Trailing stops with PRT

[Guest JOSE PALAZUELO]

Hi all, 

about trailing stops using PRT and ProOrder, I got a message like "minimal incremental for this market is XXX amountperpoint".

My trade was starting at $286,52, buying 4 stocks ($1000 cash rounded up), and I had a trailing stop at $170, but when the platform tried to place the trailing stop (at $244,02) , it was not accepted with the message:

                                  "the trailing stop distance is set below the minimum requirement. The minimum distance for this market is 28,652 amount per point"

 

Can you please let me know what this means and how make this strategy works?

 

Thank you in advance

JP

[essuu 1]

Without knowing what instrument you were trying to trade this is mainly a guess on my part.

IG imposes minimum stop distances on trades. It's likely that the stop level you're trying to set ($286 - $244 = $42, roughly 15%) is too small for that particular instrument.

One way you can check the minimum stop distance is to look at the instrument through the web interface, click the circled "i" (letter 'i' in a circle) in the top-right corner of the screen. It'll give you the "key information" for that particular instrument.

For example, here's a screencap of the "key information" for trading the DAX exchange (German 30). It shows that the "minimum stop" is 5 points.

I'm guessing that with the instrument you tried to trade the stop level you wanted was within that "minimum stop" level.