Two questions for IB stop orders

[LifeMirage]

I am a beginner trader, I use IB as broker, I ask you:
If I have a stop order and close the TWS, the stop is always running?
Second question:
I can put a stop traling like this:
Crude Oil long at 73.01 and stop loss at 71.99 at the market,
if the price goes over 74.00 move the stop to 72.99, if the price goes beyond 75.00 to
move the stop to 73.99 ...
thanks in advance and sorry for my bad English...
Luca

 

[gc1]

For the first question, yes as the order is held on their systems until cancelled (or until a specific date/time if it was a Good-till-Date/Time order, or until another order in the group is executed if it is a One-Cancels-All order).

For the second question the TWS API does have various trailing stop order types but I have never used them. You would probably have to write some code to use them rather than entering via TWS. I suggest asking the IB support people what is possible.

 

[LifeMirage]

For the first question, yes as the order is held on their systems until cancelled (or until a specific date/time if it was a Good-till-Date/Time order, or until another order in the group is executed if it is a One-Cancels-All order).

For the second question the TWS API does have various trailing stop order types but I have never used them. You would probably have to write some code to use them rather than entering via TWS. I suggest asking the IB support people what is possible.

Thanks a lot for your answer ...
So in summary, if I put a stop order GTC, works even when the TWS is closed or when the PC is off, right? This point is very important for me!
For the second question, I thought about using this software:
http://www.bracket-trader.com
Does anyone know him? Any suggestions? Thanks again...

 

[gc1]

... if I put a stop order GTC, works even when the TWS is closed or when the PC is off, right?...

Yes, but please ask IB customer support so that you have a definitive answer.