A few question for TWS users- 1. Is there a way to set a limit amount down on the day, where I would essentially get closed out of all positions and be unable to trade for the rest of the day if I hit this point? For example, if i didnt want to lose more than $2000 in a day, is there a way to set this up so IB would close me out of my positions if I hit this point? 2. If yes to question #1, is there a way to do this for an individual security or just total p+l? 3. Is it possible to essentially set a stop loss on my p+l for an invidual security. Say for example I am up $2000 in XYZ, and i continue trade it and lose $500, now am up $1500, can I set some type of limit when I am up $2000, so I can lock in $1400? Also, if these options exist, and anyone is using them, have they worked as intended? Thanks in advance.
Unless I've overlooked it, this is functionality is not available in TWS. It would sure be appreciated though.
ButtonTrader (a frontend for TWS) enables you to set a variety of risk settings. For instance, you can set max loss per single future, maximum loss in futures, max loss in specific stock, max loss in all stocks, and total loss per day. There's more, but this gives you an idea of how comprehensive this can be. You can set up various strategies per product, and then limit the loss on those strategies per day. You can find out more at www.buttontrader.com OldTrader
You can request new TWS features in the Features Poll. http://www.interactivebrokers.com/en/general/poll/poll.php
It is Portfolio Stop order. I think others also requested such feature a long time ago. Currenlty IB has only individual position's stop order capability.
trader25, IB currently only allows individual stop-loss for each trade. This recent thread discusses some other options: http://www.elitetrader.com/vb/showthread.php?threadid=115813.