> The IB API offers methods to avoid this: Along with your MARKET order, > you can place a second order that will become active as soon as your > initial order has been filled. The only thing you have to do is to > place a STOP LOSS (child) order and supply the order ID of your > initial (parent) order in your order object of the STOP order. > > Isn't there more to this? Does the stop loss order need to be explicitly managed if the strategy closes or reverses the position as part of its normal operations? Example: -- strategy goes long at 1300. The child stop loss order is placed at 1295. -- market moves up to 1304 -- strategy closes the long position at 1304 -- at this point, should JBT also cancel the child order?
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