Does IB TWS support this order type for NQ?

Discussion in 'Professional Trading' started by dabao91, Mar 2, 2008.

  1. dabao91

    dabao91

    Does IB TWS support this order type for NQ?

    I understand that you can use IB TWS GAT (Good After Time) order type to specify a market or limit order to be executed at a specific time.

    For example, you can use GAT order type to buy NQ market at 8:30 AM (to simulate QQQQ market open order).

    Or, you can also use GAT order type to buy NQ limit at 8:30 AM (to simulate QQQQ limit order).

    QUESTION: I like to pre-place an order (similar to GAT) BEFORE 8:30 AM in such that it will check NQ price at 8:30 AM first, and it will base on such price (and plus/minus a pre-set offset value) to set a LIMIT order, can this be done?

    For example, at 8:00AM (before 8:30AM), I place such special LIMIT BUY order for NQ with an “offset” value of 10 relative to the 8:30 AM price.

    At 8:30 AM, assuming NQ price is 1800, so such order will automatically be come a LIMIT BUY order at price of 1800 - 10 = 1790.

    I understand that it is possible to use API to implement it. But I am looking for a way to just use TWS order type.

    Does IB TWS support above order type?