facebookCan you place a buy limit order above the current share price (or place a sell limit order below the current share price vice versa)? - Seedly

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J

Jerry

21 Apr 2021

βˆ™

General Investing

Can you place a buy limit order above the current share price (or place a sell limit order below the current share price vice versa)?

I wish to purchase a stock (long) only at a certain price above the current share price? Is there a tool to place this buy limit order?

Discussion (3)

What are your thoughts?

I think what you are looking for is a Stop order or Stop limit order.

Not every brokerage has this. I use Thinkorswim so I know I can.

Chris

Chris

21 Apr 2021

Owner and Writer at Tortoisemoney.com

It depends if your broker allows it. Many only allow limit and market orders which wont allow this since they'll fill immediately (since the buy price current price or sell price < current price).

However, if your broker allows, you can use a stop limit/stop market/trailing stop order to sell under the current price (eg if you're trading to cut loss). Alternatively, for the buy side, you can use a market if touched order to buy above a certain buy price (eg if the stock experiences a breakout and you want to get in quickly). IBKR supports all of these order types but Im not too sure about others.​​​

Maisul

Maisul

21 Apr 2021

Youtuber at Google (Channel : Say Do Invest)

Usually people will place a "Market order" instead of putting a limit order above the current share ...

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