Creating Trailing Stop Orders on thinkorswim® desktop

In this video, we'll demonstrate three ways to create a trailing stop order on the thinkorswim® desktop platform: by using a dollar and a percentage. Also, we'll demonstrate how to set up a trailing stop limit order and discuss the differences and considerations when doing so.

0:00 Introduction
0:30 Creating a trailing stop using a dollar offset
4:50 Creating a trailing stop using a percentage offset
6:25 Creating a trailing stop limit order using a dollar offset
9:35 Pros and cons of trailing stop order types

(0223-2GZM)

[alabamaflip]

Finally, someone that know what he is talking about and how to explain it. Great video! Thumbs Up!

[finiteloops]

This is the third thinkorswim trailing stop video I've tried, and it's easily the best!

[NotWithinNormalLimits]

Awesome explanation. If I had used trailing stops months ago, I would have saved myself thousands in profit.

[journey-]

Please add to this video that if the difference between the bid and ask (mark) is greater than the 5% trail, the order will reject. I finally changed it to last and it worked.

[timetorelaxfocus]

Nice explanation, thanks! (I am favoring the percentage so it scales per type of stock size). I have to test this stuff in the simulator.

[charlescharles]

Great content. I assume these stops work the same for options trading. In fact, I would love to see a trailing stop & trailing stop limit order demo for vertical credit spread orders.

[TheMarianaMontes]

Hello, hank you very much for this amazing video!!! I understood a lot.. I have a question.. In the mobile app for ISO Where can´t see TrailStopLimit ? I can´t see it, why?¡ can you please help me to configurate, in orden to see it. thank you very much, .

[jherc]

Very informative...thanks. Cheers, J

[gautamsain]

Great video. is there a video to do this on the mobile ToS ?

[Fheich]

What does the ladder symbol mean on the trailing stop

[ericsfo]

Do these type of orders go into the market or held in TOS servers until triggered?
My understanding is conditional orders are held outside the market until triggered so wondering if these are the same

[trading-doug]

Could there be a specific order type that triggers a trailing stop order once it hits my desired selling price?

[Mrs_Amankwah]

I can't even see "with STOP" or "with OCO Bracket" when selecting create closing order. My current options level is moderate risk, I'm using the desktop version and I'm trying to practice this on OnDemand first. What could be the reason?

[paulhuang]

What is the little staircase option? When you were changing from dollar to %.

[upnorthyooper]

Can you put a trailing stop order on charles schwab desktop?

[fbmbassist]

Are trailing stop *limit* orders allowed for closing an *options* call? I only see "trailing stop" in the drop down menu.

[CarlosSab]

Looking for a recommendation for day trading Penny Stock. Which limit order would you guys prefer the most. I Screwed UP BAD and did not put a Limit and the Stock LOW and now I am $1001 under. YTEN at .2200 now but I bought stocks at different prices above that. I am trying to take profit as the price goes up and down unless anybody else has a suggestion

[greenrxp]

So these will not work to the upside on a position am I understanding that correctly?

[tatsumakamise]

Can you show us, (e.g.: MSFT) while assuming the current price is 435.30, how to place an order to A) buy at 435.00, B) stop profit at 440.00, C) stop loss at 433.00? Thanks,

[cardonerobert]

Wow! Coming off of SSE this way of ordering is cumbersom and ridiculously impossible to use when you trade in a quick market. By the time 1) you find the page and navigate 2) then figure out how to set the order up (especially the stop) you will either be losing when it dumps or if it jumps!!! The simplicity of SSE was excellent. Place your long or short and BOOM! Done. The best thing in SSE had/has is the ability to slide your stop split second-wise, up or down. With total correction instantly...did I mention it's instantly? Also, someone want to tell me where I can follow the Day change in % and price? I'm not loving this folks. Sure TOS is incredible but from what I see it's also very bloated. Make it better, don't make trading any harder than it already is, please?