Novice advice

S

shovel52

I was just reading IB's order types and I was trying to get
some opinions on trailing stops or just protective stops in general. IB does not reccomend trailing stops because there is no quarantee that you will get filled in fast markets. I know there is no guarantee of fills , but what is the difference in using auto
trailing stops and just placing the stops your self at the end of each day? and a trailing stop limit? which means if you don't get your price you dont want out? I want out at any price if it's running away don't you? Any end of day traders have any input on the safest way to trade a stock with a trailing stop?

thanks John
 
I dont usually hold after EOD but as you know most platforms will not let you execute market orders pre and post market. All my trailing stops usually use market orders to exit. This would be a problem if I tried to convert them to work in the post market. True limit orders never guarantee a fill. Honestly I don't know what the answer is for trailing after hours, which is why I don't do it. Im sure someone has a better solution for automating it.
 
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