Which Brokers Support Trailing Stops?
- Thread starter rrisch
- Start date
Baron
ET Founder
Although your trailing stops would be held by and executed through ARCA, the execution of your order would not be limited to it crossing with another ARCA participant's order. ARCA can execute orders against Market Makers as well as other ECNs, so using it for trailing stops works pretty well.
Although your trailing stops would be held by and executed through ARCA, the execution of your order would not be limited to it crossing with another ARCA participant's order. ARCA can execute orders against Market Makers as well as other ECNs, so using it for trailing stops works pretty well. [/B][/QUOTE]
I looked at http://www.tradearca.com/news_and_views/updates/update_0400.asp and it seems that they do have trailing stop (limit) support, even for NYSE and AMEX issues. I would like more details on exactly what conditions they allow. I sent an email to MB Trading asking for details. If you have any further URLs, please let me know.
I looked at http://www.tradearca.com/news_and_views/updates/update_0400.asp and it seems that they do have trailing stop (limit) support, even for NYSE and AMEX issues. I would like more details on exactly what conditions they allow. I sent an email to MB Trading asking for details. If you have any further URLs, please let me know.
Robert,
I have been using the Terra Nova Investor product, and they offer ARCA stops. They have been useful over the past few weeks.
Here is some info on the order routing features Terra Nova offers. Note, they do not mention trailing stops, however, they have them. http://www.terranovatrading.com/Tutorials/order_entry_limitations.htm
Barry
I have been using the Terra Nova Investor product, and they offer ARCA stops. They have been useful over the past few weeks.
Here is some info on the order routing features Terra Nova offers. Note, they do not mention trailing stops, however, they have them. http://www.terranovatrading.com/Tutorials/order_entry_limitations.htm
Barry
Cybertrader ...
Yes, Cybertrader supports trailing stops. And sometimes they actually work.
Cybertrader is one of the most unreliable trading platforms around. Very *not* recommended.
It seems to have more problems and more failure modes than any other. By far.
And their commissions are sky high so you get to pay handsomely for the worst software in the business.
Ask around.
Yes, Cybertrader supports trailing stops. And sometimes they actually work.
Cybertrader is one of the most unreliable trading platforms around. Very *not* recommended.
It seems to have more problems and more failure modes than any other. By far.
And their commissions are sky high so you get to pay handsomely for the worst software in the business.
Ask around.
I received the following email from Mark at MBTrader today. Judging from it and the posts about Cybercorp and MBTrader on this Web site, I will wait until I see Navigator before making a decision on whether to go with MB or Cybercorp.
-----------------------------------------------------------
MB Trading is scheduled to release a new website within the next few weeks.
The current website is only an temporary site.
MB Trading's new product, the MBT Navigator, is the only direct access order
management system that fully integrates into the industry's leading quote
providers...such as eSignal, RavenQuote, DTN.iQ, NexTrend, QCharts,
LinnSoft, and RealTick.
The MBT Navigator gives you access to the fast and efficient ProRoute. The
ProRoute has direct connections to major ECNs like INCA, REDI, ISLD, BRUT, &
ARCA. It also has relationships with several major market participants,
which was designed to access pools of liquidity that were never available
before. The difference between our "smart" route and others is that we don't
use the Nasdaq SelectNet system, which is typically the cause of many delays
and outages. We believe the ProRoute route is faster, more efficient, and
more dependable than traditional smart routes.
The MBT Navigator will support Trailing Stops, Stop-Limit, Stop-Market,
Basket, Conditional, and Reserve Orders. We are also scheduled to offer MOO
(Market on Open), MOC (Market on Close), and OCO (One Cancels Other)
programmed orders shortly.
The MBT Navigator can be used as a stand-alone order management system. The
cost is only $50 per month, however this fee is waived after only 5 trades
per month. The minimum to open a margin account is $5,000. Cash accounts can
be opened with only $2,500. Our commissions range from $7.95 to $14.95 plus
pass-through fees (from .004 to .0025 cents per share).
If you are interested in the MBT Navigator, please reply to this email to be
placed on our priority mailing list. We will send you our promotional
package in addition to updates on the MBT Navigator's official release which
is scheduled for the end of this month.
Regards,
Mark
MB Trading
-----------------------------------------------------------
MB Trading is scheduled to release a new website within the next few weeks.
The current website is only an temporary site.
MB Trading's new product, the MBT Navigator, is the only direct access order
management system that fully integrates into the industry's leading quote
providers...such as eSignal, RavenQuote, DTN.iQ, NexTrend, QCharts,
LinnSoft, and RealTick.
The MBT Navigator gives you access to the fast and efficient ProRoute. The
ProRoute has direct connections to major ECNs like INCA, REDI, ISLD, BRUT, &
ARCA. It also has relationships with several major market participants,
which was designed to access pools of liquidity that were never available
before. The difference between our "smart" route and others is that we don't
use the Nasdaq SelectNet system, which is typically the cause of many delays
and outages. We believe the ProRoute route is faster, more efficient, and
more dependable than traditional smart routes.
The MBT Navigator will support Trailing Stops, Stop-Limit, Stop-Market,
Basket, Conditional, and Reserve Orders. We are also scheduled to offer MOO
(Market on Open), MOC (Market on Close), and OCO (One Cancels Other)
programmed orders shortly.
The MBT Navigator can be used as a stand-alone order management system. The
cost is only $50 per month, however this fee is waived after only 5 trades
per month. The minimum to open a margin account is $5,000. Cash accounts can
be opened with only $2,500. Our commissions range from $7.95 to $14.95 plus
pass-through fees (from .004 to .0025 cents per share).
If you are interested in the MBT Navigator, please reply to this email to be
placed on our priority mailing list. We will send you our promotional
package in addition to updates on the MBT Navigator's official release which
is scheduled for the end of this month.
Regards,
Mark
MB Trading
I've just been informed by Mark of MBTrading that the introduction of the Navigator System, he describes, has been delayed for several months. This is very unfortunate 
. It will be the only system, AFAIK, to support Good Till Cancelled trailing stops.
I've talked to the people at Cybercorp (Cybertrader) and they tell me that the trailing stops they offer are only valid while the user is logged onto his machine. So they don't support GTC. I've checked with some brokerages who use Archipelago. None support GTC orders for trailing stops.
. It will be the only system, AFAIK, to support Good Till Cancelled trailing stops. I've talked to the people at Cybercorp (Cybertrader) and they tell me that the trailing stops they offer are only valid while the user is logged onto his machine. So they don't support GTC. I've checked with some brokerages who use Archipelago. None support GTC orders for trailing stops.
TradePortal.com offers trailing stops and they are one of the most reliable, customer friendly Direct Access Brokers in the bunch. Compared to Online Brokers (browser based), TradePortal is expensive ($17.95/trade plus ECN fees)....their only drawback. But, when compared to CyberTrader.com, they are cheaper in the long run. When you call TradePortal, you are serviced immediately! If they see you doing something stupid while using thier software, they call you on the phone or send you an e-mail to discuss what you are doing wrong. Great people and extremely reliable trading!