For example.
With price at 6862.00 I place a Sell Stop Market order on the chart for 6860.00. The price falls to 6860.00 and my order gets filled so I now have 1 contract open short, a Buy Limit order open at 6855.00 and a Buy Stop open at 6865.00
Now I place a new Buy Stop Market order at a price above my open Buy Stop, let's say at 6870.00, so that if price moves against me and my short position gets closed, a new long position would get opened if price reverses.
So, now price goes up, my Buy Stop price (6865.00) is hit and the sort position is closed as expected. However, when this happens my Buy Stop Market order that was opened at 6870.00 also gets cancelled.
Why does that happen? Is there a way to make this not happen?
Basically, I am trying to have a new ATM order in the queue, ready to be filled if price reverses when I have an open position which was opened using a previous ATM order, and I would like to do all of this using Chart Trading.
Thanks!
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