Thinkorswim stop loss and take profit reddit. I'm looking to create a specific order template in ThinkorSwim and could use some guidance. 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. com/member/aff/go/t 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. You can set both a stop loss and take profit with 'reduce only' selected on Kraken Futures, however this is not available yet on our spot exchange. There's drag and drop functionality for Range orders directly on the chart. No, stop losses do not work with options and should be avoided . If the stop gets hit, the "take profit" order is cancelled, and if your "take profit" order is hit first, the stop is cancelled. In thinkorswim, you can either set a stop order or an OCO bracket order. There is one for pre market and one for after hours. I set up my initial OCO to sell 100% of my position at my stop, and sell 30% of my position at my Take Profit level 1. The colors of the lines are customizable: tp1 is light green, tp2 is green, and tp3 is dark green. 3) = $13 Take profit Since $10 * . I use trail stop for my positions. 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. If you want to get all fancy, you can do a "TRG w/bracket" that will simultaneously let you put in a buy (or short-sell) order, take-profit point, and stop loss point all at once. Now, I can't create another limit sell order for my Take Profit level 2 because my first order has the shares already in the first order. 05 cents. 50 to take the profit. whne i open second individual Sell To avoid this situation, it is recommended to set stop limit order to take profit or stop loss. Obviously this isn’t the automated approach you were asking for. 90 for a stoploss, and a Stop buy or limit order (either will do) at $1. 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've figured out that in order to do that, I need to cancel both my limit stop loss and my take-profit sell order, then right-click on "create closing order" in the Active Trader ladder below where the price is currently at, then manually change the sell to a trailing stop at -1%, then click confirm, then send. 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. Trying to figure out how to create option sell order take profit 20% using thinkorswim order entry tools. This setting was present around 2021, but suddenly moved I guess I need to raise a ticket for it. -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. Jun 28, 2023 路 It is colored in red. As two separate orders and not have one cancels other on options, there is the possibility both execute before you manually cancel the other if the price moves in such a way to trigger both. Is there a way to have bracket entries and still be able to add or sell so that the stop loss and profit targets dynamically adjust based on shares added or sold? In this video he was able to move the stop loss and target freely (in the active trader ladder AND on the chart) BUT when I go to do this, after entering the trade, I use the same technique but I am unable to move my stop loss and target around, they are locked in place. I trade credit spreads quite frequently. I only day trade one at a time with a small position. 382 * (getPrevDayClose () - getPrevDayOpen ()) The take profit is set to the previous close plus 2 times the difference between the previous close and stop loss: Aug 4, 2021 路 A brief video on some helpful features using Active Trader on Ameritrade's Think or Swim platform. So a stop loss might not be needed on $1 wide wings where R/R is generally 1:1, but on $20 wide wings your risk without a stop loss could be 10:1. 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. Today we’ll be diving into the basics of how to create bracket orders, or take profit / stop loss orders within the ThinkorSwim mobile app. I have several bracket templates that include stop/limit orders. It puts a bracket in with your exact profit target (limit) and stop loss (or trailing stop) set the instant your order fills. Usually, I put in a buy order; then, when that's filled, I close via Stop Loss/ Take Profit. you can also do the above doing right click on your option, then Buy custom from the options chain If you use 3 stops/profit you will see lines for each. Here's the code, and a couple of use-cases. However, instead of using the option price to activate the stop. 1st exit: +15% sell limit, -10% stop 2nd exit: +20% sell limit, -10% stop. To figure take profit at 30% of price do Price + (Price * . I do it mainly through the app. 95 and if the stock falls below 10. The company's mission is to maximize the value and utility of digital assets through our comprehensive product suite including advanced trading solutions, liquidity aggregation, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, as well as the Nexo Platform and Nexo Wallet with their top-tier Using indicator as take profit Is there any way to set up an OCO with a set stop price that doesn’t change and using the average line of my Keltner Channels? It’s a pain to have to update my take profit everyday (trading on the daily chart) since the KC average line changes each day. 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. I purchase the underlying at market price with enough shares that amounts to about $5k. With a stop limit order, you risk missing the market altogether. So, let's say I create a bracketed order with a buy that triggers a OCO sell limit & stop loss. 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? Aug 28, 2023 路 Now specifically we're going to look at three examples. Some stocks (a lot of them) are in strong uptrend. Sep 3, 2020 路 The original purpose of this indicator is to help traders take profit while going long. Just uncheck all but one stop, set the shares on each line accordingly…once setup you can click the little disc to save it as a custom order and name it. An OCO (one-cancels-other) bracket order will set a stop loss order below and a take profit order above your position. Here's what I'm aiming for: Taking partial profit on an order is a pain, especially when using a stop loss. I have checked all available options and nowhere is an option to put a cash value for TP. . Nexo is the world’s leading regulated digital assets institution. Let's jump in and take a look. Needless to say the price can I place a Stop buy order at $1. For example maybe you want one stop but 3 different profit takers. (Note. I primary use the active trader ladder / hot keys to enter and exit positions. 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 We would like to show you a description here but the site won’t allow us. And when i change it from Buy to sell it wont get filled until its filled 50x650 sell. then click on ladder to buy as limit or use buy market or buy ask/buy bid buttons (you have to add these buttons using the cog wheel icon to customize active trader). $10 + ($10 * . The problem I'm encountering is that I can only place a LIMIT order if I am buying with OCO brackets. My friend explained that the stop loss activates not based on being 7% below the highest price since I set the stop loss but is instead based on the highest price Set a GTC limit order to take profits and use a stop limit order limit your losses. This is done by right-clicking the chart. 3) = $7 Stop loss Or you can use Fib retracements setup with 30% retracement or whatever % you want. 5:30) will we bull sell those stocks? Share Add a Comment As u/OptionsMillionaire has suggested many times, you should absolutely be placing stop orders when you enter a trade. Looking at the settings in Webull for "Default Stock Orders," it has a percentage for Stop-Loss Order and Take-Profit Order. 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. 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’ll open another position if my trail stop is in profit range. In a fast-moving market, it might be impossible to execute an order at the stop-limit price or better, so you might not have the protection you sought. I want to create a stop loss but also a take profit limit order for my existing option position, and to do this it is usually just an OCO bracket order, but when I right-click the usual "with OCO bracket" option isn't listed like how it is for a regular stock. 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. 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. This works great on single buy/sell positions. 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 spoke with tech support. 89, your $37 stop is a good place for breathing room, but after that first spike to $45 and consolidation around $42, I would move my stop up to just above the original entry There is no “take profit” option with TDA, but there are a few ways to do this. thinkorswim® is owned by TD Ameritrade, which has recently been acquired by Charles Schwab. Today we’ll be doing a full step by step tutorial on how to place stop loss orders within thinkorswim. However, the good news is we are currently testing it and hope to deploy it in the near future. Personally, i NEVER have a trade on without an instant stop in place. Once the position is open and the brackets are set, thinkorswim doesn't allow me to add to my position (long or short) while still maintaining my stop loss and profit taking target. 5 times premium so I can exit at 2. i dont have this issue when i make new Buy order with bracket. We actually have to open 3 orders with the following values 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. For example, if you have 1 XBT, you can either decide to place 1 XBT stop loss or 1 XBT take profit, or 0. In the Active Trader pane, you can click on the Template button to choose various types of branching/OCO orders. 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. ) your profit target is double (or more) your maximum risk/loss. If I set a stop loss/trailing stop loss/ take profit, etc and the stock reaches either that dollar amount or percentage at during extended hours (e. This community was founded to teach others about realistic and responsible options trading. But if one of my limit orders hit, I want my stop loss to still work until my second take profit hits. 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 would love to see others add/expand/improve this for automation as well as to use in range-bar setup. Based on option prices moving quickly many trades will close out for a loss when left alone it would have been profitable. But if stock is HTB, you have to cancel “stop” first and only after do your partial. The order type you’re looking for is a “one-cancels-the-other” with both a ‘stop loss’ and ‘take profit’. 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’ve been loo How? You make the profit target at least double your max loss (so if stop loss is at -30 dollars, your target would be +60 dollars. Is there an option to auto adjust the take profit limit order as stock price goes high? Thank you for the reply. Stop Limit: Seeks execution at a specific limit price or better once the activation price is reached. Before I click buy though, they're only visible on the active trader window. I don’t really know how or place stops through desktop. 45 at the original net revenue for the put sale. Fills were fine, I scalped successfully with it, but I still haven’t compared it to anything else. How to open a position and attach a sell stop order, how to attach a sell stop order to an existing position, and, finally, how to adjust your price once you have a sell stop order in place. That kills the take profit order, stop loss, and closes the position Since ToS is so fancy, I was wondering if it was possible to set up two different Close orders on a position, specifically a stoploss and a take profit point. Click on your position - Close position - Change order type to stop or stop limit - Set price - Send. 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). 3 is $3 and $10 + $3 is $13 Stop loss of 30% would be $10 - ($10 * . 3) Example: $10 price with 30% take profit. But when i have eg Sell 50xTSLA at 650 and attach bracket Stop market at 640,it get as BUY 50x640 to existing sell order. Apple and similar beta stocks will allow to place tighter stops and still make money. To directly answer your question: 50% loss is the standard stop loss for options swing trading. 3) Applicable scenarios As mentioned above, mark price and last price both have pros & cons when executing to trigger the SL & TP orders, therefore we have summarized three situations for each futures trader to best fit with your trading behavior In Webull you're able to set a stop loss and a take profit sell order at the same time. You can do this in DAS. 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. I usually watch specific option chains (ie . The TP & SL can each be set to either an amount or percentage, and your SL can be set or trailing. 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. From what I'm reading the various wing widths can drastically change your risk/reward. 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. 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. The process of displaying I’m trying to trade using a single stop loss and three take profit orders set at 1R, 2. You can also set the stop loss to only monitor pullback after the price has risen to a given point. For example, in my TOS paper account, I am utilizing $5k. 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. Setting an OCO Bracket/Stop Order. I’m generally scalping, so taking a manual profit point via the flatten button works for me. Bought stock at $10, setting limit order - selling if stocks goes up 25% (take profit), and setting trailing stop loss - selling if stock goes -10% (cut loss) Trailing stop loss has the ability to auto adjust as stock price increase. if i have an entry on AMC at 10. 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. 5 XBT TP. When either one is triggered it cancels the other one. Even a defined 10:1 can be costly. You can even do fancy things like scaling out of a trade using "TRG w/2 brackets" to sell half your stock at one point and the other half at a different point, and each half can have its own stop loss/trailing stop. I need that to be a STOP. ToS needs to add these features: One Hotkey (Shift+B) bracket order to BUY 1000 shares at BID/STOP LOSS -1% below cost basis/TAKE PROFIT 2% above cost basis. On desktop. Or to go even further, for those who use trailing SL, the SL could trail on a moving average, all in the trade box. (This aspect probably sucks the most). Yes I see the net premium received for the spread sale under "trade price", in this case 12. Our team is aware of the demand and is considering it for next updates. Go to thinkorswim View community ranking In the Top 5% of largest communities on Reddit. Vega. stop loss at $9. This has happened to me a few times now where I get into a trade around 7:30-8:30 pm and then when my trade will hit either take profit or stop loss it will show what my balance at that moment and after 12am it would disappear and I would have no idea what my UPL is. Yes you can. 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. My goal is to have an order that starts with both a stop loss and a take profit. 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. Unfortunately, it is not currently available on our platform. I think it’s sell custom with stop. 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. Setting stop losses on credit spreads is a losers game for 2 reasons. You can then uncheck which ones you don’t want to use. 5 times premium loss for both put and call side (Basically, I'm setting two stop losses on each side) 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. We could manually add the places in time where we move our SL and TP. Once the stock hits $1. Trailing/Trailing Stop Limit I set a trailing stop loss at, let's say 7%, and suddenly it activates before the stock price actually drops to 7% below the price that it was at when I set the trailing stop loss. I really like that these stop/limit orders appear on the chart and are easy to drag and drop to another price level. so e. How flexible is the stop-loss/take-profit once you enter a trade? 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 currently have the -15% trailing stop set up for my auto call or put sell orders. I can’t find a way to do nested OCO orders… you could enter with an OCO at the top&bottom of your range (2x limit orders), and then when one triggers put another OCO in to exit (limit & stop). SPXW221208C3970) and would like to have an indicator that does the following: Input – 4. On-screen animation: The thinkorswim ® platform appears on screen. We’ll be us 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. When linking your broker to DAS, it's best to keep the orders/execution completely separate. 10 or above then the OCO brackets generate a Stop sell at $0. 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. 馃挰 My favorite trading community:The Shadows: https://stepintotheshadows. I do this rather than take profit out as I find it lets winners run longer and creates a lot of no risk trades for me… when you got in at $40. 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. 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. The most you’ll lose is $30. Hello anyone knows how to put a stop order on a stock with entry price minus 0. You can also set orders for multiple stops / sells. 90 then i want to be out on it. 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. :/ good luck! 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 The unofficial subreddit for thinkorswim®. I have a question about something that happened on my paper account today when I was setting a take profit rule. I'm using Thinkorswim as a platform and for my stop losses, I set up it as below: - Set Stop order at 3. 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. Working on creating many more variations of these bad boys as we speak This is IBKR in case you're wondering When creating a Stop Loss or Take Profit order, please note that your funds will be held until the order executes or you cancel your order. OCO brackets on ThinkorSwim allow you to set a stop loss and take profit in a single order. Trying to figure out how to add 20% take profit as well to OCO advanced order template. We’ll be specifically going through the steps of addin On the mobile app it works. My question is not realated to OCA. 10. In order to use both of these features at the same time you need to ensure you have the necessary funds available for the both order types. 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. Get the Reddit app Scan this QR code to download the app now with 10% Take Profit and 10% Stop Loss. If you are daytrading and have a tight stop loss on a high beta stock you will lose your lunch money daily. g. 382 times the previous day’s real body: stopLoss = getPrevDayClose () - 1. the stop order can also fill dramatically lower than the stop price for this same reason, and in the case of an AM gap down it could be a double whammy of the gap, plus the time it takes to fill with all the market orders I fixed the lines going to 0, please see below: # Plots where your average entry price is, yesterday's close, take profit/stop loss lines, and the position's risk (entry price * position quantity) 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? but want to adjust my stop loss and take profit lines in thinkorswim. #Alerting: #The script includes alerts for specific conditions: #Stop Loss Triggered: Alerts when the current close price Jul 13, 2024 路 After entering the position, the stop loss is set to the previous close minus 1. ) You can buy in with limit orders or stop limit orders like normal by clicking on the left or right side of the price. Yea you’re right, I’m thinking of using it more as just a backup for really quick moves but in general manually exiting trades. Hi,i can not find way how to set profit taker and stop loss to existing opened position. But it would be very helpful to have a drag and drop functionality to submit the orders by setting the STOP and TAKE profit lines visually. Searching Youtube and Reddit doesn't answer my question about putting a simple take profit for a single order. I'm curious to learn how you guys are using this feature. 80, take Does TD Ameritrade use payment for order flow for futures? If so, why is there a commission? If I am using an OCO bracket order with a stop-limit order, is the initiating order sitting on the market makers order book, while the contingent orders (stop-loss and take profit) waiting on TD's server and then sent over to the market maker once the initiating order is filled? Unless it’s a long term trade you should adjust throughout the trade IMO. #Take Profit Levels: Plots lines representing the take profit levels based on the Fibonacci levels. If it falls only 1%, nothing happens. 75R, and 4R. Once I click buy, the sell limit & stop loss are visible on both the chart and active trader windows. com/ 馃挵Get Funded:Apex Trader Funding: https://apextraderfunding. I switched to DAS, but I’ve been busy trading futures on another platform so I haven’t used it yet. Posted by u/No_Dinner2506 - No votes and 6 comments So, correct me if I'm wrong. 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. Like if you bought 100 shares, you could have a stop loss, or a sell order to sell 50 @ 3% and 50 @ 5% Apr 11, 2016 路 Thinkorswim (TOS) Tutorial: How to add a Stop Loss in Thinkorswim馃憡Do you want to achieve #financialfreedom? Reserve your seat in the upcoming #webinar 馃憠 ht Does paper trade have no stop loss, take profit feature? Is there a quick way to place closing OCO orders on positions? If I have a position of 2 aapl stock and want to place take profit at 2% and stop loss at 1%, is there a quick way (default button or hotkey) to do this? fun fact - if your stop is triggered you can get a sell fill above the stop price if the market moves higher quickly enough. 5 XBT SL and 0. I didn't full understood what you mean by using the drawing tool. 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. I'm doing 0 DTE SPX Iron Condor and trying to set up stop losses. I'm used to having a dollar amount set for this rather than a percentage. If you use this indicator as a tool to go short in such a scenario, don't put too much weight on it and be sure to have a stop loss in place. Jul 3, 2019 路 Hello, I've put together a simple profit/loss zone indicator/study that will help with visualizing profit/loss zones. I know in most systems this would cause a conflict, but I've seen the power of ToS and figured if anything could this could. . So what you're saying is that most people are doing a 50% stop loss or not using one. Is there a way to make them also visible on the charts? Thanks and valid point about the stop loss. You can enter a OCO order where one is a take profit “sell limit” at your take profit number, and the other is a stop limit at your lower stop-loss. You can find out more information in our help article: Yep. I go over two different order types, OCO and Bracket order Nov 1, 2021 路 In today’s video we’ll learn how to place stop loss orders on options contracts. The strategy I’ve been working on is cutting my losses right away the moment my breakout prediction was wrong so usually my losses are so small that I can afford to take the market price just to get out of the trade, and also trading highly liquid/higher volume. That way you only need to win 40% of trades to be profitable. 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. It may remain that way for a while. jpsis veunaho wxbl enb dsxx qvojuf vtdvng nhgysc ipytge djfag