creating bracket trades with IB

Discussion in 'Interactive Brokers' started by Jayford, Jan 7, 2003.

  1. Andre


    Steve, in your example you're saying that you specify the two selling levels, one for profit, one for stop loss when you place the initial buy?

    #11     Apr 8, 2003
  2. Steve_IB

    Steve_IB Interactive Brokers

    Andre - for a bracket order that is correct. You are effectively placing 3 orders at once. One to initiate a position, and two orders (OCA'ed) to close the position. The 2 sells are sent conditional on the buy order being filled.

    IF you already have a long position, then all you need to do is send in a sell stop order (cut loss) and sell limit order (profit taking) and link them via OCA.
    #12     Apr 8, 2003
  3. range


    Steve and Def,

    Is there a way of automating placing a buy limit X cents below the market and a sell limit X cents above. If so, can you get it to automatically adjust to the changing last print?
    #13     Apr 8, 2003
  4. Steve_IB

    Steve_IB Interactive Brokers

    Yes you can do this via the hotkeys.
    Go to on Buy.. Create Shortcut
    A window will then pop-up - click Customise.
    You can now select an order type, in this case, Limit, and specify a value and an offset.
    e.g Limit at Last Price - 1;
    Go back to Shortcuts and specify the key.
    Now everytime you hit that key it will automatically set-up an order to buy at limit price of last -1
    #14     Apr 8, 2003