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Stop Orders - place x2 at the same time


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Hi - i'm looking to understand whether it is possible to place x2 stop order's at the same time, which if the first is filled then the second auto cancels. I'm trading intra-day and often see where the price level remains within a small range for a period of time and then breaks to the upside or downside. 

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8 minutes ago, wixy24 said:

Hi - i'm looking to understand whether it is possible to place x2 stop order's at the same time, which if the first is filled then the second auto cancels. I'm trading intra-day and often see where the price level remains within a small range for a period of time and then breaks to the upside or downside. 

Hi, yes you can place a stop order above and below the current price but not sure which platform and if has a OCO (one cancels other) function, you may need to manually cancel the one not triggered.

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Guest Firewing

Hi,

I'm new to trading. I have a somewhat related question.

Suppose I buy index stock X at 1,000 with stop at 40 but no upper limit. After some time it rises to 1,500. Can I put in a mechanism that sells the stock if it falls to 1,400? This way I won't have to worry about taking in a loss.

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Hi,

I'm new to trading. Have a question. Suppose I buy stock X on the index at 1,000 with a stop of (at 960). The index rises to 1,500 after some time. Can I use a mechanism to sell the stock at 1,400 to stop any future loss in case it does go down to 960?

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15 hours ago, Firewing said:

Hi,

I'm new to trading. Have a question. Suppose I buy stock X on the index at 1,000 with a stop of (at 960). The index rises to 1,500 after some time. Can I use a mechanism to sell the stock at 1,400 to stop any future loss in case it does go down to 960?

Hi, yes a stop loss order is just an order to sell the same amount of stock at a set price below the current price. You should be able to move your original stop but if not you can create a new one.

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