Limit Orders

Questions about MultiCharts and user contributed studies.
momentum
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Limit Orders

Postby momentum » 17 Apr 2008

I want to exit a trade on a limit order at a fixed amount of profit.

I tried: Buytocover next bar at entryprice + 4 limit

I am getting errors from TWS. What is the correct syntax pls.

Tx

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Marina Pashkova
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Postby Marina Pashkova » 17 Apr 2008

Hi momentum,

What are the error messages that TWS shows? Most probably there's something wrong with the limit price.

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Geoff
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Re: Limit Orders

Postby Geoff » 17 Apr 2008

I want to exit a trade on a limit order at a fixed amount of profit.

I tried: Buytocover next bar at entryprice + 4 limit

I am getting errors from TWS. What is the correct syntax pls.

Tx


Doesn't Buytocover indicate that it is a short position, therefore the profit target must be entryprice -4 not +4?

Disclaimer: I don't use auto trading so I'm just guessing!

SUPER
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Postby SUPER » 18 Apr 2008

for Buy or BuyToCover Limit Orders should be below current price
like wise for SellShort or Sell Limit Orders shold be above current price
only then it will be accepted by IB


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