Echo trade's trailing stops

Discussion in 'Prop Firms' started by huby, Jun 12, 2001.

  1. huby


    I know Echo trade is one of the few brokers which offers trailing stops. Does anyone know if you can set up different stops for the same trade. Ie: Buy 200 shares, set a trailing stop of .50 point on 100 shares and 1.0 stop on the remaining 100 shares? Sure wish IB offered trailing stops. If they don't by the time I have my series 7 I think I may make the switch to echo.
  2. I do it constantly.

    I'll set a trailing stop for one portion of my position at .10 and another portion at .80 of my position.

    The stops are set on their severs and not your computer or NYSE.

    They go by best inside bid/ask. Which can be an advantage or disadvantage. I got filled on a stop order on Friday because a trader canceled his bid. The bid had no support and dropped 2 points on my stock. I tried to cancel it but too late got filled. Had I been long that stock I would have made 8 points that day.