Please be responsible for your own actions and words, and avoid blaming others or making excuses for your behavior. If you make a mistake, apologize and take steps to correct it.
- Manlobbi
Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
No. of Recommendations: 4
At TD Ameritrade, they had a trading feature on the Trade Triggers page where I could place a Trade Trigger order for prices that dropped a given percentage from THE PREVIOUS DAY'S CLOSE. Useful for snapping up a stock when there was a short, sharp price decline. The price drop out might be less than 5 or 10 minutes, far too short to take advantage of it without the trade trigger programmed.
Alas, when TDA merged with Charles Schwab, they did not bring over the handy TT feature, and they have told me it is not in their current planning. Is anyone aware of any broker that does have it available?
I made some great buys using TDA trade triggers, and plan to leave Schwab if I can find it elsewhere.
(The TDA TT could also be used for the inverse, selling when a price spikes. FWIW.)
TIA BB.
No. of Recommendations: 1
Interactive Brokers does, and a seemingly limitless number of other customizable conditional/dependent algorithms.
https://www.interactivebrokers.com/en/index.php?f=...I've had trouble with the learning curves for some of them - even had to make "trial trades" to make sure some worked as I wanted.
Though they do have lots of live & recorded Order Type seminars [of course I've never tried one :-)].
:-)Shawn
No. of Recommendations: 0
PS I think this is the IB syntax to build an example of the order you want:
< BUY IF FALLS 1.65 % FROM CLOSE:
'Percentage Change of IWM STK on Smart is < [LESS THAN] = '1.65 %'' means if stock declines from close a greater amount than 1.65 %' then BUY.>
There are options for entering the type of order [e.g., snap to bid, ask, midpoint; various limit variants; even -YUK- market; & more] you want when triggered, too.
No. of Recommendations: 1
Thanks! I'll give it a try, starting with a sample test trade, of course.
It sounds a little more complex than TDA's implementation, but if my decades old cerebral cortex hasn't calcified too far maybe I can get it.
I'll report back with results.
Thanks again!
No. of Recommendations: 1
I use the IB Basket Trader to input a series of trades to be triggered at a certain % price drop. Handy once you get over the learning curve.
No. of Recommendations: 2
Fidelity has that feature, by trailing $ or % for buys or sells. They also have a soft version of the same with Alerts.
