Hey, I am new to the forums. Been trading successfully and unsuccessfully for a couple years now. As everyone, trying to expand my trading knowledge. Hopefully you can help!
My question is regarding setting a stop loss and a limit order at the same time. Is it possible? Maybe that's not the best way to phrase it. What I am looking to do it is this... Say I have 150 shares of XXX at $30. I want to set a stop loss at $28, but I also want to set a limit/stop at say $33 to take profit. Basically so I could be happy with those exits and not have to watch it. So far with a couple different trading platforms, it will give warnings that there are two orders of the same size at the same time, so it will consider the second order a sell short position. Is this right? Am I going about this the wrong way?
Thanks!
My question is regarding setting a stop loss and a limit order at the same time. Is it possible? Maybe that's not the best way to phrase it. What I am looking to do it is this... Say I have 150 shares of XXX at $30. I want to set a stop loss at $28, but I also want to set a limit/stop at say $33 to take profit. Basically so I could be happy with those exits and not have to watch it. So far with a couple different trading platforms, it will give warnings that there are two orders of the same size at the same time, so it will consider the second order a sell short position. Is this right? Am I going about this the wrong way?
Thanks!
