Entering Trailing Limit Orders

A trailing limit order tracks the market automatically adjusting its price level position in the exchange’s order book.

For a buy order, as the best bid/offer/trade (depending on the smart order type settings) moves up, your order moves up with it based on the trailing offset. When the best bid/trade/offer trade moves down, your order holds. When the best bid/offer/trade matches your order price, the order executes.

For a sell order, as the best bid/offer/trade moves down, your order moves down with it.

For example, suppose a market bid is at 1433.00. You place a trailing limit bid at 1432.00, a trailing offset of 100. If the market bid moves up to 1434.50, then your order moves to 1433.50, always keeping a trailing offset of 100 when the bid is moving up. As the bid comes down, your order stays put. So, if the bid comes down to 1434.00, your order stays at 1433.50. If the bid comes down to 1433.50, your order is executed.  

The goal is that the bid is at the front of the order queue automatically due to the speed of the gateway managing the order.

Must be enabled for symbol and account.

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To place trailing limit orders