Question regarding trail limit orders
By - everdreamz
Trailing 10% limit order? Please explain how that works.
What’s to explain? Trailing percent set to 10% with a defined limit offset.
Without specifying a stop price, it would cause the stop price to be at 10% below the fill price.
What I’m asking is what happens when I set both the stop price and the trailing percent on a trail limit order - is the trailing percent overwritten?
Do you mean trailing stop limit order? Because there is no such thing as a trailing limit order.
If you're asking if you could have a stop order at one price and a trailing stop limit at another price, I never tried that - I think you could, but you would need to specify an oco (order cancels order) otherwise, the second stop could fill, and you would reverse your position, and maybe that was not your intention.
As to the idea of a trailing limit order, that makes no sense as such an order would be an instant market order. I'm thinking you must mean stop limit?
Yea I meant trailing stop limit order, I was referring to it as “trail limit” because that’s how it appears on TWS, I guess as a shorter synonym