Hello fellow Scripters,
I for the life of me cannot remember how to set up a custom OCO bracket to save my life. I'm switching up my strategy and the previous one's that I have do not accommodate my needs. I've watched YouTube videos, but they don't really explain my specific request. This is why I'm resorting to my fellow community for their grateful guidance.
My question is this:
Straddle: - I buy 10 contracts of let's say "XLE" for x at whatever strike. I would like a automatic sell order that closes both out when I hit a desired profit, in this case lets say $500.
Another one is a Strangle, but with different Strikes. Example: I want to buy 5 98Cs and buy 5 93P's for whatever Expiry date. Again, same thing as above, I would like to have both of these closed out with a set dollar amount.
And if possible... Lets say my target price was hit on my strategy, How would I add a trailing stop w/ LMT if it rally's and continues (to protect my target gains, but also continue to ride the train. I know traditional trailing stops are usually MKT orders) but still secure and lock in my initial profit target?
As always, everyone of you are awesome, and that's why I continue to enjoy to be a part of this community. I have spent 100's of hours reading thru threads continuously trying to learn all because of everyone's input.
Regards,
JMD
I for the life of me cannot remember how to set up a custom OCO bracket to save my life. I'm switching up my strategy and the previous one's that I have do not accommodate my needs. I've watched YouTube videos, but they don't really explain my specific request. This is why I'm resorting to my fellow community for their grateful guidance.
My question is this:
Straddle: - I buy 10 contracts of let's say "XLE" for x at whatever strike. I would like a automatic sell order that closes both out when I hit a desired profit, in this case lets say $500.
Another one is a Strangle, but with different Strikes. Example: I want to buy 5 98Cs and buy 5 93P's for whatever Expiry date. Again, same thing as above, I would like to have both of these closed out with a set dollar amount.
And if possible... Lets say my target price was hit on my strategy, How would I add a trailing stop w/ LMT if it rally's and continues (to protect my target gains, but also continue to ride the train. I know traditional trailing stops are usually MKT orders) but still secure and lock in my initial profit target?
As always, everyone of you are awesome, and that's why I continue to enjoy to be a part of this community. I have spent 100's of hours reading thru threads continuously trying to learn all because of everyone's input.
Regards,
JMD
