Adding a condition to your order

Note: conditions can only be added to new orders not submitted yet. 

To add a condition to your order:

  1. In the main toolbar, select Order entry.



  2. Enter the order details for the security you want to buy or sell. To learn more, see Placing an order.

  3. Click Add conditions. The add conditions window opens.



  4. Define your conditions. Choose from the following details:


Condition detail Description 
Symbol Type a symbol or company name.
Criteria Enter the criteria for the condition:

Name Description  Value type
Ask price Set a condition on the ask price going above or below the value you enter.
Dollar amount
Ask size Set a condition on the ask size going above or below the value you enter.
Quantity
Bid price Set a condition on the bid price going above or below the value you enter. 
Dollar amount
Bid size Set a condition on the bid size going above or below the value you enter. 
Quantity
Change $ Set a condition on the daily price change going above or below the value you enter. 
Positive or negative dollar amount
Change % Set a condition on the daily price change percentage going above or below the value you enter. 
Positive or negative percentage
Last price Set a condition on the last price of a security trading above or below the value you enter.
Dollar amount
New day high Set a condition on the price of the security trading above the day’s high.
Auto-filled
New day low Set a condition on the price of the security trading below the day’s low.
Auto-filled
New 52 high Set a condition on the price of the security trading at or above the 52-week high.
Auto-filled
New 52 low Set a condition on the price of the security trading at or below the 52-week low.
Auto-filled
% 52 high

Set a condition on the price of the security trading above or below the 52-week high. The value represents a percentage of the distance (offset) away from the 52-week high.

Formula: (Last price – 52 week high)/ 52 week High) * 100 >= chosen value

Positive or negative percentage
% 52 low

Set a condition on the price of the security trading above or below the 52-week low. The value represents a percentage of the distance (offset) away from the 52-week low.

Formula: (52 week low – last price)/ 52 week Low) * 100 >= chosen value
Positive or negative percentage
$ 52 high Set a condition on the price of the security trading above or below the 52-week high. The value is a dollar amount that represents the distance (offset) away from the 52-week high. 

Formula: (Last price – 52 week high) >= chosen value
Positive or negative dollar amount
$ 52 low Set a condition on the price of the security trading above or below the 52-week low. The value is a dollar amount that represents the distance (offset) away from the 52-week low.

Formula: (52 week low – last price) >= chosen value
Positive or negative dollar amount
Average volume Set a condition on the security trading above the 20-day average trading volume. 
Auto-filled
20-day relative volume Set a condition that compares the security’s current volume with the 20-day average volume. The value expressed is a ratio. 

Formula: current volume / 20 trading day average volume >= chosen value
Quantity
High volume Set a condition on the security trading at or above the high volume, which is two times the 20-day average volume.
Auto-filled
Volume Set a condition on the security trading with volume at or above the value you enter.
Quantity
Operator

Depending on the criteria selected, the following operators are available:     

  • >= (equal or greater than)    
  • <= (equal or less than)    
  • > (greater than) 
Value/symbol Choose No. to enter a value based on the condition you selected, or choose STK to compare with another stock. When STK is selected, the value field is replaced with a symbol entry field so you can compare values between two different securities.
Meets Select if you want your order to trigger when any condition or all conditions are met.
Validate conditions from

Select the time you want your order to start monitoring for conditions and the time to stop. By default, the fields pre-populate with regular trading hours (9:30 a.m. to 4:00 p.m. ET). However, pre- and post-market hours are also available. You can choose a starting time from 7:30 a.m. ET and an ending time up to 8:00 p.m. ET.

Note: pre- and post-market hours have market prices that are generally more volatile.
Start monitoring on If you would like to start monitoring for conditions on a future date, select the checkbox and enter a date and time.



Symbol comparison details (if STK is selected in the value/symbol field)
Criteria

You can compare the change (dollar and percent), ask, bid, and last prices of two different securities.

  • To compare symbols, click  and change the mode to .
  • Then, enter the criteria for the comparison:
Name Description Value type
Ask price Set a condition on the ask price going above or below the criteria you selected for the first symbol. Dollar amount
Bid price Set a condition on the bid price going above or below the criteria you selected for the first symbol..
Dollar amount
Last price Set a condition on the price of security trading above or below the criteria you selected for the first symbol.
Dollar amount
 Change $ Set a condition on the daily price change going above or below the criteria you selected for the first symbol.  Positive or negative dollar amount
 Change % Set a condition on the daily price change percentage going above or below the criteria you selected for the first symbol.  Positive or negative percentage
 Offset  An offset calculation can be added to the second symbol being compared. You have the following choices:
  • None
  • + (add)
  • - (subtract)
  • x (multiply)
  • ÷ (divide)
 Value If you select an offset calculation, then you also need to enter a numerical value for the calculation. 

Example 1
If you want to trigger an order when the bid price of stock ABC is $2.50 higher or equal to the ask price of stock XYZ, you would set up your condition in the following way:
[ABC bid price >= XYZ ask price + 2.50]

Example 2
If you want to trigger an order when the bid price of stock ABC is 1.5 times higher than the ask price of stock XYZ, you would set up your condition in the following way: 
[ABC bid price > XYZ ask price x 1.5]
Note: all price and volume conditions are based on real-time data, regardless of your data package.
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