Dear- As a beginner, I am learning how to use API for easy order. I wonder if this is possble in IB, manually or API-wise. During 9:30 and 4:00, I like to work without seeing screen except Lunch time. 1) Can I order one day before, like 6PM, for next day order? 2) If so, how many? for example up to 200 piece of order? 3) I like to sell 100 MSFT at $31, if I buy 100 MSFT at $28 next day. / contingent? It does NOT mean that I like to short entry at $31. -Jay
Anything is possible with the API but you need to be a good programmer or commission a programmer to develop to your needs. I'm not volunteering, but have extensive experience. My specialty these days is in Forex, and it sounds like you are an equities trader, or maybe you're open to trading anything. If you wish to have training on IB API then contact me. Such an investment in your skills will pay off in the months and years to come as a trader. Throughout my trading career I've had an edge because not only could I come up with trading ideas, but was able to code them up, test and implement my own ideas. Take the plunge, and then you'll be self-sufficient, my friend If you live outside of the U.S. there may be alternatives much better suited, but Interactive Brokers is always a safe choice with lots of product choices. My own semi-automated trading is exclusively in Forex. HyperScalper
Hyper, I also trade forex at ib. Where would I go to get started programing and automating my forex strategy? What language would I use? If I treated it as a serious hobby, how long do you estimate it would take for a beginner working hard at it to actually automate a simple strategy? btw, what does API stand for?
You can PM me. But IB uses a Java API (Application Programming Interface) originally, but there's a lot of pressure to use C# which is a rip-off of Java through Microsoft Visual Studio. There's an available C# API... various possibilities. But we're talking here about real programming. Knowledge of threads, concurrency and things you may not be familiar with. That's why you should pay someone to teach you how, and at the same time to implement an interface to meet your needs so you get some "knowledge transfer" and become self-sufficient to some extent. You can implement something with a User Interface with buttons on it to facilitate precisely what you want, or... there is a wide range of platforms which support the IB API you can PM me to discuss further. My work with IB was a couple of years ago, but it's pretty basic stuff, that is, if you're a hard core programmer If you live outside the U.S.A. then there are better alternatives for automation or semi-automation than Interactive Brokers, specifically in the Forex domain. But Interactive Brokers offers a wide range of trading products, not just Forex, so it's a matter of what you want. As a beginner, you may be open to whatever "makes money" I can tell you that even when you become a Professional you'll be wide open to "whatever makes money" LOL HyperScalper
Hyper, thanks for the info. What those of us that are not hardcore programmers probably need is some kind of template that allows me to start with something simple like, "if this thing happens I want to buy. If another thing happens I want to sell. I want to add, subtract, get flat, start a new trade, etc. I can get close with some of the more esoteric options in TWS, like contingent orders, but it never really is exactly what I want it to do, and doesn't have the brains to simply get flat if things get too good. In otherwords, none of those orders can make decisions based on what another pair might be doing. I appreciate the reply. Sounds like learning to program the hardcore way is probably over my head without a human teacher.
So invest in a "human" teacher. But base the work on a project you want to achieve, starting with something simple. Yes, "reactive triggering" is when you "react" to something you see, and then typically place an order or whatever. Computers are ideal for that. Also, it is very easy and cost-effective to get a server, even a Windows Server which can run your software 24 hours per day and if you get into that game, then over the next few months you'll be on your way to semi-pro status Most beginning, and even pro traders don't really appreciate "cloud computing" options like this, as much as they could. You don't want to run serious stuff on your home computer and crappy network, with limited backup power, etc., now do you ? HyperScalper
nope, the whole thing has to be trading while I am at the computer store replacing my trashed computer, or sitting looking out the window waiting for FedEx to deliver my new one, trying to figure out what is going on by watching cnbc. Although most of us that have stops in would make more money if our computer did crap out for a few days, because there would be nobody there to take a profit.