For instance, with IB a stop can be used to either exit or enter a position. It is a basic execution method that is built into many much less sophisticated platforms. I strongly suspect that there is either a reserve word or a strategy that handles this. It is merely the same as using a conventional trailing stop for exiting a position, but in reverse (for entering a position). 75 points less than simply placing the market order in the first place. In this example, the stock would be purchase at around. Then, the price bounced back (went up) by at least. Then the price fell more than 1 point so as to invoke the trailing stop (which is what I am hoping for). Thus, a typical scenario would be that the trailing stop buy instruction with parameters of 1 and. 25, then a market order would be generated when the price of the stock increased by. This is the price increase required to trigger a market order. The second parameter would be the stop price. It doesn't really matter what the offset references.įor example, if the first parameter is 1, then the trailing stop could go into effect when the price of the stock moves to 1 point lower than the closing price of the current bar. It could be a delta or offset from the current price (as of the time that the trailing buy stop instruction is executed) or it could be an offset from the close of the current bar. The first would be where the trailing stop is invoked.
What I am considering is a trailing buy stop that requires the entry of two parameters (inputs).
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