Jump to content
  • 0

Add trailing stop to a limit order


zala

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?

Link to comment

9 answers to this question

Recommended Posts

  • 0

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. 

Link to comment
  • 0

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. 

Link to comment
  • 0
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.

Link to comment
  • 0
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.

 

  • Thanks 1
Link to comment
  • 0
Guest 202925
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

Link to comment
  • 0
Guest Trailing Stop Limit Orders

Hi please could someone let me know if Trailing Stop Limit Orders have now become available on IG platform?

Thanks

popsys

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • DIMO's platform seems to be shaking things up in the car world! Being able to get useful info about your car easily sounds great for drivers. And now that their token is on Bitget exchange, more people can get in on it. Super exciting news!
    • Just for completeness, I mean lists of companies. Many thanks, Peter
    • It’s one of the most popular traded markets on our end, and we take a look at the S&P 500’s technical overview in both weekly and daily time frames, the strategies to deploy for conformist, contrarian and ‘hold’ camps.   Written by: Monte Safieddine | Market analyst, Dubai   Publication date: Tuesday 27 February 2024 06:48 Dive into the conflicting sentiments of IG clients versus COT speculators and stay ahead of the game with upcoming market events. Don't miss out on this essential guide to understanding the current state of the S&P 500 and preparing for what lies ahead!       This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.    
×
×
  • Create New...
us