I'm looking to place a trailing stop on a stock IF AND ONLY IF the stock reaches a certain profit level. My goal is to effectively place a sell limit order, but to extend the upside if the stock continues to run. (Note: I did not include any down-side protection in this example)
Will this work as described below? (Platform: Think or Swim)
Current stock price: 100
Price rules: TRAILSTOPLIMIT
Limit Price: 150
Stop offset: -10
Desired outcome: Will this place a trailing stop order of -10 if the stock prices goes up to 150?