IBKR - Buy if stock increases over 5% within 2 hours - Order Type?


Maybe simple question, what Order Type in IBKR do I need to set if I want to buy a stock if it increases over 5% within 2 hours. The order should last for a week?


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There’s one that logs you out of your account because you shouldn’t be trading like that :smile:


Surely someone will answer the practical side…

Some questions out of interest:

How did you develop the strategy?
Is there data supporting it?
Is this a one time thing? If not, how will you select the company/ies you’re applying it to?
Would you ideally want to place a buy order covering any company existing or a selection only?
What’s your selling strategy?

Definitely not for Value Investing, I would have used it for things like “GameStop to the Moon” to see if the crowd reacts on trends. Also for FX and Altcoins this could be interesting.

See Conditional Orders | Interactive Brokers LLC

Not sure whether you can express “within 2 hours”, but there are examples like “when SPY increases 5%”.

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Otherwise you can use the API and write your own algorithms externally.

OP should consider what will happen if the price shoots past +5% without stopping

e.g. stock opens +10% vs. prior day close

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A good example might be the recent GME mania. When you’re up 400% in 1 hour you’re also up 5% within 2 hours.

AFAIK Interactive Brokers offers buy trailing stop orders.

Exactly that. I can see similar happenings also if the FED / EZB / SNB decides on interest rate reductions for certain instruments and want to set Buy&Sell orders.

I’ll try the Trailing Stop Orders for that.

in the GME type example when a price rises very fast to 400%, there might not be much volume at 5%, so consider the risk your stop order might execute at 400%…