What are your favourite order types for stop losses for IB?

I have been advised to always use stop losses when trading futures. So far, I have only been using mental stop limit orders for my stock trading.

I am bewildered by the variety of order types in IBKR. May I ask the elite traders here what are your favourite order type for stop losses in IBKR?

 

I don't use IB, but for futures on the CME I use "STOP with protection".

 

Thanks. Why is it better than normal stop limit order? Any risk compared to normal stop limit order? I read up about this order type. Not sure if I understand it correctly. Is it because the order is smart enough to execute price around the limit stop price to ensure that the stop order is not missed when the market moves too fast. Will this order result in a lousier price?

 

http://www.cmegroup.com/education/protection-functionality-for-market-and-stop-orders.html

 

Thanks. Seems like this order is good for protection against ridiculous stop-loss price execution during a flash crash!

 

IMO, STOP orders without protection and market orders without protection should not be legal orders. It should be a requirement in all asset classes.

 

Unfortunately, I noticed that some futures do not support orders with protection features. Futures on Globex supports protection features. Nikkei futures on Osaka exchange don't seem to support orders with protection features. I am not sure if stocks support this feature. It seems like this feature comes from CME.

 

I agree.