Trailing Limit if Touched

[Spiderbird]

Hi all,

Interactive Brokers has a feature I use often called "Trailing Limit if Touched" and "Trailing Market if Touched". The details are here:

http://www.interactivebrokers.com/en/trading/orders/trailingLimitTouched.php

http://www.interactivebrokers.com/en/trading/orders/trailingMarketTouched.php

Working with Ninjascript, I know that there are methods for trailing stops, but not for trailing buys as indicated above.

Another forum thread has suggested to put a stoplimitorder in, and just keep on adjusting the stops OnBarUpdate.

Is this the workaround for this, or is there another way to achieve a trailing buy order?

Yours,
Spider

[NinjaTrader_Bertrand]

Hi Spider, correct you would need to monitor current price and adjust your entry as needed to provide the trailing part.

[Spiderbird]

Hi Bertrand,

Would you recommend particular forum threads or help files to read up on in order to achieve a "Trailing Limit When Touched" order? I have a couple in mind, but would really like to get your direction.

Thanks in advance for your time,
Spider

[NinjaTrader_RyanM1]

Hi Spiderbird,

This reference sample is good for this. It can help with technique to check last traded price compared to entry price and then dynamically adjusts the price of an order.

http://www.ninjatrader.com/support/forum/showthread.php?t=3222

[Spiderbird]

Thanks Ryan! Didn't get a chance to reply back quickly, but appreciate the assistance.

- Spider