IB Trailing stop?

[rossored]

Could someone explain to me how I attach a trailing stop to a limit order on TWS?

I understand 99% of it - ie choose "limit" then right click and "attach trailing stop" - thats obviously pretty clear - but what is the " 1 " that appears as default in the "TRAIL" box : Is that the size of the stop that I want, or the level at which the trailing stop starts?

I've tried to have a quick chat with IB this morning but the chat server must have a problem or something.

Cheers peeps

 

[Skimbleshanks]

That, I believe is the size of the stop - this is the default and you can change it, Configure, Order, Order Defaults.

 

[ian]

rosso,
skim is correct, the 1 is the default amount that is being 'trailed', so if you wanted to trail a stop by say 15 points then just change the 1 to 15 and submit the order...then go to the pub.

 

[rossored]

OK great - and presumably if it goes one tick through my limit and then tanks the other way, the trailing stop acts as a normal stop and takes me out 10 ticks (or whatever) from the execution point? I mean, it doesnt have to actually move the amount of the stop for it to become active, right?

 

[fillyerboots]

Yep,

 

[rossored]

Thanks peeps. As usual, I knew I could rely on fellow T2W'ers to answer my question!!

Right, off to the bar!!! LOL

 

[ian]

rosso, you can configure how the order is filled, like it must trade twice at the limit or whatever, i think trader333 described how to do this in an earlier post.

 

[Skimbleshanks]

To alter the way your stop is 'qualified' before it is executed, just go to Configure, Order, Stop Trigger Method, and you can select from four versions of stop triggers.

 

[neil]

Anybody having trouble logging into the IB TWS platform this evening?

All I'm getting is a grey screen.

 

[Trader333]

I am not having any problems this evening although I once had a problem that was down to my ISP. Who is your ISP ?


Paul

 

[options]

No, All still fine here Neil.

 

[Skimbleshanks]

All fine here too.

 

[yli2000]

OK great - and presumably if it goes one tick through my limit and then tanks the other way, the trailing stop acts as a normal stop and takes me out 10 ticks (or whatever) from the execution point? I mean, it doesnt have to actually move the amount of the stop for it to become active, right?

I am having trouble placing trailing stop orders uisng IB webtrader. So the trailng stop is trigged only when it first touches the limit price?

 

[Leonarth]

What about if I want to trail the by 15 points but have my stop at 30 points? TRAIL function works unidirectional? The same amount being trailed in profits is the same amount being stopped in losses?

Those points you're talking about how do they work on forex? Does that 1.0000 mean 1pip?

So if I buy EUR/USD at 16000 and set a TRAIL order of 15.000 does that mean that if:

EUR/USD goes to 15085 the trail order exits the market? and if:
EUR/USD goes at 16015 the trail moves the stop to 16000 ?

Or does the stop column work by itself?
Mean I set 15.0000 points of trailing and a fixed stop loss, than the trail order just adjust it?
In forex to set the order in pips I should do 0.0015 to have 15 pips move? Or write directly 15.0000 ?