I cant place a Stop Loss and Limit Sell Order on the same stock and order. Am I doing something wrong? Eg I already own 1 share which price is 10. I want to set a Sell Limit Order at 12 (meaning if price reaches 12 then sell) and at the same time also set a Stop Loss Order at 9 (meaning if the prices drops from 10 to 9 the Sell). I havent been able to do this with the same stock, I cando either one or the other but this is a pretty standard function so I must be doing something wrong.
Thanks in advance
No. Setting an action - such as a limit order - essentially “reserves” the stock, making it unusable in other ways. In the same way that putting a limit buy in place reserves those funds, making them unusable for other limit buys.
you can’t set orders for more stocks than you own,
eg: 1 stock on a stop loss and 1 on a limit would require you to own 2 stocks total
edit: what @beermoneytrader said
Thanks for letting me know. That makes no sense though. I mean the option should be in the same order to be created.
I thought that was pretty standard.
Never had a problem setting two limit orders (upper and stop) with my main broker.
Only one can ever execute at a time and the execution of one, cancels the other.
I don’t know who your main broker is but I assumed the OP was asking about Freetrade
I’ve just commented in another thread it’s not possible with Freetrade, I’ve tried as well, but it is possible.