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
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

  • Thanks 1
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
  • General Statistics

    • Total Topics
      20,104
    • Total Posts
      88,179
    • Total Members
      69,098
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Protato
    Joined 04/10/22 18:59
  • Posts

    • Stocks: AAPL, AMZN, NVDA, TSLA, GOOGL, BRK.B, SQ, META, NFLX, ENPH, MSFT, BAC, JPM. Elliott Wave  SP500 US Stock Bear Market: AMZN, AAPL, NVDA, TSLA, GOOGL, BRK.B, SQ, META, NFLX, ENPH, MSFT, BAC, JPM, GS. Elliott Wave Technical Analysis  Stock Market News: Stocks rise, however the move up continue to move up on lower volume, divergence and corrective bear market rally, that should complete in the next trading session Stock Market Summary Elliott Wave Count: Elliott Wave Analysis - (iv) of c) of 4 of (1) Analysis US Stocks: Tesla TSLA, Amazon AMZN, Nvidia (NVDA), Apple AAPL, Microsoft MSFT, Berkshire Hathaway (BRK/B),Block, Inc (SQ), Meta Platforms, Netflix (NFLX), Enphase (ENPH), Alphabet GOOGL. XFL Finance Sector ETF, JPMorgan JPM & Bank of America BAC, Goldman Sachs Group Inc (GS) Stock Market Trading strategies: Looking to short the top and turn in the trading session Video Chapters 00:00 SP500 06:58 Apple (AAPL) 12:22 NVIDIA (NVDA) 14:40 Amazon (AMZN) 18:35 Meta Platforms (META) 20:17 Netflix (NFLX)  21:41 Enphase (ENPH) 24:14 Tesla (TSLA) 27:59 Alphabet (GOOGL)  30:35 Microsoft (MSFT) 31:31 Berkshire Hathaway (BRK.B) 32:33 Block Inc. (SQ)  33:38 Banks JPM, GS 36:14 End. Thanks for supporting! US Stocks: Basic Elliott Wave Counts Apple AAPL  Elliott Wave 4  Corrective rally Amazon AMZN  Elliott Wave 4 Nvidia (NVDA) Elliott Wave  ii) Berkshire Hathaway BRK/B Elliott Wave 4 Alphabet GOOGL  Elliott Wave 4 Meta Platforms FB Elliott Wave iv) Netflix (NFLX)  Microsoft MSFT  Elliott Wave 4 Tesla TSLA  Elliott Wave iii) Square SQ /Block Inc. Elliott Wave 4 JPMorgan Chase (JPM) Elliott Wave 4 Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com  
    • US DOLLAR TALKING POINTS: The US Dollar has dropped by as much as 3.3% from the high that was set last Wednesday and many are asking if the USD has topped. Given how aggressively overbought the greenback had become, this retracement looks to be a correction in the trend with no evidence yet of anything larger. However – price is approaching some major supports and performance around those levels will be key for determining near-term strategy. Of particular importance is the fact that the US Dollar is a composite of global currencies so the bigger question is when sell-offs in EUR/USD or GBP/USD might return and, in a related item, how will USD/JPY hold up with the pair pegged to the 145 level thought to be the line-in-the-sand for Japan’s Ministry of Finance? Oct 4, 2022 | Full article on DailyFX James Stanley, Senior Strategist
    • EUR/USD and GBP/USD edge up while USD/JPY falters at ¥145.00 again A pause in the dollar rally sees USD/JPY stuck below recent highs, but both the euro and sterling have made gains in early trading against the greenback.    Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 04 October 2022  EUR/USD rebound continues After falling to a twenty-year low last month, the euro continues to rebound against the US dollar with EUR/USD. This still looks very much like a counter-trend bounce that sees the price head back to the 50-day simple moving average (SMA), currently $1.1018 and then begins to falter. This would be in line with previous bounces since April, all of which have found it impossible to hold above the 50-day SMA. This move could see the price head back to $1.01. Further targets lie at $1.02 and then $1.0374. Source: ProRealTime GBP/USD recovers $1.13 The GBP/USD continues to defy the doomsters with a recovery above $1.13. Its own counter-trend bounce remains intact, and if previous bounces are any guide there is still some potential for upside, even if it only reaches the 50-day SMA. Like EUR/USD, the pound is still making lower highs and lower lows against the dollar, with the previous peak at $1.176 marking out the initial target for this bounce. Both stochastics and moving average convergence/divergence (MACD) have room to move up to support this move, but selling the rallies still appears to be the approach here for this downtrending market, although it looks like for now there is still a desire to push the pair higher in the short-term. Source: ProRealTime USD/JPY stalls below ¥145.00 It does look like ¥145.00 is the ceiling in USD/JPY for the time being – repeated attempts to break higher have come to naught, despite the continued strength of the US dollar. Indeed, it is perhaps precisely that we need a pullback in order for the trend to revive. The pair rallied hard from the August-lows, and now sits at some distance from the 50-day SMA (currently ¥139.15). A pullback towards this level might ‘clear the air’, create a higher low and provide a springboard for fresh bullish momentum. Source: ProRealTime
×
×
  • Create New...