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Help with scaling out problem


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Help with scaling out problem

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  #1 (permalink)
Coronel Vivida, Parana/Brazil
 
 
Posts: 46 since Oct 2020
Thanks: 17 given, 18 received

Thinkorswim doesn't allow me to scale out (take partial profits) when I have a stop order in place. For example, if 100% of my position has a stop loss set for -1R, it won't let me sell 50% of my position at +1R. It thinks I want to short sell the stock. I have to cancel the stop loss in order to scale out. Is there a way I can sell part of my position with a full stop loss in place?

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  #2 (permalink)
Coronel Vivida, Parana/Brazil
 
 
Posts: 46 since Oct 2020
Thanks: 17 given, 18 received

I was just messing around in the platform and I was able to do what I requested in my initial post. But I was trading earlier today and I wasn't able to do it. It was telling me that I couldn't short sell. I'm not sure what caused the error but I don't recall doing anything differently. Oh well. For anyone curious, you can set the stop loss in active trader by clicking the price in the "ask size" column (below the entrance price), and then chose the sell limit orders by adjusting the share size and clicking the prices you want to scale out at in the same "ask size" column but above the entrance price. You can also choose OCO or trigger w/bracket orders to set all the levels at once.

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The following user says Thank You to VinceField for this post:
 
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  #3 (permalink)
Los Angels
 
Experience: Intermediate
Platform: MultiChart
Trading: Emini ES
 
Posts: 115 since Aug 2018
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VinceField View Post
Thinkorswim doesn't allow me to scale out (take partial profits) when I have a stop order in place. For example, if 100% of my position has a stop loss set for -1R, it won't let me sell 50% of my position at +1R. It thinks I want to short sell the stock. I have to cancel the stop loss in order to scale out. Is there a way I can sell part of my position with a full stop loss in place?

One solution is to enter with 2 different orders. The first, lets call it "FirstOrder" and set "FirstOrder" to have a stop of -R. Also enter a "SecondOrder" with a stop of -2R.

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The following user says Thank You to SidewalkAerobics for this post:


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Last Updated on November 7, 2020


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