Is anyone aware of a futures trading platform that would automatically place a stop-loss (stop market order) and then, also automatically, reduce the quantity of this stop market order to keep it in line with the current position size? Example: 1. the account is flat 2. a trader places a buy market order for 10 contracts 3. a stop-loss (stop market order) for 10 contracts is submitted automatically at the average position price minus 10 points 4. a trader places a sell market order for 3 contracts 5. the platform automatically reduces the stop market order quantity to 7 contracts, etc. 6. the process is repeated until either the position is closed manually by the trader or stopped out. Does anything like this exist?
This is not what he is asking for. He is saying: I put in an order for 10 contracts, and have a stop. I take 5 contracts off. I want the stop quantity on the existing stop order to be automatically modified to now have a quantity of 5. I do not believe IBKR does this. The functionality you are referring to is a feature for order creation.
By the way, this reminds me... I actually wrote some code to do this automatically for IBKR. So if I have a stop for a contract, it waits for position changes, waits for a few seconds, then updates the stop with the new position size.
Actually I think it does work, BUT, you have to use the "Close Position" function-call. I have done it (100x) though the hot keys when manually trading.