Last Update: July 2021
One of the more challenging aspects of mastering the art of trading is wrapping your noggin’ around the bells and whistles of a trading platform like ThinkorSwim, iVest, TastyTrade, and others. To those who view the task with trepidation, take heart. There are those with far fewer brain cells who have been able to do it, so you can too.
The catalyst for today’s commentary was the following question from Layne:
Is there a video or a posting about how and when to use the “Limit Linked To” feature of the TOS Order Rules? I have been trying to figure out how to use this feature to set my exits when the options trade has achieved 75% of the profit possible per the trading rules for the bear call and bull put vertical spread options.
As I have work and cannot be watching the market all the time, I would like to automate this part of my trades.
First off, three cheers for Layne for taking the bull by the horns and seeking solutions. So much of order entry is easier to show than tell, so we’ve crafted a quick (15 minute) video outlining a Bull Put Spread on $CRM. It includes how to input the entry, target, and stop loss. And when exactly you would use the “Limit Linked To” feature.
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Thinkorswim (TOS) Tutorial: How to set an Option Limit Order and Stock Trigger
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Thinkorswim (TOS) Tutorial: How to set up a Customized Contingent Bracket Order (OCO) – Part 2 of 3
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Thinkorswim (TOS) Tutorial: How to set up a Customized Contingent Bracket Order (OCO) – Part 3 of 3
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Morning Mailbag: How to set a Stop Loss in Thinkorswim (TOS)
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Morning Mailbag: How to control risk in a Credit Spread in Thinkorswim (TOS)
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Thinkorswim (TOS) Tutorial: How to place an Order Entry on a Credit Spread in Thinkorswim
In this Thinkorswim video tutorial, you will learn how to input the entry, target, and stop-loss and when exactly you would use the “Limit Linked To” feature.
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4 Replies to “Thinkorswim (TOS) Tutorial: How to place an Order Entry on a Credit Spread in Thinkorswim”
Thank you… You have covered exactly what I was missing on how to set an exit order to capture my profit when I am at work. Layne
Excellent explanation Tyler, as usual. Thank you.
If you’re looking for vertical credit spread opportunities, we have a real-time scanner: https://omnieq.com
Thank you, while I’m looking at this in 2020, it’s just what I needed to learn about as I pursue my trading education. Thanks again.
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