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Hi Trevor,
What you are asking for is a contingent order, one action is contingent on
another. In order to do this you must deal with a live broker who will
accept this type of order, then it is usually on a best effort basis only.
You could do it over the net with a deep discount broker by watching the
stock and when it reaches your price, buy at the market. This means you are
glued to your screen and I assume that is what you are trying to avoid.
I assume you are position trading, if so, why not use end of day close as
the signal and place the market order to buy on the open?
Perhaps someone can suggest a good broker for contingent orders.
Good luck and good trading,
Ray Raffurty
----- Original Message -----
From: De Vries, Trevor <Trevor.DeVries@xxxxxxxxxx>
To: Realtraders (E-mail) <RealTraders@xxxxxxxxxxxx>
Sent: Tuesday, August 03, 1999 3:08 AM
Subject: Option Trading
> R'Ters
>
> Could someone please provide info on the following :
>
> * I'm looking for a good equity options broker (discount house) for
> daytrading options.
> * Is it possible to place the following trade :-
> Go long 1 August call at strike $50 (at the market) if the
> underlying equity (say INTEL) trades through my stop price.
> What i'm trying to achieve is, if the stock trades through my stop
> price, then go long 1xcall at the market. So the stop order exists on the
> equity (as the trigger) and NOT the option. Is this feasable.??
>
> Appreciate any input.
>
> Regards
>
> Trevor De Vries
>
>
>
>
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