Any chance we can have stop buy orders (placed above current price) that are cancelled if price crosses beneath a selected price (below current price)?
E.g. Current price is $10
Buy 1,000 shares if price reaches $10.05
Cancel buy order if price falls below $9.95
We need
Order type: buy stop
Field #1 - buy stop price
Field #2 - price level if crossed to cancel order
Thanks!
As I understood from pervious answers, this will never happen because this platform is tailored for long term investors and doesn’t want to accommodate day traders.
I wholeheartedly disagree with their plan, but it is what it is.
Day trading? No. I don’t want to manually check if price went too far against me and then cancel my buy order - or even worse have it trigger but after it invalidated my trade idea.
So If I think a buy at $10.05 would be great I can maybe stay in this until $25-30. But if price goes against me and below $9.95 there’s clearly more bearish price action happening before it’s ready to rally. And I don’t want to be buying and then have my funds locked into a trade that’s going against me. I’d rather have my buy ordered cancelled and reconsider at a later date, when/if it sets up again.
That and I want my funds to be cleared if trade ideas are invalidated, so then I can allocate them elsewhere.
It saves me having to check every order and every stock every day.
I set it - it triggers good I’m long - it get cancelled, okay price went against me so I no longer wish to be tagged into a long.