Hello all, I have a question regarding order placement, and the answer may differ from trading platform to trading platform (or the answer may just flat out be no). Let's assume I have interest in a stock and currently own no shares in it. Is it possible to set a buy order and a sell order for the same stock? Or do I have to currently own shares to place a sell order? For example: Set a buy order for 10 shares of AAPL at $120 and a sell order for $120.04 that will only execute after the buy order has executed. Thanks and forgive my basic knowledge, as I've very new to this stuff.
I think this varies from broker to broker. TD Ameritrade has a type of order called "conditional orders" which allows the account owner to set a trade to occur only if certain conditions are met. I never used this feature...just saw it explained in a video once. I don't know if they still have this feature and whether it allows for making sell orders conditional on a purchase order of the same ticker.
Thanks for the response. I'm interested in swing trading and setting up trades early in the week (or the weekend) and allowing them to execute while at my job. I was just curious if there was a way to buy and have a stop loss order immediately and automatically set up so I don't come home from work and find out I'm out $100 or something.
