HOW TO: set more than one order

[Peter1980]

My discount broker (Questrade) doesn't allow me to set more than one order per security. For instance, I tried setting a stop order to protect from losses AND a sell limit order to exit with profit, but I was not permitted to set two orders on the one security. It's a real pain in the ass as I have to chose to either set a stop or limit sell on entries, forcing me to manual exit the order if things turn around.

I'd like to know if this one-order entry rule is standard or just a limitation of the brokerage.

Any solutions around this?

 

[Skill Leverage]

some exchanges do not accept limit orders. A 'one-order entry rule' is definitely not standard.

 

[dcraig1]

some exchanges do not accept limit orders.

Huh? Which ones?

 

[dcraig1]

Any solutions around this?

Get another broker. Seriously. Preferably one that supports OCA (one cancels all) order groups. eg if stop and limit orders are in same group, then if either is filled, the other is automatically canceled.

 

[Skill Leverage]

Huh? Which ones?

sorry, I meant stop limit orders. I assumed that's what he was referring to.

 

[oildaytrader]

My discount broker (Questrade) doesn't allow me to set more than one order per security. For instance, I tried setting a stop order to protect from losses AND a sell limit order to exit with profit, but I was not permitted to set two orders on the one security. It's a real pain in the ass as I have to chose to either set a stop or limit sell on entries, forcing me to manual exit the order if things turn around.

I'd like to know if this one-order entry rule is standard or just a limitation of the brokerage.

Any solutions around this?

Change the broker or use sub-accounts or change platform

 

[piparb]

Normal Brokers got bracketorders , thats standard .....
Questrade ...... what is that ??
At Tradefair they give no stops for call orders ....
I chat with them to tell , but they get angry and want not to give me an account .....
I answer , with you never I trade again ....
Better trade only Futuresbroker , they are not so expensive in Mini contracts .....
Normaly the CFD and SB Brokers must be forbidden in europe ....
NFA is sleeping and the government get tax from them ....

Change the broker or use sub-accounts or change platform