Can't Sell Position with an Open Stop Loss

[Brandi 0]

Hello,

I just started sim trading this week, and I keep getting hung up on something. I have figured out how to buy shares (long in this example), and then I was able to add a Stop Market order to sell those at a certain price. However, if the stock price moves up and I want to exit at my target price, I have to cancel my Stop Loss order before I can sell. I think this makes sense, in that I cannot have 2 open sell orders on the same position, but how do we work around that? Do I just cancel the stop loss before I sell every time?

Can someone point me in the right direction on this? Thanks so much!

-Brandi 

Edited April 20, 2023 by Brandi

[Lexie 3]

Hey Brandi

 

Did you solve this? I am currently trying to figure this out. I’ll try to scale out of a position and am not able to. Is this because I have a stoploss set as well?

[Matt 7]

This is a DAS Trader Pro demo nonsense problem. Always saying : not enough buying power! 

Each time I want to partial I must remove the stoploss and then put it again.

There is a macro you can add to the shortcut to cancel all the order : CXL ALLSYMB;

But don't forget to put your stoploss again and again and again!!

Hope it help!

 

[Brandi 0]

Yes that is helpful! Thank you!

 

So just to clarify, are you saying that this it does not work the same way in the live (non-demo) version? (I have not started live trading yet)

[Matt 7]

I don't know I nerver traded with a real account yet.