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Date/Time: Tue, 14 May 2024 06:49:36 +0000

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Post From: Need Help-Exit Position With Limit Order and Cancel All Other Orders If Filled(In 1 Step)?

[2021-08-21 22:00:11] Link To Thread - Link To Post [Go To First Post]
absorrel4 - Posts: 92
I am using SC Trade Window when I enter the market which also has a target/stop order enabled within the "Targets" section for the Trade Window. Once filled I automatically get a Target Order and a Stop Order established and they are OCO orders. Works fine. However, if I want to exit the position before the target or stop is hit, I have been using the Flatten/Cancel All order (I have this order as a button on my Control Bar). This also works fine....but I get too much slippage via the exiting Market Order. What I want to do is have an order created that acts similar to the Flatten/Cancel all....but uses a Limit Order to exit instead of the Market Order that is associated with the Flatten/Cancel All order. For example, if I am in a Long position at a price of 10 with a target price of 15 and a stop price of 5...and the price is only at 12 and I want to exit the position and cancel the outstanding target/stop orders in ONE CLICK OF THE MOUSE (one action), I must currently use the Flatten/Cancel All order which is a market order. But, if I want to exit with a Limit Order (at a price of 12 in my example) and still have the outstanding target/stop orders automatically cancelled if I am filled with my Limit Order, how do I do that in ONE ACTION? I have tried to simply enter a Sell Limit Order via the chart (or DOM) to exit the position (which does get me flat if/when filled), but that does not cancel the outstanding target/stop orders....and I get a new set of target/stop orders for the filled short position (which does not exist since I am now flat and I no longer have any open position at all). I suppose I can use a different chart in the chartbook where the Trade Window for that chart does not have a target/stop level input so I don't get any new target/stop positions....but, I would then need a second action to Cancel All to cancel the existing target/stop orders if/when the Limit Order is filled. Is there a way for me to accomplish what I want with One Action?