John W Regular  Posts: 96 Joined: 6/18/2011 Location: Sydney, NSW, Australia  User Profile | For all those interested in placing their own stops on OV trades I recently discovered an interesting side effect of using OT to trade in the same account as OV. I did not notice but inadvertently I traded the same underlying symbol using OV and also OT in an option trade. The OT trade plan on the option required an exit when a virtual trailing stop was hit on the underlying (i.e. the same symbol as OV was trading). When the virtual stop on the symbol was hit the trade plan closed BOTH the option traded by OT and the underlying stock symbol traded by OV. It appears to me that it should be possible to attach your own favourite OT stops to your OV trades and have OT exit your OV positions if those stops are hit. WOW! If this is true then there is no longer a need for those who are a little adventurous to be locked into an OV Market on Open Exit, perhaps profit stops, trailing stops and even broker stops using OT and OV combined are possible! I realise that OV orders can be placed directly through OT, but for those who prefer to use OV then stops can be added to existing OV trades when the market demands it without being limited to the basic percent Trade Processor stops. John | |
