For me, trailing stops help take some of the emotion out of trading. I am trying to learn and adapt to my best trading habits and at the moment, trailing stops have provided profits and limited losses several times.
My question has two components, do you know how to set a trailing stop order to capture profits if the stock turns to minimize losses, WHILE and most importantly, setting a limit order to sell at a target price for the most profit?
Does your broker offer these options?
Thanks for your help and any insight.
I use OptionsXpress. They do have trailing stops but have never used them (I'm still a noob).
I am trying to convince myself to use OX, just moved money over, but they cannot do both orders simultaneously. I just confirmed E-trade and Thinkorswim can… Hate to pay to move my money again.
I joined Interactive Brokers only to find they didn't allow international clients to buy USD. They cost me about $500. Thats life man. I worked out all the times I've been ripped off by friends, family, work mates and others: About $8000. If you can easily make the money back i'd say do it but you can't short under $5 at OX.
Well that sucks to hear… Hopefully that will be the end of that for you.
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