Unless specifically modified, the default trigger method for all stocks is the "Last" method as described within the User's Guide. For US options the default trigger method is the "Double bid/ask" method, where two consecutive ask price (bid price) values must be less than (greater than) or equal to the trigger price, and the second bid or ask must have greater size if it is at the same price level as the first bid or ask. For Forex cash pairs (for example EUR/USD currency pair), the default trigger method is single "bid/ask", where the ask price (bid price) value must be less than (greater than) or equal to the trigger price. For all other contracts like Futures and Futures Options contracts the default trigger method is the "Last" method as described within the User's Guide. Find information on the different stop trigger methods in the TWS Users’ Guide.
You can modify the trigger method for Stop, Stop Limit, Trailing Stop and Trailing Stop Limit orders on a per-order basis using the Order Ticket. You can also set the default trigger method for a strategy using the Trigger Method drop-down in the Miscellaneous section of the order Preset.
Please note that the trigger method set in TWS applies only to Stop orders that are simulated by IBKR, and may be ignored if the order is handled natively by the exchange. For more clarification on Native vs. Simulated triggers, please see the Stop Orders order page.
To change the default Trigger Method:
- On the Edit menu, select Global Configuration
- In the left pane, select Presets
- In the Trigger Method drop-down list, select the preferred trigger method that will be used for all orders affected by the preset.
To modify the stop trigger method for the current order:
- Display the Trigger Method field on the trading window
- Highlight a stop, stop-limit, trailing stop or trailing stop limit order and select a method from the Trigger Method field.
Please Note
- Certain types of transactions, i.e. odd lot trades, FINRA trades, etc will not be counted as a "LAST" when triggering a stop order.
- It is currently not possible to configure Stop Trigger Methods in IBKR Mobile. The default trigger method applies to mobile trades.