FX Help

[ivot]

Hey all,

Does anyone one know of any FX brokers that accept contingency type orders? What I want to be able to do is this: enter a postion on a limit order and place a protective stop (nothing tricky about that part). Then once prices have moved x number of pips, I want my protective stop moved so it cuts my risk on the trade in half. I would probably have a profit target order in as well.

This seems like it should be pretty easy, but I'm with FXCM and they don't offer anything like this other then being able to do trailing stops which won't work. If anyone could give some suggestions I would appreciate it.

 

[Charlton]

Hey all,

Does anyone one know of any FX brokers that accept contingency type orders? What I want to be able to do is this: enter a postion on a limit order and place a protective stop (nothing tricky about that part). Then once prices have moved x number of pips, I want my protective stop moved so it cuts my risk on the trade in half. I would probably have a profit target order in as well.

This seems like it should be pretty easy, but I'm with FXCM and they don't offer anything like this other then being able to do trailing stops which won't work. If anyone could give some suggestions I would appreciate it.

ivot

Try Interactive Brokers trailing stop limit order, which is available for forex as well

http://www.interactivebrokers.com/en/trading/orders/trailingStopLimit.php?ib_entity=uk

Charlton

 

[ivot]

Thanks for the tip Charlton. Anyone have any other suggestions???

 

[peto]

http://www.buttontrader.com/index.asp ButtonTrader is a front-end to IB (mentioned by Charlton) which will enable you to enter your position with all the exit strategies you mention all with one click. A graphical representation of how your trade is going allows you to alter any one of the components with one further click.

 

[adheerp]

http://www.buttontrader.com/index.asp ButtonTrader is a front-end to IB (mentioned by Charlton) which will enable you to enter your position with all the exit strategies you mention all with one click. A graphical representation of how your trade is going allows you to alter any one of the components with one further click.

ButtonTrader should help you achieve that. They have a built-in trailing stop strategy "Ng Trail1" that should get you started.

But I believe ButtonTrader works only with InteractiveBrokers.

Just a disclaimer - I am a satisfied ButtonTrader customer.