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Is there a type of order or stock trade that can be set such that I want to sell beyond certain cut off limit but continue to hold the stock if the price is increasing until a percentage of drop is noticed from the peak?

e.g., lets take today's GOOG stock.

my cutoff is 669$ + 20cents drop

This would mean try to sell if today's google stock goes above 669$ but do not sell if the stock keeps climbing beyond 669 unless there is a down tick of 20cents is seen ?

Thanks.

-- one of the answer below (keshlam) -- explains the question better.

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try to sell if today's google stock goes above 669$

This is Relative/Pegged-to-Primary Order with a Limit Price of $669 and an offset from National Best Offer of $0.00, but it is no different than an Market Order if the market price is $669 to begin with.

do not sell if the stock keeps climbing beyond 669 unless there is a down tick of 20cents is seen

This is a Trailing Stop Order with a Trailing Amount of $0.20. It sells if the market price dropped $0.20 from the peak.

The two orders are contradictory.

From your comments, I think the following is what you want:

Submit Trailing Stop Order when market price is above $669.

Cancel Trailing Stop Order before the end of the day and Submit Relative/Pegged-to-Primary Order to Sell.

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  • I thought trailing stop only applies to options
    – resultsway
    Jul 18 '15 at 16:13
  • Also the market price was not 669 to begin with it was around 664 in the morning.
    – resultsway
    Jul 18 '15 at 16:17
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I think that pattern is impossible, since the attempt to apply the second half would seem to prevent executing the first. Could you rewrite that as "After the stock rises to $X, start watching for a drop of $Y from peak price; if/when that happens, sell." Or does that not do what you want?

(I'm not going to comment on whether the proposed programmed trading makes sense. Trying to manage things at this level of detail has always struck me as glorified guesswork.)

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  • Its not impossible but it can potentially go on for ever. May be an AND of end date can have certainity ?
    – resultsway
    Jul 18 '15 at 0:11
  • Well, the first part never triggers.... yes, a timeout might address that, but whether that makes sense will depend on why the punter believes this request was desirable in the first place. Debugging any program has to start with a clear description of what you're trying to do.
    – keshlam
    Jul 18 '15 at 1:06
  • what do you mean the first part never triggers ? it will because thats what stock market is founded on. most people buy a stock at X$ and expects it to increase by x%, anything above is a bonus the bonus is what Iam trying to define. I want a guaranteed x% anything above that is a vague rule (that could be like wait for 5 more mins(or end of the day) if it goes up sell it (at end of the day) if it comes back to X$+x% just sell it for no bonus.
    – resultsway
    Jul 18 '15 at 3:12

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