Trailing stops now at IB

what are some useful Strategies
for the Trailing Stop?

I tried a Sell on NYSE, and got a terrible price.
Evidently it turns into a Market Order....ugh


Mark
:)
 
Agreed, you can make a stop order a "stop limit" order. I was referring to a basic stop order in my last post. Don't know if IB will let you use a stop limit. I've never used one. IMO, when you're wrong, you're wrong. Get out now, and don't try to get cute to save a few pennies.
 
OK, on further review, as they say around the NFL, I certainly can see the benefit of a stop limit order to ENTER a trade. I was narrow-mindedly focusing on using a stop as an exit mechanism is that last post.
 
well, let's take CRY for example.
I figure it's going to 5, maybe 6 bucks, here in the near future.

So, I thought I might use a Trailing Stop [not a regular Stop]
to kind of keep an eye on it; maybe a .25-.50 trail...

Otherwise, how do I know when it's hit it's peak,
unless I'm watching every second of the day?

I just seems like the Automatic "trail" might come in handy
[in some situations]

Mark
:)
 
Yes IB does offer both stop and stop limit orders. I have used both. But you have to be careful, because with a stop limit order the market can jump right over you stop and you are still riding a losing position down and it won't get you out of the market.
 
KB96,

You're right on the money. The whole point of a trailing stop is to allow a trader to liquidate a position when he/she isn't watching the bottom fall out of a stock. A stop limit doesn't guarantee this.
 
Stop Limits can very easily be missed Its happened to me a few times especially on very Low volume stocks
If you have a stop loss at Say 19.97 and Limit was 19.95 the stock hits that price but only one person was willing to buy at that price and the next bid was at 19.94 you wouldn't get filled.

Lower volume stocks are not good to use stops on at all
but if any use a stop limit

1) The reason i stated above
2) I had one trade with a stop market it hit my stop and the next bid was way down Yep i was filled at a ridiculous price (one of those wacky spikes down on the charts you see)

I guess someone was asking about a trailing stop without market order execution. But limit instead. Maybe in time
(Trailing stop Limit? In the future)
 
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