Ok, so first off I'll start out, I am a noob and am trying to understand the different types of trades and how to use them. I have an account on TD Ameritrade which I am just now beginning to understand the think or swim platform. When I first started I opened a Robinhood account because it was free trades and the platform looked simple. That's my problem, there are only the basic trades options available. I'd like to place an OCO order but no option for that, see attachment. So, should I place both a sell limit order & a stop limit order at the same time? If the sell limit executes, will the stop limit cancel, or will I have to cancel it myself. I want to capture my profits, so I want to make sure I get this right. Sorry for the long post, Thx Ted
Cool thing about TD Ameritrade is the paper trading (fake money)… I cant answer your question because I don't use that order type, but you could easily set up a mock trade and see how it works... Also checkout the trail stop order,if preserving profits is what youre aiming to do
Ameritrade does support some types of OCO...they call it "conditional orders." I've used it maybe a couple times over the years I've been with them. You should be able to find it on the desktop (full) version of their website. Is your screenshot from mobile phone? My view is that Ameritrade's mobile apps aren't nearly as functional as the full-on website and/or downloadable desktop apps. I don't use Think-or-Swim anymore ever since I gravitated away from windows and into Chrome OS about 3 years ago (ToS is not supported on Chrome OS).
His screen shot looks to be from Robinhood... Here is the trade screen from TDA mobile... Under order types, options are: Market, Limit, Stop, Stop Limit, Trail Stop, MOC, LOC
