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Stop Loss and Trailing Stop

 

I need a little help unerstanding the logic of the stop loss and
trailing stop procedures within IB. I understand the functions they
play but when I try to enter either of these I get confussed.

The only way I can get to the stop loss or traing stop functions is to
first enter a sell order which shows up as a day limit order. I then
click on the sell box to pull down the stop loss or trailing stop
functions. I now have an additional buy line with a STP function
shown.

My question is how do these two orders work together in order to stop
a falling stock. I wanted to execute this procudure this morning but
as it became unclear I decided not to go forward and ask anyone to
help me understand.

I am sure this is basic stuff but bear with me please.

Thanks!!!
 

Stop Loss- should be triggered to a market order at the price you
specify, you should be able to specify if its triggered by the bid ask
or last trade.( don't know how to do that)
Trailing stop loss - you specify the "spread" from the current price.
So lets say you had a sell trailing stop of 1 for the current price of
20. Your stop should get triggered 1 point below the current price
from the moment you enter the order. If stock moves to 20.5 after you
entered the order your stop rises to 19.5. if the stock drops to 19,
your stop loss is triggered.
If you have a buy showing up instead of a sell you can change it manualy

--- In TWSAPI@..., "rdcurrie2001" <currie-s@...> wrote:

I need a little help unerstanding the logic of the stop loss and
trailing stop procedures within IB. I understand the functions they
play but when I try to enter either of these I get confussed.

The only way I can get to the stop loss or traing stop functions is to
first enter a sell order which shows up as a day limit order. I then
click on the sell box to pull down the stop loss or trailing stop
functions. I now have an additional buy line with a STP function
shown.

My question is how do these two orders work together in order to stop
a falling stock. I wanted to execute this procudure this morning but
as it became unclear I decided not to go forward and ask anyone to
help me understand.

I am sure this is basic stuff but bear with me please.

Thanks!!!

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