Trade2win saved my A$$ets!... now I need help with buying

Humble_trader

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This site has been extremely helpful! I came here wanting badly to start trading last week. But instead of getting started trading, I spent my time reading the stickies up here... the advice on patience was not what I wanted to hear, but you convinced me to keep reading.
I was ready to put 90% of our savings on long term bets like top name stocks last Monday. And I probably would have panicked/sold at huge loss knowing my luck...THANK YOU!!!

Ok,
I have a day-trading plan. I'm ready to paper trade. I've decided to put 15% of savings into Interactive Brokers and start with small trades testing my strategy. My plan involves riding established up-trends.

First problem I've faced using the DEMO:
How do I make a BUY that triggers at a price thats higher than current price?

-If I set a limit, it triggers immediately.
-If I set a stop-limit, it also triggers immediately.

Obviously today is a bad day to bug customer support over there with fake money questions.
Thanks for your help!
 
. . . How do I make a BUY that triggers at a price thats higher than current price? . .
Hi Humble_trader,
Welcome to T2W - glad you're finding it useful.

In answer to your question, you want to use a 'stop buy' order to go long at a price that's higher than the current price and a 'stop sell' order to go short at a price that's lower than the current price. IB may have a slightly different name for them - but that's what they're generally known as. If you're still getting your head around order types, this FAQ might be of interest: What's the Difference Between Stop Loss and Limit Orders?
Tim.
 
Thank you! I went back and ordered Buy "stop" and it worked. It drew a nice line on the chart like it does in videos. Then I tried BUY "stop limit" again, and it worked the same! So I'm not sure what I was doing wrong before, Already made 8 pretend bucks, just trying to verify this lol!
 
Take it slow. Patience, develop your own day trading method based on price and volume. This is the core of any trading. Also develop your risk managment system, this is a must to keep you alive day trading. I Wish you all the best.


Thank you! I went back and ordered Buy "stop" and it worked. It drew a nice line on the chart like it does in videos. Then I tried BUY "stop limit" again, and it worked the same! So I'm not sure what I was doing wrong before, Already made 8 pretend bucks, just trying to verify this lol!
 
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