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Add trailing stop to a limit order

Question

Why doesn't IG offer to set a trailing stop to a specific limit order?

Currently it only exists on market orders, and if one puts a limit order which gets filled, one has to manually put a trailing stop after the position has been executed.
Is there a way to fix this or does ProRealTime have this feature?

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Guest BMP

Excuse my ignorance here but isn't a stop a trailing stop loss that you must actually keep updating manually? I mean if say your stop loss is a fall of 2p of current price I can't see how you can have an automatic trailing stop because it would just keep dropping up or down by 2p all the time. In other words a stop loss becomes trailing by you physically setting a revised stop loss in other words you have to keep doing it manually. some one correct me if i'm wrong here. I am curious to know more about this myself, thank you. 

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So the primary reason for this is the legacy code which means the two different stop types follow different logic paths in the deal flow. We have raised this previously as a discussion topic for our core dev team, however at the moment unfortunately it's just not a priority given the client request to dev time required to change 'ratio'. At the moment regulatory change, Mifid II, ESMA and new products have taken up our time. If there is an update I will be able to let you know. 

Until then you can turn on notifications. When you're limit order is filled you'll be able to edit a trailing stop manually. I appreciate this isn't ideal, however it is the best work around we have at the moment. 

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@JamesIG,

The plus side of this is that it keeps traders in tune with market movements and their trades. The best trades are those which you live and breath. Editing a trailing stop manually with make sure traders are in tune with their trade. I know it is not idea but there are benefits if they want to be taken.

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On 7/30/2018 at 7:57 PM, TrendFollower said:

@JamesIG,

The plus side of this is that it keeps traders in tune with market movements and their trades. The best trades are those which you live and breath. Editing a trailing stop manually with make sure traders are in tune with their trade. I know it is not idea but there are benefits if they want to be taken.

It depends on each traders individual psychological makeup.
I do not feel that I am rational when I trade and watch my trades.

I do planning each weekend, set limit orders, wait until they get executed and then oversee them a couple of times a day.

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On 7/30/2018 at 5:06 PM, JamesIG said:

So the primary reason for this is the legacy code which means the two different stop types follow different logic paths in the deal flow. We have raised this previously as a discussion topic for our core dev team, however at the moment unfortunately it's just not a priority given the client request to dev time required to change 'ratio'. At the moment regulatory change, Mifid II, ESMA and new products have taken up our time. If there is an update I will be able to let you know. 

Until then you can turn on notifications. When you're limit order is filled you'll be able to edit a trailing stop manually. I appreciate this isn't ideal, however it is the best work around we have at the moment. 

I see, but it should be included in your functionality.
Guaranteed trailing stops would be very nice too.

 

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On 7/30/2018 at 2:48 PM, Guest BMP said:

Excuse my ignorance here but isn't a stop a trailing stop loss that you must actually keep updating manually? I mean if say your stop loss is a fall of 2p of current price I can't see how you can have an automatic trailing stop because it would just keep dropping up or down by 2p all the time. In other words a stop loss becomes trailing by you physically setting a revised stop loss in other words you have to keep doing it manually. some one correct me if i'm wrong here. I am curious to know more about this myself, thank you. 

No Guest BMP. The system does it for you if when your trade is live, you select Trailing stop loss. Your set the initial stop Loss- lets say 10p, and a trailing stop of 2p. So if your share goes up 2p, your trailing stop will now be 8p (10p Initial-2p trailing adjustment). It move in line with your bet- you go long- trailing stop moves up.

You can do this manually, but having a trailing removes the stress of lets say another crash etc!

The guys here want this added to an initial order, which is a great idea. Will it happen??? Not a chance

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