May 11, 2020

Other Contingency Orders On ThinkOrSwim

One of the things you will hear me harp over and over again is to mitigate and manage risk. What if you are trading in the room but have to run off to a meeting? I cannot promise that this is fail-proof, but there is a solution. You can place a limit entry order and if you get filled on your entry, you can have ThinkOrSwim immediately place a stop or a trailing stop for you. You can even have your exit limit order entered as well.

I am still a big advocate of not leaving risk unattended, but life goes on and this can help.

Please click the video below as I explain.

Don’t forget to follow me on Twitter @MikeShorrCBOT

 

about the author:

Mike Shorr

Since 1994, Michael has been an on-the-floor market maker, Vice-President of Interest Rate Derivatives for Knight Financial Products and Director of Education and Options Instructor at Trading Advantage. He makes the oftentimes complex world of options and trading accessible to the novice and advanced trader alike. Michael has a Bachelor of Science degree in Statistics and Finance from the University of Illinois Champaign-Urbana. He presently is Director, Trader Education at ProsperTradingAcademy.

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