Doing some trading in my nights... well at least entering orders. The problem I'm having is when I enter the orders for the following day after hours it won't let me set the stop lower than the "current market price" which is almost certainly not going to be the market price at the open.
If I just enter a Limit order. If the stock opens lower than the previous day and I pick up a stock I'm not interested in at the lower price.
Are there any other types of orders I should be looking at? Are there brokers which will accept orders for the following day and not execute them until the stock is open? Currently I'm thinking I need to find a broker which has a trading client that has a documented API and enter stop limit and limit orders immediately after the open.