You can place as many conditional orders as you want if you have the buying power to support all the buy orders and shares available to support all the sell orders.
When you have a pending sell order, the shares associated with that order are held for that order. You need to cancel this order to place a new one.
Example:
- You own 10 shares of NVDA, and there is a pending sell order for 10 shares. If you try to place another sell order for NVDA, you will receive the error "Insufficient Quantity Available". You must cancel the existing order to place a new one as 10 shares of NVDA are held for the pending sell order.
- You have $100 in cash, and there is a pending buy order for $100 of NVDA. If you try to place another buy order, you will receive the error "Insufficient Buying Power". You must cancel the existing order to place a new one as $100 is held for the pending buy order.