Hi! I was reading quite a lot in the Internet, however I have not found an answer yet for a certain order type for Interactive Brokers. I hope somebody can help me here. Here an example to better describe the problem: Let’s assume I buy a stock @ $ 100.00 and I expect it to rise 2%. As soon as the price of $ 102.00 is reached, I want a trailing order to start trailing up with a defined rate (e.g. $ 0.50). So if the stock price rises up to $ 103.00 and then falls back to $ 102.50 I want it to fill. So the stock is sold at $ 102.50. So it is my wish to buy stocks in the morning of which I expect that the price rises to a certain percentage. After that the trailing shall begin. If the target price is not reached or the stock price is sinking, I will close the position in the evening. At the moment I am doing this manually, which is very time-consuming. Do you know if Interactive Brokers has a possibility for such an order? Thank you very much in advance! Greetings Rembrandt
You should have no problem creating a trailing stop as a conditional order. Set the trailing stop parameters as usual, then (TWS Classic) right-click on TYPE, and MODIFY>CONDITION. Set the condition based on price of your underlying symbol, which you need to enter as 2% above your entry. Thus, when your stock reaches 2% above entry, the trailing stop will engage.
Hi lindq! thank you very much for your quick response. This seems to be a very good idea. However, when I tried it this error occured: so it seems IB is not accepting any conditions for trail orders....