April 7, 2018 at 12:18 pm #1244carl nortonMember
Do you enter stop loss orders when you enter a credit spread and how do you determine it?
April 8, 2018 at 6:47 am #1349Deborah CarunchioMember
That is up to the individual investor. I would say for myself that I do not especially now when the market whipsaws very quickly. Remember that when you put these trades on your using technical analysis to make these trades to work in your favor.
April 8, 2018 at 10:26 am #1356Tommy CellaMember
I actively monitor them and may close one side of the trade if the direction of the market changes drastically.
April 8, 2018 at 5:27 pm #1398Doug HeiwigMember
Hey Carl, Good Question, I agree with Deb. However I wanted to make sure you get the mechanics therefore:
“You can set up your stops when you set up the order.
When you have your order at the bottom of your screen, go to the lower left hand corner of our order and there will be a drop down box with the words Single Order.
Click it on and chose 1st triggers OCO.
Then find the colored box just under the work Link on your order.
It is just to the left of the limit price.
Right click and choose create Opposite Order.
Do this twice.
You now have an opening order and an OCO order set up.
Customize each to your satisfaction and then click on your Confirm Send button.
Hope this is clear..
April 8, 2018 at 6:31 pm #1406carl nortonMember
Thank you, Doug.
You must be logged in to reply to this topic.