So I do an options trade every morning. I just follow some guy, turned 25k into 250k over six months so it’d astonishingly consistent. It prints like crazy. The issue is that I can’t move my SL here's what I want to do.
Place trade with a SL of -30%
When I take my first TP1 at +20% I want to move my SL to either wherever I just exited (20%)
Then my next TP2 will be whatever 30-40%. I'd like to sell some contracts here move my TP to TP1
Then my next TP3 will be whatever 50%-60%. I'd like to sell some contracts here and move my TP to TP2.
Is there anything that can do this well? CS won’t do it at all. Robinhood does it but I have to be exposed for a second. The trades are done in seconds or minutes so I need to automate it or something.
Becuase I’m happy with 20% I close out at TP1 every time. Which is super respectable. But if I could grab these runners while protecting my profit. I’d gladly do so.
Options trading platform for my use case.
byu/traker998 inoptions
Posted by traker998
1 Comment
What does “I can’t move my SL” mean? You can replace an existing W/X stop-limit with a new Y/Z stop-limit. Unless you’re trying to set the new stop-limit at the current price (which makes no sense if it’s a profit-protection stop), the replacement will take milliseconds.