Trouble taking partial profit in ThinkorSwim

Vince Field

Member
Thinkorswim doesn't allow me to scale out (take partial profits) when I have a stop order in place. For example, if 100% of my position has a stop loss set for -1R, it won't let me sell 50% of my position at +1R. It thinks I want to short sell the stock. I have to cancel the stop loss in order to scale out. Is there a way I can sell part of my position with a full stop loss in place?

I was just messing around in the platform and I was able to do what I requested in my initial post. But I was trading earlier today and I wasn't able to do it. It was telling me that I couldn't short sell. I'm not sure what caused the error but I don't recall doing anything differently. Oh well. For anyone curious, you can set the stop loss in active trader by clicking the price in the "ask size" column (below the entrance price), and then chose the sell limit orders by adjusting the share size and clicking the prices you want to scale out at in the same "ask size" column but above the entrance price. You can also choose OCO or trigger w/bracket orders to set all the levels at once.
 

rad14733

Well-known member
VIP
What you have described is standard functionality for Thinkorswim... Are you reporting a problem or just restating known facts...??? Thinkorswim has several ways to enter and exit trades but isn't especially geared towards partial Buys or Sells... We have to work within the constraints of the platform... Truth be told, I have never bought or sold a partial lot - equities by the 100 share lot and options by the contract, both singly or in multiples...
 

Vince Field

Member
@rad14733 When I wrote the initial post I was under the belief that it wasn't possible to scale out with a stop loss in place because the platform had not allowed me to on many occasions and I couldn't figure out why. With further experimenting it seems I am in fact able to do this. I am clueless as to why I wasn't able to do it before. Perhaps I did something differently but I don't know what it could be.
 

rad14733

Well-known member
VIP
@rad14733 When I wrote the initial post I was under the belief that it wasn't possible to scale out with a stop loss in place because the platform had not allowed me to on many occasions and I couldn't figure out why. With further experimenting it seems I am in fact able to do this. I am clueless as to why I wasn't able to do it before. Perhaps I did something differently but I don't know what it could be.
As you have no doubt discovered, you can place multiple stoplosses... I use them sometimes to exit trades of multiple option contracts... I do the same with limit orders for taking profit... Glad to hear that you are getting things sorted... ;) (y)
 

talv1

New member
I was just messing around in the platform and I was able to do what I requested in my initial post. But I was trading earlier today and I wasn't able to do it. It was telling me that I couldn't short sell. I'm not sure what caused the error but I don't recall doing anything differently. Oh well. For anyone curious, you can set the stop loss in active trader by clicking the price in the "ask size" column (below the entrance price), and then chose the sell limit orders by adjusting the share size and clicking the prices you want to scale out at in the same "ask size" column but above the entrance price. You can also choose OCO or trigger w/bracket orders to set all the levels at once.
Hi Vince, i'm having the same issue that you described above, getting the error that I cannot short since I already have my stop in place. I understand that i can buy and then click under the entered price to manually place my stop but what happens if you place a stop on 100 shares, then manually take partial profits on 50 shares, does your stop loss automatically adjust to the remaining shares?
 

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