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Placing a GTC Limit Order
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Placing a GTC Limit Order

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Futures Experience: Advanced
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Posts: 232 since Sep 2010
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Placing a GTC Limit Order

Hi futures.io (formerly BMT) community,
I just started getting into Options heavily over the last few months and currently have a Demo Account with TorS

I'm still getting familiar with the Platform, entering Options trades and making adjustments, etc...

My question is...... How do I place a GTC Limit Order after I have entered a BullPut spread ?

Example:
I sell a $60/$62.50 BullPut for .70 cents
what I am wanting to do is..... As soon as I place the trade, I want to immediately set a GTC Limit Order to " Buy to close " my position for a 80% of max credit profit

Meaning, once I can buy to close my position for .14 cents ( thus realizing a profit of 80% of the max credit received )

just need some help or a few Screenshots please, of exactally how to implement this type of Stop on my Vertical/spread trades

Thanks for the help - Michael

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  #2 (permalink)
Membership Temporarily Revoked
Memphis,TN
 
Futures Experience: Advanced
Platform: ThinkorSwim,FXCM, Ensign Software
Broker/Data: ThinkorSwim, FXCM
Favorite Futures: Futures, Forex, Options
 
mdsvtr's Avatar
 
Posts: 232 since Sep 2010
Thanks: 853 given, 28 received

Here is a screenshot of a trade in question....

This is a screenshot of the Order Entry with a GTC, and a Stop Limit ( of what I think is how to initiate the trade, to automatically close the trade ' As soon as I can Buy to close " the position for a profit of 80% of the max credit I received for initiating the trade


Hope this screenshot helps make clearer my question

Thanks for the help

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Placing a GTC Limit Order-ipgp-correct-order-entry-.png  
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