Entries & Exits

5 Types of Contingent Orders

Contingent orders are a great way to place orders in the market if you are not able to watch positions throughout the day. These are the top-5 contingent order types you can use to help automate your options trading.
5 Types of Contingent Orders
Kirk Du Plessis
Apr 19, 2021

Anyone who works a full-time job each day (or frankly doesn't want to sit and watch the market) should learn how to master these 5 contingent orders. These are also a great way to systematize your trading by placing your closing or adjusting orders in advance, at predetermined prices. We often place a good-till-cancelled(GTC) closing trade right after our opening trade so that the market gets us out of a trade automatically in the future when that price level is hit.

No tags found.
Next lesson
Limit Orders
Limit orders allow traders to execute their order at a specific price or better. Limit orders are a great way to initiate trades at a price you want an order to fill, and don't require you to watch the market or rush trades.

Trade smarter with automation