Bracket order in IBs TWS with a % Risk profit/loss calculator

Discussion in 'Order Execution' started by AlfaGiuliettaMan, Sep 13, 2020.

  1. Hi,

    I did some paper trading in Tradingview.com and I loved the bracket order panel that gave you estimates of the USD value and % values of the Stop Loss and Profit taking orders. I like that. Is there a way to do that in IB TWS? Now I have to calculate it manually and placing an order takes too long (slow brain) or I make mistakes.
     
    easymon1 likes this.
  2. Not "TWS out of the box" that I am aware of. IB-TWS tends to give you just the basic tools, partially integrated with other tools. I think they leave the more second level stuff, like you describe, to people using the API. In the API it would be straightforward.

    Of course you can always submit a feature request. They might be more attentive to the retail traders these days. At some point, they will probably give all the old tools a BUFF, but of course they will break a lot of stuff since it is a lot of legacy code, so it will take a bit more time to develop and stabilize.

    Lastly, you could probably do something in Excel that hooks into TWS and does the calculations for you, on the fly, MAYBE.
     
    AlfaGiuliettaMan likes this.
  3. easymon1

    easymon1

    How much time we lookin' at here?
     
  4. Lol, I not on the development team, but you give me 4 days with the bug database, the proposed feature with Dev estimates and I could tell you. Usually a good rule of thumb is Time to code x 2 or in the case of badly embedded legacy code x 3 to never. It really depends upon the code base, and the team.
     
  5. xandman

    xandman

    Just set the percentage figure once at the beginning of the day and stick with it.

    The difference won't produce a big variance in your returns unless you are grossly undercapitalized or trading way too much size.
     
  6. I am afraid I am not following here with setting that percentage figure. Could you elaborate?