Conditional orders

Discussion in 'Trading' started by john7722, Jan 26, 2022.

  1. john7722

    john7722

    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 .
     
  2. lindq

    lindq

    The answer is no. IB permits only 3 conditions, and will not run calculations as you described.
     
  3. 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.
     
    jtrader33 likes this.