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I am trading stocks in Interactive Broker and crypto in Binance. One way to manage my risk is setting stop loss orders in my long positions. But there are times (particularly in crypto) when a ticker can drop down 5 - 8% in about an hour and rises back up. Is there any way or using any tool/platform so I can issue a stop loss order (or a market order at that moment) only when a ticker drop below X price for Y amount of time?

Thank you.

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  • What is a STP order?
    – Chris W. Rea
    Commented May 25 at 19:15
  • Stop loss order, I imagine. Usually those are market sell orders triggered by % drop or $ drop, but I'm not familiar with a time duration condition.
    – littleadv
    Commented May 25 at 23:25
  • @littleadv yes, that's right. Let me update the question on that. Thanks.
    – Jimmy Chu
    Commented May 25 at 23:48
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    Have you tried writing your own trading script with Interactive Brokers?
    – xuhdev
    Commented May 26 at 7:02
  • @xuhdev I haven't, but as I am researching on this subject, maybe I can try some basic scripting in tradingview.
    – Jimmy Chu
    Commented May 28 at 3:53

1 Answer 1

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Learning to code to write 1 script is quite an undertaking. Unless you plan to delve into algorithmic trading and writing your own bot, paying someone to create this should make more sense considering the simplicity of your requested function.

You can pretty easily find someone familiar with your platform to write that script on freelancer platforms like Fiverr or Upwork.

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