Prevent GTC Conditional Stop Orders from executing at the Market Open

[range47]

I’m looking for a way to prevent my GTC Conditional Stop Order from executing during the first 15 or 30 minutes after the market opens. This would help me avoid abnormal market swings caused by political news overnight—like yesterday, when tariff news over the weekend caused the market to drop at the open, but it quickly recovered. My GTC stop orders were triggered in the first 10 minutes, which I’m trying to protect against in the future.

The trade desk suggested I place a new GTC order every day, but that’s not feasible and it’s not an effective solution.

What I’m thinking : for a GTC order, it could be helpful to define a time window (start time and end time) where the order won’t execute on any day. Alternatively, script something that sends a new OCO Conditional Stop order at 10 am ET each day, cancels it before market close, and repeats this process until the order is executed. The first option seems simpler than the second.

Has anyone implemented a solution like this to protect against early market swings, or have any insights to share? Any feedback would be greatly appreciated. Thanks in advance!

 

[rad14733]

@range47 What is you StopLoss criteria...???

There may or may not be a way to accomplish this using a Conditional Order Custom Study but without knowing your criteria there is no way to verify this possibility...

We can't automagically Cancel and Reopen part of a bracket order, or any order for that matter...

Conditional Orders are a one-and-done unless there might be a way to set multiple brackets but doing so would take time and effort for every trade...

There are YouTube videos that explain how to set multiple brackets, which are mainly used for scaling out of trades, incrementally, as price changes... That might be an option for you but I, personally, would be hesitant to attempt to come up with a Conditional Order for another trader because, after all, it's your money that is at stake should the CO not perform as expected...

 

[range47]

@rad14733 The stop loss criteria are based on a static price level (e.g., the stop loss is triggered when the price falls below a specified level). However, on eventful days (such as a "Deep Seek day" or a "Yen Carry Trade unwind day"), the market experienced significant volatility at the open, causing the stop loss to trigger right at market open due to large price swings.

To avoid this by excluding the first 15, 30, or 60 minutes of market open from executing GTC close orders. I’m looking for a solution that ensures stop loss orders aren't triggered during this initial volatile period, without having to manually adjust or place new GTC orders each day (as suggested by the Trade Desk).

Any insights on how to implement this or pointers to a more efficient way to achieve it (aside from the manual process) would be greatly appreciated.

 

[rad14733]

@range47 Here is an example of how you could achieve your desired OCO's StopLoss to not trigger until after a specific time... Now, this is risky so be aware of that... It isn't a method I would ever use so you assume all risk...

You would first create your OCO for the Entry, Limit, and Stop criteria of your choice and then for your Stop you would Click on the small gear to the far right of the order entry panel...

In the Order Rules panel just verify the settings in the upper section and then Check the Submit at Checkbox and enter the proper Date and Time when you want the Stop order to go into effect... Once everything looks good there Click on Save, review your OCO and Click Confirm and Send...

That should set your OCO according to your OCO Rules...