IBRK mentor.

[Nat]

Hi guys, I’m new to the stock market and building a small portfolio for my kids futures, as the monies I’ve been saving in their accounts since they were born are a joke in the bank. It will also be very educational for them hopfully. Is there anyone floating around that uses IBRK that could explain how too place a Trailing Stop Loss on a stock.

If there is and your near the top of the east coast South Island theres a feed of crayfish or butter fish in it 😉

[Snow Leopard]

They have all sorts of resources to explain this sort of thing:
https://www1.interactivebrokers.com/en/index.php?f=606

[peat]

Hi guys, I’m new to the stock market and building a small portfolio for my kids futures, as the monies I’ve been saving in their accounts since they were born are a joke in the bank.

Just to say, money in a reputable trading bank is not a joke. It is safe.

[Snow Leopard]

https://assets.amuniversal.com/bd1abb203caa013943b4005056a9545d
Pearls Before Swine 28-Jan-2021 (https://www.gocomics.com/pearlsbeforeswine/2021/01/28)

But enough of my troubles...

What makes you think that Trailing Stop Loss is a good idea?

I am not sure I would recommend it to anyone , let a lone a 'newbie', who is building a long term portfolio.

[Nat]

Thanks for you advise people. I ran some trials on minimal shares and works fine. Snow ,I are often away in the mountains guiding clients up to a week at a time so a Trail Stop is a safety net till I get back in coverage. Maybe would have been handy for NOK the last couple of days as well. Again thanks.

[Nat]

Yes , and sitting on the sideline can be a handy thing at times but the interest rates the bank is offering are not in favour of much at all other than security as you say.

[iceman]

Thanks for you advise people. I ran some trials on minimal shares and works fine. Snow ,I are often away in the mountains guiding clients up to a week at a time so a Trail Stop is a safety net till I get back in coverage. Maybe would have been handy for NOK the last couple of days as well. Again thanks.

I'm in the same type of situation workwise with internet access, but have never seriously considered trailing stops. Mostly invest in companies that I'm happy to hold long term and that allow me to sleep well despite no internet for a few days or weeks.