Question on Trailing Stop Conditional Order

[Doug Hayman]

I primarily trade MES via IB for day trading using the DOM.

I have been using OTOCA Limit orders for buy/sell entries with pre-defined Limit and Stop Limits.  This has been working well.

Ideally, I would like to have my Stop Limit Price automatically trail the current market price High (or Low for Shorts) by the "Bracket Low Pts" defined in my MT Settings for Future price settings.  In other words, trail by points.

You have a Conditional T-Stop$ order type that I assumed would handle this. 

1) Question:  Is this order type intended to do what I want it to do?  If not, is there a way to do this in MT in conjunction with IB?

2) Comments:

a) When I try to execute an OTOCA/T-Stop$ order on the Buy Side with MES, the DOM price shoots up to 4,700 (when market is at 3,400+).  This seems to happen only when my Limit Buy price is close to the market price.   If I position it well below the current market price, the behavior is similar to (b) below;

b) When I try to do the same on the Sell Side with MES, my order is passed to IB, but only Limit and Stop Limit prices appear on DOM.  The actual Limit price for the order does not display on the DOM, but is passed along to IB Ok.

[Jerry Medved]

it sounds like you want the OTOCA with the stop on the OCA being a Trailing stop.  I woiuld have to see what the default for that is. As for the other stuff, that is odd. will check

[Doug Hayman]

Yes Jerry, that's what I would want. 

I've tried a myriad of combinations of things to try and achieve, including changing the Stop Limit Reverse side to be to be a T-Stop$ leg, but it only lets me add Positive (and not negative values).  Doesn't seem that IB accepts the order in that case anyway, as I get an IB error when trying to submit.

As an aside, in above example, Buy side Stop value is in the wrong direction, whereas Sell side Stop value is correct.  That is the case for some of the other conditional types, so you may want to review them.  OTOCA reverse leg values all seem to be in correct order, as that's the one I use currently.

Thanks for looking into this.

[Doug Hayman]

Jerry,

In regard to the above, I open a Trade Ticket for a conditional OTOCA order where my Reverse actions are a "T-Stop $" and "Limit", and on both the Buy and Sell sides, it works perfectly, using my bracket High (for Limit) and Low settings (for Trailing Stop), where values are defined in my Futures account setup.

However, for the same trade on the DOM, it doesn't work correctly on either the Buy or Sell Sides.  Definitely a DOM issue here.

Thanks in advance for looking into it further.

[Jerry Medved]

recreated.

[Doug Hayman]

Great.  Do you have a rough ETA on fix?  Thanks.

[Jerry Medved]

did some more testing - have  a bit more fixin to do