From SB to IB?

This is a discussion on From SB to IB? within the Brokerages forums, part of the Commercial category; Peedee, where do IB give "warnings" about trailing stops?? I use them from time to time and I'm sure plenty ...

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Old Jan 8, 2004, 12:58pm   #46
Joined Dec 2002
Peedee, where do IB give "warnings" about trailing stops??

I use them from time to time and I'm sure plenty of others do too. It's up to you how tight they are/when they start etc. The whole purpose of them is simply to lock in accrued profits as the market moves : obviously it can pull back through your stop and then continue in the original direction, but thats life mate.
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Old Jan 8, 2004, 1:02pm   #47
 
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Many thanks

Peter
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Old Jan 8, 2004, 2:04pm   #48
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Mgste,

I really dont want to put a spanner in your works, but you should really know all of this stuff before starting to trade real money - unless trading is more of a hobby to you.

Trading demo's provided by brokers are well known for making people rich on paper very quickly so they start paying commissions asap. Maybe you should try paper trading off real data first?

Either way, you must understand the basics like tick value, lock limit markets, roles of participants etc. Take your time. It will be worth it in the long haul!!

Good luck.
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