IB Automatic Adjustable Stop Order...

Discussion in 'Automated Trading' started by Guru73, Jun 21, 2012.

  1. Guru73


    Please forgive my English (it’s not as good as it should).

    I am a beginner trader, I use IB as broker, I ask you:
    I can put a stop traling like this:
    Crude Oil long at 73.00 and stop loss at 72.00 at the market,
    if the price goes over 74.00 move the stop to 73.00, if the price goes beyond 75.00 to
    move the stop to 74.00 ...
    thanks in advance and sorry for my bad English...

  2. Using TWS...

    You can have a Trailing Stop. This will follow your entry order.... choose (i) tick for tick from the start. (ii) tick for tick from a trigger price.

    I think (ii) is called adjustable stop in TWS. You can adjust it one time only or adjust one time and then trail. You can not adjust multiple times in "steps" without using other software.
  3. no, if I understand you,once you put in a trailing stop, you never have to adjust it. It keys off the high price, so in your example if CL hits 75 and your trailing stop was 1.00 it will have adjusted all the way up.

    If you cancel and replace your 1.00 stop will be from the price you re entered it at.

    Just be aware, many traders use round number trailing stops, so you can expect a lot of them to be sitting 1.00 below the high.

    I have a trend system that uses fixed money stops and never adjusts. When I converted to trailng the whole system went to hell.
  4. Guru73


    the problem with IB trailing stop is that it moves tick by tick and not by the price level to price (this only one time). The question is this: you can not use a software API but only IB, will automatically adjust these levels (multiply) as the price goes to sleep in my direction?
    crude oil goes 71 stop 70 crude oil 72 stop 71 crude oil 73 stop 72 ecc...
    thanks for your help!
  5. Guru73


    Thanks for your answers.
    The problem with IB is that trailing stop moves tick by tick when the price moves in my direction. I'd like to establish a fixed amount, in the example of Crude Oil 1.00 and moved only when it reaches that amount. Then the crude oil goes 71 stop 70 crude oil goes 72 stop 71 crude oil 73 goes 72 ecc...
    You can not do this automatically several times without using another software (API)?
  6. yes, in that case you need to cancel and replace. So, you would want to use a fixed stop rather than a trailing stop.
  7. Guru73


    in fact, but I could do it automatically?
  8. yes, the trailing stop is automatic, it readjusts everytime CL hits a new high