Hi, I struggle to define the following in IBKR - and wonder how to enter the two Use Cases described below pls? I have looked into the "Trailing Market if Touched" & "Trailing Limit if Touched", but have difficulties to understand how to define it. (https://www.interactivebrokers.com/en/index.php?f=1375) https://www.interactivebrokers.com/en/index.php?f=1376 Case 1: I already own 1000 stocks that I bought earlier today for 100, and the stock Last Price price now is 102. I plan to sell it, but will only Sell if and when I get a Technical Sell signal sometimes in the future. Later in the after noon, I do get a Sell Signal, and the stock is now trading at 103. Instead of just selling the Stock with a LMT Order at 103 or a MKT Order - I instead want to enter a Sell order at the specified price of 103, but combine this with a "Trail technique" using an amount of 0.50. My intention is not to Sell "now", but instead potentially benefit if the Stock continue to increase, using the "Trail technique" - and Sell if/when the Last Price is 0.50 below the traded Highest price above 103.00. If the stock price Last Price decrease from 103.00 to 102.90 at the time I enter my order to Sell at 103.00: => Nothing will be sold because the 102.90 is not below the 102.50 (103.00-0.50=102.50) If the stock then increase from 102.90 to 103.20 => Nothing will be sold because the 103.20 is "higher", but the Sell trigger level is moved up to 102.70 (103.20-0.50=102.70) If the stock then fall from 103.20 to 102.75 = Nothing will be sold because 102.75 is above 102.70 If the stock then increase sharply from 102.75 to 103.95 => Nothing will be sold because the 103.95 is "higher", but the Sell trigger level is moved up to 103.45 (103.95-0.50=103.45) If the stock Last Price decrease from 103.95 to 103.40 => I will now SELL the stock using a MKT Order, because the Sell trigger level remained at 103.45 (103.95-0.50=103.45). The automatic entered MKT order results in that I sell 1000 stocks at 103.37 because that was the best available Bid Price at that time the MKT order was automatically triggered. (Extra: If it is possible to define that I max want to Sell for example 0.25 away from my trigger level 103.45 - that means that I "maximum" want to sell as low as 103.20. This requirement is not crucial, but a good safety in case it exists) Case 2: I don't own the stock, but want to enter a Market Order to buy 1000 - combined with a Bracket Profit Taker to Sell the Stocks with a predefined "Trail technique" Price level. I manage to buy the 1000 stocks with a MKT order which results in the price 100.10. At the time I enter the MKT order to Buy 1000 stocks, I want to also enter a linked Bracket Profit Taker to trigger to Sell the 1000 stocks using a MKT order IF the Last Price hit 1.00 higher compared to the price I manage to buy the stocks for. However - I want to combine this with a "Trail technique" amount of 0.20. This means that at the time I enter the MKT order, I don't know the price I will get, but I know (or will know just after I buy) that if the stock Last price increase and hit 101.10 - then i will start using the "Trail technique" to decide when to trigger a Profit Taker MKT Sell Order. If the stock price increase to from my traded 100.10 to 101.00 => Nothing will be sold because the 101.00 is only 0.90 above the my Buy price , and below the predefined monitored trigger level 101.10 I want to wait to (potentially) Take the profit until the stock Last Price have at least first touched the 101.10 level, and then traded lower 0.20 below the 101.10 level. If the stock then decrease from 101.00 to 98.00 => Noting will be sold because I have not entered a Bracket Stop Loss Order, and the stock never traded as high as the 101.10 level either. If the stock then increase from 98.00 to 101.45 => Nothing will be sold, because the 101.45 is still "higher", but the Sell trigger level is moved up to 101.25 (101.45-0.20=101.45) If the stock continue to increase from 101.45 to 101.95 => Nothing will be sold, because the 101.95 is still "higher", but the Sell trigger level is moved up to 101.75 (101.95-0.20=101.75) If the stock then decrease from 101.95 to 101.76 => Nothing will be sold, because the 101.76 is "only" 0.19 below the Highest Last Traded Price 101.95 If the stock then decrease from 101.76 to 101.70 => This will trigger a MKT order to Sell 1000 stocks.Also - because the external Bid prices move sharply lower, I might just get filled to Sell at 101.67 because the MKT order just define to Sell at the Best price at that time. (Extra: If it is possible to define that I max want to Sell for example 0.25 away from my trigger level 101.75 - that means that I "maximum" want to sell as low as 101.50. This requirement is not crucial, but a good safety in case it exists) Thanks, TheScalperMan
Case 1: although I have not tried this myself, I think that you could add a "price condition" to a TRAIL order. In this case you could add the condition that the price must be >= 103, before the TRAIL order is activated. https://www.interactivebrokers.com/en/index.php?f=584 Case 2: I don't know whether in a bracket order you can define the profit taker to be a TRAIL order type (instead of the more common LMT or MKT order types). If you are able to select this type, then I think that it will automatically do what you describe. If you have a paper trading account then you can try these things out yourself, before doing it with real money.
Hi HobbyTrading and thanks for the information. I tried to look for the Conditional order as well in combination with the Trail, but can not find it using Mosaik. I'm after the exact way to enter the Case 1 and Case2 in IBKR and wonder if anyone knows exactly what number and drop down to type? I have also tried to test this using my Paper account but I just cannot figure out how (if IF) it is possible to do Case1 and Case". Anyone knows exactly what to enter in IBKR? Thanks