Hi Forum, I'm looking for a broker who has a tool that can do the following, or at least has an API that would allow a custom program to do this: Example: I live on the west coast, Pacific Standard Time. It's 10 pm on Sunday. I want to submit a limit buy order for $1,000 total at $1 ea of stock XYZ. This limit order should be executed first thing at 3 am PST (6 am EST) on the early open session. Immediately upon the successful buy order, I'd like to set a trailing limit percent sell order for all of those 1,000 shares of XZY at a trailing limit percent loss of 10% from Last. Can that be done? If so, which one broker(s)? If not, does anyone offer an API that would give me access to do this with a program I code myself? Thank you.
TD Ameritrade (soon to be Schwab come next summer?) has a fairly robust conditional ordering platform along the lines of "IF (this happens), THEN (do this)". However, I've not used Ameritrade's conditional ordering feature and I'm not sure if one of the options is to set a new limit order when one has executed. I KNOW one of the options is to set two orders and then cancel one if the other is filled.
I have done this on TDAmeritrade,... although im still learning all the capabilities of the site,. I believe it works quite well.
