Hi everyone. I know it is popular among traders on this platform to insert trailing stop using MFE or the one posted by Nicolas.However, the above-mentioned type of trailing stop are executed on bar-close basis.
My question is: Up to now, is there a functional & global %trailing stop which calculates on everytick that I can adopt on live trading?
I know MTF maybe a solution to this by recording the high of each bar under smaller TF but as it is still at its beta stage, I do not want to risk my money on it.
Cheers.
From this morning MTF is officially released for all IG accounts worldwide.
So it’s no more being beta tested.
You can still use pending orders to exit whenever a price level of your choice is hit.
The SET STOP TRAILING instruction type are independent from code once the trailing is attached to orders. It is controlled by the broker, so they move with price in real time.
The problems is that you can’t change the step (but this instruction is subject to evolve though) and that trailing stop is not allowed on limited risk account anymore.
Thank you robertogozzi and Nicolas.
I am still a bit confused. In conclusion, you are meaning that SET STOP TRAILING is still not yet available on ProOrder? (FYI my account is not ‘limited risk’)
If the above statement is true, then the easiest way to mic mick SET STOP TRAILING using MTF right?
SET STOP TRAILING is available, since …. years!
I was just saying that once you have activated it in the code, then you can’t stop it, because the trailing stop is attached to the order(s) and fully controlled by the broker.
Thanks Nicolas, I see your point, but it seems there is no bulit-in trailing stop order on ig CFD account (that means i cannot submit a trailing stop order manually).
If so how could the TS be attached to the broker? Maybe I will check out other posted strategies to see they have similar coding.
it seems there is no bulit-in trailing stop order on ig CFD account (that means i cannot submit a trailing stop order manually)
Sorry but how did you conclude of that? “manually” with manual orders or automatic ones?
Hi Nicolas, I just checked instructions on IG.com and please find attached screenshot for reference.
For example, if my strategy has a coding:
SET STOP TRAILING 50
then it means once i open my position, the order is attached with “50pts stop trailing ” with “0pt trailing step “? And according to what your have said, trailing stop of 50pts cannot be changed, am I correct?
No. Trailing step is by default the distance to stop of the instrument which is determined by the broker. So it is not possible to have a value inferior or superior to it.
In the future, the TRAILING STOP instruction will have a setting to change this step (to a superior value, in case you want it to behaves differently from what the broker impose us).
(no screenshot in your post).
