-cover the stock to minimize losses if the stock moves higher than the price you bought at.
Existing Position Strategies
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Create both profit and protective strategies on a position you already hold.