Lorenzo di Zenzo
Junior member
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Hi Everyone
It's been a while since I last traded, and I'm looking to get back into regular trading. Swing trading definitely suits me best, because I can make calm and objective decisions outside market hours. This means I don't have to be tied to my computer and can do my research thoroughly before entering a trade. Obviously managing orders, stops and targets is key to any successful trading strategy, and I see that technology has advanced considerably since I last traded.
Can anyone help with a trading platform which allows me to do the following:-
Short Trade
I need to enter an order to sell if the price falls below a certain level and at the same time a stop order if the price rises against me.
Long Trade
A Buy order if the price rises above a certain level, and a stop order.
Managing Open Trades
I would really appreciate a full explanation of how each order type operates -- it's pretty basic I know, but I haven't been able to find an idiot's guide!!
I see that IB offer a simulated trading facility with them if you open an account, and am considering trying that before making real trades; just to make sure I am entering and managing the orders properly. Has anyone tried this facility?
Cheers
L
It's been a while since I last traded, and I'm looking to get back into regular trading. Swing trading definitely suits me best, because I can make calm and objective decisions outside market hours. This means I don't have to be tied to my computer and can do my research thoroughly before entering a trade. Obviously managing orders, stops and targets is key to any successful trading strategy, and I see that technology has advanced considerably since I last traded.
Can anyone help with a trading platform which allows me to do the following:-
Short Trade
I need to enter an order to sell if the price falls below a certain level and at the same time a stop order if the price rises against me.
Long Trade
A Buy order if the price rises above a certain level, and a stop order.
Managing Open Trades
- - Leaving Good Till Canceled Stop orders on all positions and updating them each day. Any thoughts on the best time to update stops.
- - Is it possible to enter a target order? Eg in a Long position to close if the price reaches a certain level?
I would really appreciate a full explanation of how each order type operates -- it's pretty basic I know, but I haven't been able to find an idiot's guide!!
I see that IB offer a simulated trading facility with them if you open an account, and am considering trying that before making real trades; just to make sure I am entering and managing the orders properly. Has anyone tried this facility?
Cheers
L
