Does anyone know of a broker that offers "If Touched" market and limit orders for a micro account?
This is why it's necessary: Suppose you have a SL of 100 pips but want to move to BE when in profit at 50 pips. Unless I'm mistaken, the only way to do this without being in front of the computer (which I am not most of the time - I trade daily charts) is to place a limit order for BE when the market "touches" the 50 pip profit level.
I see no other way of automatically moving your SL unless you have "If Touched" order types. Trailing stops don't work because, taking the above example, you would need a trail of 50 pips which means you wouldn't have an initial SL of 100 pips but your SL would be 50 pips.
I know TradeStation has "If Touched" orders but they don't have micro accounts.
This is why it's necessary: Suppose you have a SL of 100 pips but want to move to BE when in profit at 50 pips. Unless I'm mistaken, the only way to do this without being in front of the computer (which I am not most of the time - I trade daily charts) is to place a limit order for BE when the market "touches" the 50 pip profit level.
I see no other way of automatically moving your SL unless you have "If Touched" order types. Trailing stops don't work because, taking the above example, you would need a trail of 50 pips which means you wouldn't have an initial SL of 100 pips but your SL would be 50 pips.
I know TradeStation has "If Touched" orders but they don't have micro accounts.