Does IB support this order type?

Discussion in 'Retail Brokers' started by dabao91, Feb 10, 2008.

  1. dabao91

    dabao91

    Does IB support this order type?

    For future (NQ for example), does IB support an order type which allow you to specific WHEN such order should become market order? If yes, what is the name of order?

    For example, at 6:00AM, you enter an order to buy one NQ. But such order mush be executed EXACTLY at 8:30AM.

    Thanks.
     
  2. The API allows you to set a GoodAfterTime value for market orders and i use them all the time to execute market orders at specific times.

    If TWS does not allow this field to entered directly (cant see as it sunday and TWS wont start), im sure some third party frontends which use the API do.

    I prefer doing such things programatically as entering them manually risks human error.
     
  3. mss

    mss

  4. dabao91

    dabao91

    Thanks very much, Businessman and mss.
     
  5. maxpi

    maxpi

    If you can think about an order type for five seconds without your stomach churning, then IB supports it...
     
  6. I thought IB use to allow an order to be cancelled if another triggers but now I don't see this available for the order I currently have submitted. I currently have a sell limit order above the market and I want to put a stop order in but I don't see how I can configure the stop to cancel if my sell limit order is executed, or vice versa. Can anyone tell me what am I doing wrong?
     
  7. mss

    mss

    I assume that there is an easier way to do what you want but one way, I think, would be (1) to duplicate the sell limit order that is already on TWS but don't submit it; (2) prepare the corresponding stop order but don't submit it; (3) use the OCA coding that is described at http://individuals.interactivebrokers.com/php/webhelp/Making_Trades/Create_Order_Types/oca.htm;
    (4) cancel the currently existing sell limit order; and (5) submit the newly prepared orders.