If I want to trigger a trailing order automatically only after being in profit N number of ticks, what are the steps to create such an order on IB platform?
Ive never done this but i would guess: Create a TRAIL order with the trail amount, and before submitting it you need to select order->modify->condition and enter the price at which the trail stop should become active. Dont think you can enter ticks, have to enter a price. Best to test this out in paper trader.
Tried this, can't create a condition with trailing order. Condition creation only valid with limit & mkt order. Any other combo order that is similar?
Dont know of any. Your only alternative might be to code something with the API. The api client monitors price and sends a TRAIL order to TWS when the price level is hit. Not hard to do. Maybe one of the third party front ends that use the IB API might have this feature already.
Noticed this order type: http://www.interactivebrokers.com/php/webhelp/Screens/orderticketAdjust.htm Might be what you are after.