Buy Limit, Buy with Stop or enter a Stop Limit .....

July 11th, 2015, 05:48 PM

My question will surely seem like a rookie question to most , but I need some clarification on placing my Stop orders to ..... get me out of a trade at pre-defined profit target(s)

Example :

Say I go short the ES at 2072.25
and I want to have an order " sitting " at 2067.25 to take profit and get out / close out the trade.

How would I set this up ?
Would I put in a Buy Limit on the Buy ( Long ) side ?
Or would I need to place a Buy with stop ?
Or place a Buy with stop limit ?

I am using the TorS platform if that helps to narrow it down and help answer the question at hand

I appreciate the help

July 14th, 2015, 12:02 PM

You can only have Stop Market or Stop Limit buy orders at a higher price above the current price, and Limit buy orders at a lower price below the current price. In your example your resting order to take profit at 67.25 would be a Buy Limit order to buy back your short position and close the trade (or take part of it off).

Buy Limit, Buy with Stop or enter a Stop Limit .....

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Buy Limit, Buy with Stop or enter a Stop Limit .....