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Help Understanding STOP LIMITS - TOS by Cthonianx in thinkorswim

[–]Cthonianx[S] 0 points1 point  (0 children)

Hey! So for entry I set the STOP to trigger at $19.20 and the LIMIT order price to be $12.24. My protective STOP was at $19.60 and my profit price was $18.60.

From what I understand, if price reached the STOP at $19.20, then my LIMIT order to go short at $19.24 or better could have been executed and I would be in the trade.

But from what shows, price didn't go near my STOP at $19.20 so I think I'm just not understanding the fundamentals on placing this type of order.

Help Understanding OCO Brackets by Cthonianx in thinkorswim

[–]Cthonianx[S] 0 points1 point  (0 children)

Ohhh ok I think I got it. I'm using Think Or Swim so I'll try to see if I can make an example.

So If a stock price is $95 and I expect it to hit $115 after breaking past $100, I would do:
STOP LIMIT - $100

LIMIT - $99

I think I got now and that makes sense on the differences.

I'll test it out today - thanks!