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Old 06-24-2019, 12:38 AM   Nav to Top  #1
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Default Placing both "Sell Limit" order and "Stop Loss" order together

Is there a way I can place both: "Stop Loss" and "Sell Limit" at the time of purchasing the stock? That way the stock auto-sells if it falls below a previous low (support) or auto-sells if it reaches a previous high (resistance).

For example in Robinhood (RH):

I bought 100 shares of AMD at $30 with a "Stop Loss" at $29.00. I wanted to auto-sell at $31(previous high) but RH said I cannot place the "Sell Limit" order since I already have a "Stop Loss" order in place.

I missed out on selling shares at $31 while I was at work. Now the stock is at $29.10. If I had placed a "Sell Limit" order instead of "Stop Loss", it would have sold at $31. But I dont want to leave a stock with only "Sell Limit" order without a backup "Stop Loss" order.

If RH does not have this feature: is there another broker that has this feature?

Is this known as OCO (One-Cancels-the-Other Order) or is there another name for the feature I am describing above.

Thank you
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