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Union Of Fundamentalist Stock Pickers Forum > Rookie Question:

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Bo5anac3

Member since: Dec 08
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Posted December 18, 2008 (08:56AM)

 

Lets say I buy stock ABC at $5.00. I want to maximize my profits just like everyone else but I am willing to sell it at 6.00 for about a 20% profit but if possible wish to sell it even for a larger profit with minimum risk.

Now for my question:

Can I set up a sell order that will trigger at $6.00 to trail to stock at 10%. So that if ABC goes to 6.00 it will trail it and then if it drops 10% it will sell?
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apalmer

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Posted December 31, 2008 (07:34PM)
Currently this cannot be done with Tradeking, if it were ever implemented it would be called a contingent trailing stop.
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Blue Busa

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Posted September 28, 2009 (07:33PM)
This is my first ever posting on TK, so be kind, please.  I have the exact same question, and am wondering WHY a contingent trailing stop is not possible on TK.  Has it become possible since this question was posted by Bo?  What is the closest advanced order or regular order to the contingent trailing stop that can accomplish the same thing....and how exactly do you submit one for execution?
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StefanMcVeigh

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Posted September 28, 2009 (08:03PM)
Blue Busa,

Currently we allow trailing stop orders on securities that are trading above $5.00 per share. It is still not possible to place a contingent trailing stop. A contingent order in itself is considered an advanced order. The trailing stop would be considered an advanced order as well. Unfortunately we do not currently offer the ability to place two advanced within the same order. This is something that is on our product list but there is no ETA for a release.

It would be possible to place a "one cancels other order". This would allow you to place a sell limit to lock in a profit if the stock increases. The order would also allow you to place a stop below the current market price to protect from a loss. While logged into your account you can go to Trading > Stocks + ETFs. Under the price and symbol column there will be an advanced order drop down menu. That section will allow you to select the "one cancels other" order.

Best regards,

Stefan McVeigh
TradeKing Customer Support