Selling: Stop & Limit together...how to?

[yoyomama]

Maybe it's just the Scottrade Platform that won't let you do it... seems like I saw a Youtube vid of somebody doing it.

If I have a 1000 shares of something & want to protect myself & put in a stop at 7% below I get it... but is there a way to limit where I want to get out if it gets 7% above...all in the same order?

With Scottrade once I put in the Stop amount when I try to enter the Limit amount it tells me that I don't have enough shares?

[skiracer]

Maybe it's just the Scottrade Platform that won't let you do it... seems like I saw a Youtube vid of somebody doing it.

If I have a 1000 shares of something & want to protect myself & put in a stop at 7% below I get it... but is there a way to limit where I want to get out if it gets 7% above...all in the same order?

With Scottrade once I put in the Stop amount when I try to enter the Limit amount it tells me that I don't have enough shares?

set a stop loss at 7% below your entry and place a sell order anywhere you want 7 % above your entry. it's two different orders and shouldnt be any problem at all as they are both separate from one another and in different directions for different actions to be performed if specific price points are reached.

[yoyomama]

set a stop loss at 7% below your entry and place a sell order anywhere you want 7 % above your entry. it's two different orders and shouldnt be any problem at all as they are both separate from one another and in different directions for different actions to be performed if specific price points are reached.

Thanks for the reply. I'm pretty sure the Scottrade software doesn't allow for this to happen as you described. I've tried it. Once you enter in your shares to sell at a Stop...it behaves like you don't have those shares to sell at a Limit - if that made sense.

I think what I need to do is an OCO Order, One Cancels Other...I've yet to try it though.