Thinkorswim stop loss percentage reddit. -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. 72? And only then a 5% trailing stop? The closest way I can think of to do that would be to enter a condition for submitting the stop loss. Once the stop (activation) price is reached, the trailing order becomes a market order, or the trailing stop limit order becomes a limit order. A 20% stop loss and then a trailing stop of just a few percent that would only trigger when I'm already in the 20% profit range No, you would have to edit the stop loss and reduce it by the amount you are offloading. 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 If they are, is there a way to set alerts pre-market such as you would set a trailing stop loss percentage? Can I have an order set for the open of regular trading hours, that I purchased pre-market? Such as I buy XYZ at 7 AM and "Sell XYZ beginning at open at stop loss of minus $4"? I like to keep track when SPX reaches a new HOD and then I would manually calculate 1%, 2%, 3%, etc. In other words, if I purchased at 100 a year ago, it at some point was at 150, and is now at 120, and then I set a trailing stop loss at 5%, it will Stop losses must be treated like women, you have to get to know your stock, behavior and how volatile moves before setting your stop loss. firm in 2008. 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. 60 and my profit price was $18. I’ve tried this with the underlying initially but have gotten stopped out on some positions because the trigger price is too tight while other times my stop hasn’t been triggered because the option has lost value due to maybe volatility dropping versus the underlying dropping. It seems like every time I make one, it uses some arbitrary percentage or sometimes doesn't even work, and I dont want to use Bars as a way to make a stoploss. I'm not sure I understand your rule for when to trigger the stop loss. 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 Before being acquired by Charles Schwab, TD Ameritrade was an American online broker based in Omaha, Nebraska, that grew rapidly through acquisition to become the 746th-largest U. You can change the +/- to a %, then choose 10%. In today’s video we’ll learn how to place stop loss orders on options contracts. Of a zone. 05 cents. my system indicated a signal at green arrow; i intended for my stop to be at the white line - low of previous candle. 70 and the stop at 3. so e. 07 I also set a percent limit at 999% and it only went up by like a few cents percentage(I was trying to do an unlimited runner with a trailing stop loss as the "sell limit" on the eventual dip as one of the OCO brackets). S. 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%. 51. A Trailing Stop Order, when the Stop is hit, creates an immediate market order that fills at whatever price is next available. true. Problem with using a stop loss in options has to do with liquidity. setting stop loss at Here's a few clips from a 10 min abs workout you can follow along with on YouTube. . (Could folow by a dollar amount or percentage). Once you click, it opens to the Order Rules window. The problem I have is that I have not found a platform that allows a trailing stop loss to close options contracts based on the futures. Yes, you can limit or stop at either target or stop loss. Would be nice to have a hard stop for 100% of my position. Yes you can. 20 and the LIMIT order price to be $12. 3) = $7 Stop loss Or you can use Fib retracements setup with 30% retracement or whatever % you want. The price is the price of the contract and when setting a stop loss it’s at the price of the contract is well. Today SPX made a new HOD at 4607. I honestly don't know if you can do both at the same time first of all lol . You can set GTC limit close orders based on the price of the option, but having a stop loss based on underlying ignores that the option price is affected by more than just stock price and does not move linearly with it. If the price is jumping rapidly, your Stop may have adjusted to $10, but the next available price is $15, so you may be buying much higher than expected. 50 premium stop loss for put side Stop losses are to convert unlimited risk into defined risk. Say I buy a stock at $100 Immediately after purchase I set a stop loss of 10% which works fine. I never use the bid/ask. Here's an example. - Also I have a question regarding mental stop loss when it comes to swing trades. You'll learn the best stop-loss percentages to use, how they work, and practical steps to implement them in your portfolio. 24. It follows behind a stock movement by whatever you set it to. I'm using the desktop version of ThinkorSwim. 00 after a 3 day losing streak for the stock, it's on sale right? And you set your stop for $0. on the mobile app yea i think you hit the option then go to trade spread and then to advanced order,,,there you'll see the trigger order on top and you can add orders to the OCO beneath it, you have to go and change the OCO orders from "To Open" to "To Close" by pressing on them and changing the setting, and yes it's "1st triggers OCO" and yea one OCO is a limit where you set your profit 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. I had a stop limit with the lmt at 3. Called a TrailingStop. Trailing/Trailing Stop Limit An order that is entered with a stop parameter that moves in lockstep (“trails”)—either by a dollar amount or percentage—with the price of the instrument. actually, i was looking to do the following: . Thanks for that. A Trailing Stop Limit Order creates a Limit Order when the Stop I trade credit spreads quite frequently. Welcome to FXGears. My goal is to have an order that starts with both a stop loss and a take profit. 5 times premium loss for both put and call side (Basically, I'm setting two stop losses on each side) - For example, if I sold 0 dte SPX IC with 1. The trade confirmation window you have to Confirm will give you all the information you need to know, if you can't change the time of the order to after hours then it will be cancelled at the stated time. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! 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 since I bought the shares. My protective STOP was at $19. I'm looking to create a specific order template in ThinkorSwim and could use some guidance. 5 times premium so I can exit at 2. So, I'm wondering if anyone thinks it is possible to use to think script to code a trailing stop loss that will close the option automatically once it loses a certain percentage of value? 14 votes, 14 comments. When creating a long call/put, I normally BUY CUSTOM WITH A OCO BRACKET. I'm using thinkscripts to try and backtest, but I'm struggling with making a stoploss as a percentage loss. in short no. Q: How do you handle Stop-Loss orders for swing trading outside of the main trading hours and especially overnight. 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. 50 premium stop loss for call side - Open 3. Clicking the word "Mark" on the Order Editor screen used to bring up Last, Bid, Ask, and % (If I remember back to last week). And sometimes there are a lot of stop losses behind it; and the stock can Hey DT, I had the exact same issue today. 64 is $0. Learn how to set a stop loss order that works for both regular and extended trading hours on thinkorswim platform. The unofficial subreddit for thinkorswim®. I was toying around with sell if a condition was met, but have been unsuccessful. The underlying stock might have just moved by a dollar ($24->$23), which is just a 4% change. For the STP, i either unlink the STP, click on the % symbol and add the number percent that i want to use. Hello anyone knows how to put a stop order on a stock with entry price minus 0. hi u/Mobius_ts, thanks for replying. Is there a column that can be added which tells you stock price too (didn’t find one if there is)? I usually place stop loss based on percent but don’t know if it would correspond to either my support or resistance levels. thinkorswim® is owned by TD Ameritrade, which has recently been acquired by Charles Schwab. You might find it if you look through my post history. 65 it blew past it down and back up, more than the spread 3 times today and never triggered. Need a little help with creating a custom order for the first time. I understand that I can just use a manual stop to flatten my position with hotkeys but sometimes the fast price action can move far beyond my comfort zone before Im able to execute that. I would just play around with it in paper-trade mode until you are familiar with setting various sorts of stops. then you can manually move the stops, or replace any trailing stops (trailstops can't be dragged & dropped in TOS) with different values based on the price action & volatility. 50. I don't know how to approach this without babying one stock at a time. Depending on your analysis And location of the trade, your analysis is either wrong or market is stop-loss hunting, full stop on 2 lots; or your idea was correct, 1st lot gets you risk neutral and you have a free trade. 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. 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. The stop loss percentage may have to be below the bid by a certain amount. 90 then i want to be out on it. You can also do hard or trailing stops. 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. Stop loss and stop limit order at the same time I'm having difficulty finding an answer to this online for thinkorswim. Vega. You should use conditional orders. The issue is, for example, a 20% stop loss on a call option of $0. So I'm going back to just straight limit orders until somebody can figure out how to do what you asked for. For what? Additionally, say you buy a single OTM call option with a 50 strike for $1. (DRIVING ME INSANE) Setting a profit percentage & a loss percentage in one single order Ok obviously I'm dumb because for the life of me, I can't figure this out! Say I have a stock, a volatile stock, that I think can swing between +40% to -25% within a few days. The TP & SL can each be set to either an amount or percentage, and your SL can be set or trailing. Make sure to switch "DAY" to "GTC" so you don't have to re-enter again when the market closes. No, the stop loss could trigger without the option price increasing first. 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'm not even sure is STD is the cause of this. 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 have also tried to use custom order and put a percentage for both stop loss and sell prices from the buy price so this order would work with any stock price, the problem is the order doesn't pick up the quantities in the active trading menu, is there a way around it Thanks in advance The only things I can come up with when it comes to overnight period would be buying a PUT option to limit the maximum loss of the position. An order that is entered with a stop parameter that moves in lockstep (“trails”)—either by a dollar amount or percentage—with the price of the instrument. Just ball park the stop and limit percentages. I am new to reddit and tos so please be bare with me lol I have been trying to figure out how to activate a stop loss and a trailing stop at the same time. When I set a stop loss, and the stocks price drops below, the stop loss it does not get triggered. g. When I set stop losses, it makes me be at least a dime below the bid, which in some cases can be hundreds of dollars if the contract value is still ATM and relatively new (minimal theta decay) What I’m not understanding though is why the price goes past my stop loss order at times and takes about 5-10secs to get filled… but not all the time. I'm using the order tab. I did a post somewhere about how to do it. The "didn't ask for" answer is, don't use stop losses with options. Start with 10% for low beta/IV stocks and 20% for high beta/IV then you can move to 20/30% Stop loss of 30% would be $10 - ($10 * . If you are trading options, don't use stops at all. For example, my stop loss on NIO it's different than a T. Today we’ll be doing a full step by step tutorial on how to place stop loss orders within thinkorswim. I understand how trailing stop losses work (that's what I'm referring to), I'm just wondering, again, if they are activated based on the highest price since purchasing the share or the highest price since setting the trailing stop loss order. Thanks for your response. 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. Lots of times the bid ask spread is wide and if your stop gets triggered usually it will turn into a market order and you'd get filled at really bad prices taking an even bigger loss. 2022 Jul 19. - Set Stop order at 3. Shouldn't the stop loss trigger even if the stock price falls below where I place the stop loss? My order default "stop type" is set to "STD". I would look into using active trader oco templates. My example does not show stop losses, but you'll see where to enter them. When setting up the Stop-loss portion of the bracket, I'm having issues. If you're talking about options, your sell price couple be far lower than your stop. If your trying to do a bracket quickly say while day trading this is what worked best for me. You will now have a buy order, with a 10% Limit target and a 10% stop loss target. We’ll be specifically going through the steps of adding a stop to your This article reviews three key research studies showing that stop-loss rules, especially trailing ones, help limit losses and increases returns. My strategy returns: Minimum: 3x, Average: 5x Past few weeks: 10, 20x opportunities have shown up but ive been sick with the flu (damn kids) and wont trade with a fever. Hey! So for entry I set the STOP to trigger at $19. Instead of a trailing stop like a percentage or dollar amount, I would like to set a stop loss to action once the price crosses over an EMA. So a stop on an option is adding defined risk, to something that is already defined risk. 60. I’m ok with that $1 drop but I find myself having to set the stop loss at more than 30% to absorb the volatility on the option side (and still get stopped out prematurely). The best way around this for QUICK trading is to trade in multiple lots in active trader. Here's what I'm aiming for: A trailing stop is not a limit order, it's a market order. Setting stop losses on credit spreads is a losers game for 2 reasons. if i have an entry on AMC at 10. Works exactly the same on options and equities, futures, etc. 95 and if the stock falls below 10. I think you answered my question, but I'm not sure if you understood it. Once the stop hits you'll get whatever the market will give you. Must have an OCO order entered for both directions to be covered. A trailing stop loss is better than a traditional (loss from purchase price) stop-loss strategy; The best trailing stop-loss percentage to use is either 15% or 20%; If you use a pure momentum strategy a stop loss strategy can help you to completely avoid market crashes, and even earn you a small profit while the market loses 50% Have you made sure you have the correct units selected for your stop? ToS lets you set a stop based on a drop of x number of ticks, dollars, or percent. 00 premium: - Open 3. My stops are based on a breakthrough. trade setup. at the time of order placing, you could use a multiple bracket (like 1st trg +2 or 3 brackets order to define several stops or trailing stops at different levels, with each being a portion of the position. Does anyone know if/how it's possible to have a stop loss and a stop limit order at the same time. fun fact - if your stop is triggered you can get a sell fill above the stop price if the market moves higher quickly enough. Or i just click on the +/- symbol and calculate the percentage then add it. However, instead of using the option price to activate the stop. Any suggestions on what to do to achieve this? Did TOS Remove Trailing Stop Loss by Percentage This Week (on Mobile)?! This is the ONLY way I've bought and sold shares since I began using TOS five years ago. You want no stop loss unless the option rises to . This workout is great for strengthening your total core and can be done at the gym or at home. Hi all. For example, you by a stock at $10 and set a $2 trailing stop, that means if the stock went up to $20, your sell price would be set at $18 (following $2 behind). Also depends on your tolerance. oozxpoirwhpgkbnriwdyrbkddiccpjmrvainmxosqoeuzbdete