Hello, Could you help me to modify my orders ? I do little bit of trading and I use a stop loss but I often miss out on the uptrend. Let say : You bought ABC for $10 ABC trading at $9.8 Now you set an order with these 4 conditions SELL orders 1. IF ABC drops below $9.5 then sell 2. IF ABC reaches $10.30 then trigger a STP LOSS ORDER at $10.20 3. IF ABC reaches $10.30 + 0.5% THEN move STP LOSS ORDER UP which is set at CURRENT PRICE MINUS 1% 4. IF we reach a new high again which would be ( $10.30+0.5% + 0.5%) then set a new STP LOSS at a current price minus 1% and so on .. Every time we reach a new high which is I set to current price + 0.5% we would also move up STP LOSS order automatically to a current price minus 1% Is it possible to do that automatically ? I currently use IB I can't program but I have someone who can if necessary. Thank you .
You can do this with the IB API. To avoid programming I suggest you look at something like Alera Portfolio Manager (I use this software, I'm not affiliated with them). https://aleratrading.com/ There's a free version that works with your paper trading account.