Could you please clarify a few things about order types?
1. Is it possible to place a buy order on a parcel of shares where the target buy price is much higher than the current price, i.e. the buy order is not triggered until a price break out occurs? For example, say I would like to buy 100 shares of XYZ when the price reaches $10.02. The price is currently at $9.80. I am waiting for the price to break above $10, and then I want my order of $10.02 to be placed. Note that I have set this buy price of $10.02 when the price is at $9.80. Is this possible?
2. I would like to set a stop loss ideally as part of the above process. For example, I place a buy order at $10.02 as well as a stop loss at $9.85, at the same time. Is this possibly?
3. Is it possible to move a stop loss up as the price of the share goes up?
4. I would like to set an automatic trailing stop on the above order. Is this possible?
Thanks for your help.