Thinkorswim stop loss and take profit reddit

Thinkorswim stop loss and take profit reddit. With Binance there’s the option to nest orders, therefore I can put a stop-loss AND a take-profit orders on the same coin. Please ensure you have sufficient balance in your account to place multiple So, correct me if I'm wrong. If volatility expands you could get triggered even though the underlying market price doesn’t move and is still a ways away from your strike before theta has a chance to do its thing I place a Stop buy order at $1. FWIW, I had the same issue until I realized that if you put the trailing stop at your stop loss location, the trailing stop would adjust automatically when the stock became profitable and I didn't need to worry about responding to alerts or continuously watching it. Its important to keep this in mind when using stops or take profits, especially if you're using margin and especially if you're short. When either one is triggered it cancels the other one. No, you would have to edit the stop loss and reduce it by the amount you are offloading. If I have bought into a position using a bracket order that includes both a profit limit and a stop loss and the trade is going in my favor and I would then like to change the stop loss to a trailing stop and get rid of the profit limit, what is the quickest way to do this (I'm using Active Trader). I realize I use stocks as the example but, stop loss and take profit orders work the same regardless of the financial instrument you're trading. I purchase the underlying at market price with enough shares that amounts to about $5k. Set a limit order for 20 points with a conditional order on the option itself if the bid is 19. 50 its going to send the limit at 20. 5 times premium loss for both put and call side (Basically, I'm setting two stop losses on each side) I usually watch specific option chains (ie . My goal is to have an order that starts with both a stop loss and a take profit. The best way around this for QUICK trading is to trade in multiple lots in active trader. so e. but sure, have a take profit as a GTC limit order, no problem. 3 is $3 and $10 + $3 is $13 Stop loss of 30% would be $10 - ($10 * . There is one for pre market and one for after hours. ) I'm doing 0 DTE SPX Iron Condor and trying to set up stop losses. You might take some slippage if it is moving fast during the cancel/replace sequence, but it's probably faster than clicking cancel and then clicking flatten. I trade using ATR, so I either use 1:1 ATR for my range, or . So if you set this up, then click market buy for instance, it will buy market then place your stop/profit orders based off the fill price. I need that to be a STOP. $10 + ($10 * . prints settle. I have several bracket templates that include stop/limit orders. This community was founded to teach others about realistic and responsible options trading. I trade credit spreads quite frequently. Setting an OCO Bracket/Stop Order. To directly answer your question: 50% loss is the standard stop loss for options swing trading. It takes profit when the price rises to the preset take profit level and stops loss when it falls to the preset stop loss level. Yes I see the net premium received for the spread sale under "trade price", in this case 12. 5:1 ATR range for tighter moves. So, let's say I create a bracketed order with a buy that triggers a OCO sell limit & stop loss. Before I click buy though, they're only visible on the active trader window. Is there a way to make them also visible on the charts? That trailing stop sell order once opened, will set your stop 20% from the market price, but if the underlying stock (or contract if with options) rises in value, then the trailing stop will adjust, moving up concurrently and your new stop will automatically be set 20% from the new highest market price reached on upside. What times are you taking the trades. We’ll be specifically going through the steps of addin On the mobile app it works. Is there a way to set 2 take profit limit orders while having a stop loss in a oco bracket? I would like to have to take profit limit orders set, and if my stop loss hits Id like for it to cancel the other orders. Nov 7, 2023 · Both Stop Loss and Take Profit orders are basically you as a trader telling your broker when to close your trades. Fills were fine, I scalped successfully with it, but I still haven’t compared it to anything else. But if stock is HTB, you have to cancel “stop” first and only after do your partial. How big is your stop. 75R, and 4R. Once I click buy, the sell limit & stop loss are visible on both the chart and active trader windows. Vega. I basically just want to execute an options CALL that buys at market, then sets 1st take profit at 15%, 2nd take profit at 20%, and a sell limit stop loss at -10%. The Quick on chart buy and sell buttons are a great feature but expose you to unlimited risk unless they also come with automatic stop loss and take profit orders these should be adjustable to a desired default amount of pips just as the position sizing is adjustable to a desired size. Adding to this, if you click the link icon on your stop loss or take profit orders, you can change it to execute your sell order at a specific percentage, increment etc instead of having to toggle the limit price up or down. Last night I was holding a few contacts in the futures market and had set up a stop loss and take profit sell after getting in. I’d also be interested in knowing if there’s a way for me to see the day high/low price of an option contract. Jul 13, 2024 · #1. So what you're saying is that most people are doing a 50% stop loss or not using one. Enter order with only a stop loss but want to add a profit/target stop too after the trade is already executed I thought you click on the active trader ladder and click on the price you want to exit but the system treats it like a new order and depending on its size will get a rejection bc of buying power etc You can’t do a stop loss but you can do a pseudo stop: Lets say you sold an option for 10 points and want a stop at 20. A take profit is pretty much the exact opposite. I set my profit target to be about $20-$50 but when I try to set the stop loss, it just disappears when I click the price I would like my stop to be at. How would I do that? In today’s video we’ll learn how to place stop loss orders on options contracts. If you use 3 stops/profit you will see lines for each. I use it mainly so I can just let runners keep going especially if my trail stop returns profit otherwise I take profits myself where I am comfortable. I think they mean to say after placing a buy, they want to right click on the chart at a price level to place a stop limit quickly. At this point I can move around my stop loss and take profit in the options chart, but I can't move the stop loss or take profit anywhere near my entry. Get the Reddit app Scan this QR code to download the app now with 10% Take Profit and 10% Stop Loss. I’ll open another position if my trail stop is in profit range. 50 or higher. Looking at the settings in Webull for "Default Stock Orders," it has a percentage for Stop-Loss Order and Take-Profit Order. Here's what I'm aiming for: As u/OptionsMillionaire has suggested many times, you should absolutely be placing stop orders when you enter a trade. I don’t really know how or place stops through desktop. 90 for a stoploss, and a Stop buy or limit order (either will do) at $1. I'm curious to learn how you guys are using this feature. Once the bid on the option hits 19. For example maybe you want one stop but 3 different profit takers. An OCO (one-cancels-other) bracket order will set a stop loss order below and a take profit order above your position. 05 cents. I think your suggestion might be part of that but there's an issue where if you have auto send on, I think it just defaults to selling at market price and if you uncheck it, you have to fill out a whole order manually which defeats the purpose. I’m trying to trade using a single stop loss and three take profit orders set at 1R, 2. I really like that these stop/limit orders appear on the chart and are easy to drag and drop to another price level. Author states: The main idea of the strategy is to determine the direction of long and short based on the price trend. However, I want the stop loss to convert into a trailing stop, but only after the price has moved by a certain percentage from the entry point. I have a question about something that happened on my paper account today when I was setting a take profit rule. This is done by right-clicking the chart. There is a workaround to have both settings enabled adult time so you wouldn’t have to select this, but pre/after has sketchy fills and you never know what bot-driven shipway might rip your face off. You can adjust the sell limit & stop loss types & amounts; for example if you change them from amounts to percents then you end up with a branched order with take-profit points at +1% for half your order and +2% for the other half, with a stop loss of -2% for both. When you say hits your stop loss, do you mean 80% of the time it touches your stop loss by the pip and then hits take profit? This community was founded to teach others about realistic and responsible options trading. What they do: OCO brackets on ThinkorSwim allow you to set a stop loss and take profit in a single order. Apple and similar beta stocks will allow to place tighter stops and still make money. SPXW221208C3970) and would like to have an indicator that does the following: Input – 4. Trying to figure out how to create option sell order take profit 20% using thinkorswim order entry tools. I added Fibonacci levels for the take profit guidance and the close of a candle for the stop loss. 90 then i want to be out on it. But if one of my limit orders hit, I want my stop loss to still work until my second take profit hits. 10 or above then the OCO brackets generate a Stop sell at $0. Once the stock hits $1. However, instead of using the option price to activate the stop. I'm using Thinkorswim as a platform and for my stop losses, I set up it as below: - Set Stop order at 3. Usually, I put in a buy order; then, when that's filled, I close via Stop Loss/ Take Profit. I’ve been using bracket orders to do this, but can’t seem to find a way to have a single stop loss attached to all three orders instead three stop losses. Or to go even further, for those who use trailing SL, the SL could trail on a moving average, all in the trade box. On desktop. OCO brackets allow an investor to set a specific price at which they want to enter a trade (limit price) and a specific price at which they want to exit the trade (stop price) and also set a profit target for the trade. This works great on single buy/sell positions. -10%), then change the order to GTC so it doesn't expire that day, then scroll right to the little gear icon and click it. . I use trail stop for my positions. Setting stop-loss based on price (options) for eg, im in a long options position and i wanna set a stop loss to close my position when the market price of the stock hits a certain price, is it possible? and what type of stop loss order should i place? I think they mean to say after placing a buy, they want to right click on the chart at a price level to place a stop limit quickly. Sounds like you need a OCO order when your trying to do a sell limit and loss limit. Also includes visual and audio alerts and all are customizable with the menu to fit your needs. if i have an entry on AMC at 10. otherwise you run the risk of shorting the stock if you hit your stop loss, then it runs up to your sell limit. 00 (this will vary by Option Chain and I can input for the specific option chain) Draws the following six lines in light gray from 8:30 AM to 4:30 PM · Take Profit One Horizontal Line – 25% (Light Gray Color Could someone help figure out how to enter an options trade with a take profit/stop loss all in one order? Any other tips/tricks to use while trading on an iPad Pro would be greatly appreciated. When you set it up you simply enter an order target where you want to enter through market, limit, or stop orders and the instant your order executes it triggers the bracket with a stop/trailstop and limit profit target. If it falls only 1%, nothing happens. I switched to DAS, but I’ve been busy trading futures on another platform so I haven’t used it yet. The stop loss triggered closing out the position then this morning the other order was still open and it filled causing even more loss. If you are daytrading and have a tight stop loss on a high beta stock you will lose your lunch money daily. It has morphed into a safe haven for those that desire to learn investing free of nonsense, yolos, lottos, drama and all/any other irresponsible behavior that is inherent in most online communities. Jul 3, 2019 · The way it works is you enter a profit/loss range in $ amount. Automatically sets up a OCO/take profit bracket that I can adjust The stop loss sells off the full position The take-profit sells half the position if hit and moves the stop loss on the rest of the position to my original entry price Is it possible to script complicated custom order types like this? The idea would be that we can see the evolution of the value of the stop loss and the take profit, in the trade box, over time during the trade. Trailing take profit (or trailing stop loss), activated only when SQ goes up 3%, with a trailing offset of -1% Stop loss at -3% of market price at buy Basically what this would do, is if after I buy, the stock price can fall up to 3% before my stop loss is activated and sells. I primary use the active trader ladder / hot keys to enter and exit positions. However, if you want to place another limit order to take profits if the price goes up, you would need to have additional funds in your account that are not tied up in the stop-loss order. Click on your position - Close position - Change order type to stop or stop limit - Set price - Send. The zones can switch between buy and sell. Hello anyone knows how to put a stop order on a stock with entry price minus 0. Flatten is just a market order to close a position, so if your stop loss is setup as a stop-market order, dragging it close to or above the trading price should achieve the same result. What r:r are you using. (Note. Today we’ll be doing a full step by step tutorial on how to place stop loss orders within thinkorswim. I’m a scalper that likes to get in and out of trades very quickly while having a stop loss in place, and I’m with Webull, which means that you first have to cancel your current bracket order to immediately sell which for me takes too long, I would rather place a bracket order and once I see that I'm in the green then immediately sell. We actually have to open 3 orders with the following values In Webull you're able to set a stop loss and a take profit sell order at the same time. 3) = $7 Stop loss Or you can use Fib retracements setup with 30% retracement or whatever % you want. 3) = $13 Take profit Since $10 * . To figure take profit at 30% of price do Price + (Price * . 45 at the original net revenue for the put sale. The problem I'm encountering is that I can only place a LIMIT order if I am buying with OCO brackets. 3) Example: $10 price with 30% take profit. If you don't want to cancel your stop loss first then the only other way is to create a One Closes Other order as a take profit WITH (at the same time) as your stop loss. I'm used to having a dollar amount set for this rather than a percentage. Trying to figure out how to add 20% take profit as well to OCO advanced order template. 50 to take the profit. This subreddit is a place where high income professionals of all types can ask, answer, discuss, and debate the personal finance and investing questions specific to our unique situations without being criticized, ostracized, or downvoted simply for having a high income and "first world" problems. It tells your broker how much you are willing to make as a profit with one trade and close it once you@re happy with the amount So just to clarify, your position is open in this scenario and you are trying to move the remaining profit-taking limit order and stop loss legs in tandem, or individually, but both in AT and on chart you are unable to "grab them" by the bracket for that purpose along the side of either gadget? I’m generally scalping, so taking a manual profit point via the flatten button works for me. I only day trade one at a time with a small position. How flexible is the stop-loss/take-profit once you enter a trade? This is to ensure that the funds are available if the stop-loss order triggers. Yes you can. I’ve changed to setting stop loss with one triggers sequence (and the one stop loss order is the sequence) and then using flatten at my manual exit point. You can then uncheck which ones you don’t want to use. 10. 5 times premium so I can exit at 2. 95 and if the stock falls below 10. g. To keep it simple, I want to make a stop-loss order on 100% coins if it goes down and at the same time to make a take-profit order on 100% of the same coin if it goes up to a specific price. I do it mainly through the app. YT custom sell orders, theres a couple good videos explaining them with examples. For example, in my TOS paper account, I am utilizing $5k. (This aspect probably sucks the most). so I can just multiply by 100 in my head, so $1245, and then compare it to the net p/l of the "P/L Open" of $1057 at this moment. Are you having a consistent approach to the markets every day eg trading the same pair same session etc. I think it’s sell custom with stop. In thinkorswim, first set up your trail stop order, change the TR price to + -, step, or percentage (if percentage, make sure it's negative eg. Jun 28, 2023 · Here is a stop-loss and take-profit tool. I'm looking to create a specific order template in ThinkorSwim and could use some guidance. We could manually add the places in time where we move our SL and TP. In an uptrend, it goes long when there is a bullish candlestick pattern. Taking partial profit on an order is a pain, especially when using a stop loss. Is there any way to place order with stop and then take partial profit without cancelling “stop order”? Seems like if stock is ETB, TOS allowed you to take partials while keeping stops (but have to adjust number shares later in stop order). A stop-loss is designed to let your broker know how much you are willing to risk with your trade. I currently have the -15% trailing stop set up for my auto call or put sell orders. Put on your stop loss and pick a divisor (10 when buying in 100's for instance). This Would not recommend any hard stop loss on options, cause you could be taken out on a misprint and or a wide bid / ask spreads, these happen mostly just as the trading day starts and stops, until. Setting stop-loss based on price (options) for eg, im in a long options position and i wanna set a stop loss to close my position when the market price of the stock hits a certain price, is it possible? and what type of stop loss order should i place? Specifying Midpoint for Take Profit & Stop Loss Order Rules Newish to the options world and have been integrating myself into some of the more advanced features of TOS as I progress. In thinkorswim, you can either set a stop order or an OCO bracket order. Setting stop losses on credit spreads is a losers game for 2 reasons. By leaving the stop loss in place, this would be the same as creating a new order to sell to open when you don't have anything to sell. I spoke with tech support. yiox pkdmaa vduzvs bvqlv ixjij jnnbfm now kmn ykd gzk