Which Brokers Support Trailing Stops?

Discussion in 'Retail Brokers' started by rrisch, Apr 2, 2001.

  1. rrisch


    I have a style where (for long positions) I put a stop limit triggered if the stock goes 5% below my purchase price with a limit 6% below the purchase price. If the stock goes above 6% of my purchase price I set a stop limit triggered if the stock goes to 75% of the highest profit I could have taken since holding the stock with a limit of 70% of that profit. I do similarly for shorts.

    I find this quite tedious to do by hand. Which brokers have systems which would allow me to set this up or do some reasonable substitute, automatically, when I enter a position? Thanks.
  2. Commisso

    Commisso Guest

    cyber trader will do what you want

    go to cybercorp.com
  3. mgregor



    Did you ever get my e-mails? I sent you 2 requesting that spreadsheet you have on scaling out positions. So far, I haven't received anything...
  4. rrisch


    Thanks Commisso. Are they the only ones? I notice that there are quite a few negative comments about that broker. However I am not a scalper but keep buying (or shorting) relatively small quantities of different stocks from my watch lists and holding them until I am stopped out. My screens are good enough that most of these choices win. I hope Cybertrader is good for that.
  5. RJanes


  6. rrisch


    Doesn't sound as useful as Cybercorp. It wouldn't be a good idea to restrict all my selling or buying short to ARCA, I think.
  7. Commisso

    Commisso Guest

    Pretty Ironic that after I reccomend cyber to you they cost me over a g this morning. Got into a trade and due to technical problems with the software I was unable to liquidate my position had to call and place the order and by the time this fat bastard got to the trade desk it was about a 1/2 away from where I orignaly wanted to sell!!!!
    Love starting my new quarter off this way...

    Id stay away from these guys....

  8. Mbtrader i heard supports trailing stops
  9. rrisch


    Sorry Commisso about your bad experience with Cybertrader. You seem to be describing a difficulty with doing something interactively. Have you had an opportunity to judge if trailing stops or other orders that are left on their servers are handled well?
  10. Commisso

    Commisso Guest

    Sure they get handled well, for they are stored on their servers and then as soon as the trigger gets taken out it becomes a market order.....

    For some reason this morning the software would not take my market orders. The software kept relaying the error (market orders cant be placed before 9:30AM). So I took about a half point slippage on a 2k position dut to having to call them......
    #10     Apr 2, 2001