Order Execution Inquiry

Beginner Questions
1

Hi Everyone.

Below is the example of the order I’m attempting to place.

If XYZ is currently trading at $20, I place an order to go long 100 shares at $21 via a buy stop limit order. Should prices never reach that high on the day the order is placed, I’d like a contingency that cancels the order if prices trade below $19 during that same day. I’ve been told that the cancellation order would require an API to be written by either myself, a programmer, or via software. Is this information true? Does a simple cancellation order require any one of these additional steps? Thanks.

2

Never heard anything like that.?

3

I’m betting someone here knows.

4

Unless you provide more details, no one can answer that question. What broker? What platform? Why are you discussing stock trading on a forex forum?

5

I trade with IB using their TWS platform. ‘XYZ’ company was the first thing that came to mind. I figured the answer was the same whether or not I used XYZ or Swissy, as the example.