Trailing stop loss

[mech81]

Hi guys,

Beginner level sort of question.
I've been trading in the market for short while. During this time, I've been with online brokers CMC markets. I've just realised that their online trading platform does not have a trailing stop loss feature. Is this normal for online stockbrokers? Could someone recommend me a reliable good-value online stock broker that offers this feature? or is this feature only available for phone stockbrokers only? Thanks

 

[Gringotts Bank]

edit. Misunderstood your question.

Etrade does have true trailing stop losses, but they are expensive.

Other than that, you can re-set your conditional orders each day, using CMC.

 

[Gringotts Bank]

Bell also has them.

 

[pixel]

the new CMC Tracker software seems to offer a trailing stop; I use it for CFDs only and haven't looked into that option yet as I'm applying my own algorithms.
but if you could get the tracker, there may be no need to switch brokers.

 

[tech/a]

IB does.
I just log in before trading begins and set the days trails if they need altering.

 

[mech81]

Thanks for your replies!!

Could I ask how much do Bell or IB charge for their trailing stop loss? Is this feature available for stocks?

Cheers

 

[tech/a]

Thanks for your replies!!

Could I ask how much do Bell or IB charge for their trailing stop loss? Is this feature available for stocks?

Cheers

IB
Zero zip nadda

 

[tminus]

IB does.
I just log in before trading begins and set the days trails if they need altering.

Do you use them when trading index futures?

 

[tech/a]

Do you use them when trading index futures?

Sure do.

 

[stu192]

Bell also charge $0 for the SL

 

[tminus]

Sure do.

I am assuming then time frame for your trades are usually longer than half an hour.

 

[tech/a]

Varies
From a few minutes to a few hrs .
I move stops regularly.
Many times in a trade.
There is a feature in IB which allows me to move a price stop
In half or full ticks with the click of a mouse.
Handy
Trial it

 

[tminus]

Varies
I move stops regularly.
Many times in a trade.
There is a feature in IB which allows me to move a price stop

Yeah I use the book trader feature to move stops regularly. I haven't tried the trailing stop loss, because with SPI futures a change in price is $25, so I try to exit out once it approaches support/resistance and slows down as the reversals can be quick and sharp. I will try the trailing stop loss feature on a demo account.

Thanks

 

[bailx]

When investing, i find that using MA's can be good way to asses your stop loss points.Running of 21 D MA and using 50 D MA as a trend indicator. if the trend has broken down through to the 50 D MA support, tells me that the trends momentum has turned bearish and gives a good indication of stop loss.

 

[Steve C]

A noob question, but does commsec offer trailing stop losses free of charge? or do you need to manually adjust your stop loss daily to create your own trail?

 

[bailx]

A noob question, but does commsec offer trailing stop losses free of charge? or do you need to manually adjust your stop loss daily to create your own trail?

I don't know what commsec does, or why you would except a charge for something, that is imperative or the holy grail for successful trading and money management. Especially when dealing with day and swing trading. Very important that you know and understand trailing stops. e.g intraday trading on a minute chart, I wouldn't risk anymore than 2%. ( theory?)