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Brokers with 'time release one sends another' order type?

Posted: Fri Oct 05, 2007 8:43 am
by LeapFrog
Does anyone know of a broker that currently has the platform capability to take a time release OSO type order?

My broker (OEC) has time release and time cancel orders and OSO orders but not both at the same time (they're working on it).

This would be an excellent feature to have as it would effectively free us traders from having to monitor intraday activity if we are using day of entry stops in our systems (as I do). We could enter our next day orders into the broker's platform for release the following day (say, to match pit exchange hours) and then if a stop order is filled, the corresponding protective stop would then be automatically sent by the broker's platform.

I know many brokers (robo type) do this for clients manually and also that many traders don't use day of entry protective stops. Still, I would have thought this would be a feature that many traders would want.

Thanks in advance!

Posted: Fri Oct 05, 2007 9:07 am
by RedRock
IB can submit an auto stop at your price if base order is filled between times you instructed. I use the API and will say its a great labor saver after its all set up for your needs.