buying power issue

Discussion in 'Trading' started by privador81, Jan 31, 2011.

  1. My problem is next.
    I have 25k balance and 100k buying power.
    My strategy is putting up many orders premarket.
    I use TOS and i can place only orders for 100k
    Unfortunately there is mayby only fills for 10k and i cant effectivly use my bp.

    I heard from fellow that IB allows to place unlimited orders. If there are some fills, the other orders are canceled automatically. That was to me big suprise.

    Is it true? If so i replace my broker to ib in speed of light
  2. I have a better idea. do not use your 100K intraday buying power.
  3. It's true, it's called One Cancels All or OCA. There is an option somewhere that IB will guarantee not to fill more than the value of one position. You will want to make sure you check this. I missed it and was once filled in several orders simultaneously, until I ran out of buying power.

    I would think TOS would have something comparable. You may want to check with them before switching.
  4. Thx. It was very helpful post
  5. Or trade prop and not have to worry about buying power :D

  6. Unfortunately TOS dont have such feature...
    BIG loss for active traders