Ameritrade to institute Trade Triggers within next month.
This is a great step for traders. With it we will be able to buy a position, set the sell order AND! set a stop order. Currently unable to do this.
Other ideas will be to automatically buy a stock when an index reaches a ceretain level.
Have a position, have a sell order in, if the position sells, have an automatic buy order in for a drop off.Example..Stock A is bought @ $14. today. You set a sell order for $15. tomorrow. You also set a buy back order for $14.00 tomorrow, which is only engaged if the 1st sell @ $15. executed & then the stock dropped back to $14.
These will be extremely helpful to traders who are not able to be in front of the computer all day.
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This is Ameritrade email
TRADE TRIGGERS
Let Trade Triggers help you manage your account, even when you cannot
be online.
Trade Triggers let you:
- Set multiple conditions or alerts.
- Place multiple orders on the same stock.
- Plan for up and down price movements.
- Plan future orders without tying up current buying power.
Trade Triggers allows you to select the market conditions in advance that
best fit your investment strategy. If these market conditions are met,
Trade Triggers will automatically send your pre-set order to the market
for execution.(2)
Or, if you'd rather just be notified of the conditions, just choose to
receive an alert. You'll be notified by e-mail when the specific market
conditions develop (up to 40 alerts per account).
Trade Triggers - Just one of the many new functions you'll soon be able
to take advantage of on the new Ameritrade Web site. Watch your e-mail
for information about when these features will be available to you.
