🛠Just launched my trading journal! If you trade stocks, options, futures, or crypto, give it a try with a 7-day free trial and let me know what you think! traderlog.io/
Even me using TOS for 20 years, I still found your videos helpful. There's a video that's missing with creating bracket orders as general trades, it's a bit complcated but incredible.....
What a perfect explanation for my situation. Sold options on a futures contract and want to close (buy back) for protection if the contract price plummets. Couldn't figure it out on my own. Your explanation was perfect....now let's see if it works should it gets triggered. Thanks you so much as I've spent days trying to understand how to set this up.
Really well done video... great content, no wasted time, and good pace. Question - Is there a way to set up a conditional order based on your gain/loss %? I'd like to set up a condition to sell a position at XX% gain OR sell XX% loss, whichever happens first. I'd like to be able to save this condition and apply it to current positions without having to rewrite condition each time.
Is there a way to set the symbol in the conditional order to be the asset being traded as a wildcard or variable? I am trying to build a template, so the order will only execute when the asset (option) rises 30%.
Great information. Regarding your AAPL example at the end where you submit a limit w/mark if the stock falls below the price. If the stock gaps down through your price (like overnight), will an order still be submitted? Using the gapped down price? Just want to close the order quickly. Thanks in advance. Your videos are excellent. Nice style.
Great Vids!! Very helpful! I do have one question. I was following along on the mobile app as I will be at work for the prime option trading times so this is perfect for me. I see the conditions but I do not see the study selection. Do you know if I can apply study conditions on the mobile app?
Right now, no. But I really think that could change. They only just added a bunch of those other conditions buttons in the last year. Hopefully that’s a future update!
Great work! Love your videos! Do you know how to build a scanner for the 5-8-13 EMA crossover strategy for 5 min chart? Would really appreciate insight from a professional like yourself.
Thanks for great video and explanation. I’ve been looking for a way to place a credit spread order for specific width (eg:20 point width), for specific delta (eg: 30) based on a condition (eg: stochastic indicator cross longer indicator towards upside). Can you recommend an approach for doing this? If order placing is not possible, can I just set an alert with this condition?
You’d want that to be automated, correct? As in it would look for a 20 point credit spread with roughly a 30 delta and automatically place the trade when the crossover occurs? If so, not really going to be able to get that advanced within thinkorswim. You’d have to pick the spread manually then set the crossover as the condition to create the trade. You might wanna look at something like ninja trader if you want to create something like that and have it fully automated
This is Great! Thank you. Can I do this with Verticals to help manage risk? And...What about multiple days. Example: I want to place an OCO order to buy back a spread at a certain price and create a stop limit order to manage risk. If I submit at 4/9/22 @ 10:30:00 and cancel at 4/13/22, Will it submit at 10:30 every day? Thank you so much! I think you gained a follower. :)
You could use it to leg out of a vertical, but you cant do manage both legs using this. A bit annoying, hopefully they change that in the future. For the timing question, no. The order be submitted at 10:30 on 4/9 then work non stop until 4/13 when it cancels itself. Hope that helps!
@@shortthestrike I watched the video. The question is related to options stop losses and limit orders. Can you set both at the same time in a conditional order that stops you out if the underlying stock falls and also sells if the underlying stock hits your target price?
@@aliciajackson2205 Yes, absolutely! You're going to have to create an OCO bracket and then set a condition for each one. Both for the profit target and for your stop target. If you run into any issues doing it let me know and I can make a video for you.
@@shortthestrike I would like a video for this. Have been using the mobile app and entering paper trades. I think I’ve messed up on the bid/ask several times. I’m thinking I should use the mark to use the stock price as the trigger. Ty in advance!
Can we setup a buy order with a sell order together if filled. Like buy me in at $200 and once I'm in I want to risk 20%. Is that possible? So a set it and forget it.
@@shortthestrike I use the conditional window under "study" instead of the default mark. For parameters I change condition setup to 5 min. Add condition "Price, close" Period: 5 min PriceType: LAST is greater than Value "input stock price" within 1 bars For whatever reason, this doesn't work. It fills the position as soon as it crosses the stock price. I made sure to select "Price" then "close". Not sure what I am doing wrong
I would like to report an error that occurs when you save an order this makes the saved order unusable because it will never trigger buy/sell. I am sending two images the first show a correctly formatted order that functions correctly and will trigger orders. The second image is from the "Saved" Order. Notice the syntax error? This seems to occur if your Order Conditions are Multiline ThinkScript scripts The Original Order has syntax TQQQ STUDY ‘plot….. and works as expected. The Saved Order creates an order with a syntax error… namely STUDY 'TQQQplot….
🛠Just launched my trading journal! If you trade stocks, options, futures, or crypto, give it a try with a 7-day free trial and let me know what you think! traderlog.io/
Even me using TOS for 20 years, I still found your videos helpful. There's a video that's missing with creating bracket orders as general trades, it's a bit complcated but incredible.....
any idea of how i do it with options delta???
Recommend you practice this in PaperMoney before attempting in live. Hope this helps streamline your trading!
What a perfect explanation for my situation. Sold options on a futures contract and want to close (buy back) for protection if the contract price plummets. Couldn't figure it out on my own. Your explanation was perfect....now let's see if it works should it gets triggered. Thanks you so much as I've spent days trying to understand how to set this up.
Nice video on conditional orders, I really appreciate the time you put into it.
Can a time contingent order based on stock price, like the first example, be set to farther out than a day? or as far as indefinite?
Really well done video... great content, no wasted time, and good pace. Question - Is there a way to set up a conditional order based on your gain/loss %? I'd like to set up a condition to sell a position at XX% gain OR sell XX% loss, whichever happens first. I'd like to be able to save this condition and apply it to current positions without having to rewrite condition each time.
Great video - I've been looking for this information for a while now. Thanks!
Glad it helped!
Quick question. Will the conditional order show up on the underlying chart so we can edit it as the price moves up or down?
Great tutorial, just slow it down a bit for us newbies😉 Thanks brother
Absolutely!
Just a tip: you can slow the video down in the options menu on the bottom right of the screen. play it back at .75% speed ✌
How can I configure a contract to be sold or executed at a certain time of the day?
Is there a way to set the symbol in the conditional order to be the asset being traded as a wildcard or variable? I am trying to build a template, so the order will only execute when the asset (option) rises 30%.
Very helpful thank you!
Glad it helped!
Great information. Regarding your AAPL example at the end where you submit a limit w/mark if the stock falls below the price. If the stock gaps down through your price (like overnight), will an order still be submitted? Using the gapped down price? Just want to close the order quickly. Thanks in advance. Your videos are excellent. Nice style.
Great Vids!! Very helpful! I do have one question. I was following along on the mobile app as I will be at work for the prime option trading times so this is perfect for me. I see the conditions but I do not see the study selection. Do you know if I can apply study conditions on the mobile app?
Right now, no. But I really think that could change. They only just added a bunch of those other conditions buttons in the last year. Hopefully that’s a future update!
Great work! Love your videos! Do you know how to build a scanner for the 5-8-13 EMA crossover strategy for 5 min chart? Would really appreciate insight from a professional like yourself.
Thanks for great video and explanation. I’ve been looking for a way to place a credit spread order for specific width (eg:20 point width), for specific delta (eg: 30) based on a condition (eg: stochastic indicator cross longer indicator towards upside). Can you recommend an approach for doing this? If order placing is not possible, can I just set an alert with this condition?
You’d want that to be automated, correct? As in it would look for a 20 point credit spread with roughly a 30 delta and automatically place the trade when the crossover occurs?
If so, not really going to be able to get that advanced within thinkorswim. You’d have to pick the spread manually then set the crossover as the condition to create the trade. You might wanna look at something like ninja trader if you want to create something like that and have it fully automated
This is Great! Thank you. Can I do this with Verticals to help manage risk? And...What about multiple days. Example: I want to place an OCO order to buy back a spread at a certain price and create a stop limit order to manage risk. If I submit at 4/9/22 @ 10:30:00 and cancel at 4/13/22, Will it submit at 10:30 every day? Thank you so much! I think you gained a follower. :)
You could use it to leg out of a vertical, but you cant do manage both legs using this. A bit annoying, hopefully they change that in the future. For the timing question, no. The order be submitted at 10:30 on 4/9 then work non stop until 4/13 when it cancels itself. Hope that helps!
@@shortthestrike Thank you very much! So, in order to avoid the opening kaos, I would have to do it everyday, correct?
So I have an OCO limit order for options... is it possible to setup a condition like if MARK moves +N then move SL to b/e ??
Can you add both a stop loss and a limit order based on the underlying stock prices, or can you only set up one?
If this is for stock, check out this video! ua-cam.com/video/fYlNYNAfC50/v-deo.html
@@shortthestrike I watched the video. The question is related to options stop losses and limit orders. Can you set both at the same time in a conditional order that stops you out if the underlying stock falls and also sells if the underlying stock hits your target price?
@@aliciajackson2205 Yes, absolutely! You're going to have to create an OCO bracket and then set a condition for each one. Both for the profit target and for your stop target. If you run into any issues doing it let me know and I can make a video for you.
@@shortthestrike I would like a video for this. Have been using the mobile app and entering paper trades. I think I’ve messed up on the bid/ask several times. I’m thinking I should use the mark to use the stock price as the trigger. Ty in advance!
Part 4 you can use for Options or buying / selling leveraged ETFs
Thank You
Thank You 🙏
Any time!
Can we setup a buy order with a sell order together if filled. Like buy me in at $200 and once I'm in I want to risk 20%.
Is that possible? So a set it and forget it.
having a problem creating a Conditional BUY Order crossing below PG High or above PG LOW on the MONKEY BARS also using stochastic . any HELP ?
Lets assume you want to buy a contract when the 5 min Candlestick closes above a certain price level. How do you go about doing that?
Ill have to check if I can do it using the conditional window. If not, it would have to be scripted
@@shortthestrike I use the conditional window under "study" instead of the default mark.
For parameters I change condition setup to 5 min.
Add condition "Price, close"
Period: 5 min
PriceType: LAST
is greater than
Value "input stock price"
within 1 bars
For whatever reason, this doesn't work. It fills the position as soon as it crosses the stock price. I made sure to select "Price" then "close". Not sure what I am doing wrong
can you do this for only stock traders
This can be done for both stock and options. Was there something specific you were trying to create?
@@shortthestrike Yeah I wanted to be filled an the point of "breakout".But when I place OCO limit buy order it fills me before that condition is met.
Awesome!
Thank you!
I would like to report an error that occurs when you save an order this makes the saved order
unusable because it will never trigger buy/sell. I am sending two images the first show a correctly
formatted order that functions correctly and will trigger orders. The second image is from the
"Saved" Order. Notice the syntax error? This seems to occur if your Order Conditions are
Multiline ThinkScript scripts
The Original Order has syntax TQQQ STUDY ‘plot….. and works as expected.
The Saved Order creates an order with a syntax error… namely STUDY 'TQQQplot….
This is the best kept secret in TOS!!
Hope it helps!