The goal is to quickly submit an entry order while the current price is near (breakout trading). If the price shoots up before I can enter a buy stop limit order at a particular price, then I would like that order to be automatically converted into a buy limit order instead of being rejected as it is now for placing buy stop limit below current market price.
With regular buy/sell limit orders, the limit order rests below the current price. If the limit order is placed above the current price, then the order immediately fills.
Is something similar possible for buy/sell stop limit orders? For example a buy stop limit order would be placed resting above the current market price. However if the current price is above where the buy stop limit order is being placed, then the order is automatically converted into a buy limit order instead (currently the stop limit order is being outright rejected).
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