Multiple Exits Advanced Order

[spencer13579]

I got another newbie question for you. Does anyone know how to set up a First Triggers OCO order with multiple exits. Like buying 100 shares at $5, and having a limit order to sell 25 shares at $5.25, 25 more at $5.50, 25 at $5.75, and the last 25 at $6. Just for risk mitigation purposes, because right now I would have to wait for it to hit $5.25, and then create another order, and so on. I know it has to be possible, I just can't seem to figure it out. Thanks for any input!

 

[rad14733]

You wouldn't necessarily use a One Cancels Others for those staggered exits... They could be done as individual orders... A First Triggers Sequence OR First Triggers All would be better options... Study up on the numerous order types and call TDA if you have questions before putting your money on the line...

 

[spencer13579]

You wouldn't necessarily use a One Cancels Others for those staggered exits... They could be done as individual orders... A First Triggers Sequence OR First Triggers All would be better options... Study up on the numerous order types and call TDA if you have questions before putting your money on the line...

Copy, thank you!

 

[camoukilla2]

I got another newbie question for you. Does anyone know how to set up a First Triggers OCO order with multiple exits. Like buying 100 shares at $5, and having a limit order to sell 25 shares at $5.25, 25 more at $5.50, 25 at $5.75, and the last 25 at $6. Just for risk mitigation purposes, because right now I would have to wait for it to hit $5.25, and then create another order, and so on. I know it has to be possible, I just can't seem to figure it out. Thanks for any input!

Use a 1st Trgs Sequence with 4 order legs each selling 25 shares each all set at different limit prices. 1st @ $5.25, 2nd @ $5.50, 3rd @ $5.75, and 4th @ $6.00.
Ensure the top order leg is the $5.25 order and the order them from smallest to largest. Then this forces the orders to be completed in the order you set them.

You could also implement a trailing limit order so that you can capture additional profit if any of the orders begin to "run". Just set a stop limit of anything you would be comfortable with losing. For example if you are selling the first leg @ $5.25, maybe set a stop limit of $0.25 so that you still sell at $5.00 if things go south, but if the stock "runs", you may end up selling at $5.60 if the stock rises to $5.85 and then drops the $0.25 smount you set. Maximize earnings whenever you can!!

Hope this helps.

Thomas