Execute order at a specific time

Discussion in 'Order Execution' started by cunparis, Jun 20, 2008.

  1. Is it possible to specify an order to execute at a specific time? I like to close out at the end of day but I don't want to wait until 4pm because there are often reversals. I'd like to close out at 3:45. Is it possible?

    I'm using IB.
  2. Yes. It is possible.

    The order type is TIME IN FORCE.
  3. dadog


    Good After Time, I use it all the time :)

    Happy Trading
  4. Yes, you are right, it is Good After Time. Did not use it for some time..................
  5. I think all orders have a time in force tag, such as DAY, GTC (good till cancelled), EXT (extended trading), etc. and that time in force itself is not an order type.
  6. The TIME IN FORCE order just means that the order will be submitted at the specified time, not that it will be executed. The order is still either Day or GTC, market or limit.
  7. I tested out the Good After Time feature of IB. It's hard to know all this stuff exists because IB hides them and you have to activate them (Good After Time, OCA, etc.)

    Anyway, I put in my orders 15 minutes before close and it worked perfectly. But the results were mixed, I got better prices on a few stocks compared to the close, and on a few other the close was better.

    I'm going to keep studying it to see when is the best time to close out. I want to avoid the daytrader rush for the exits at close. ;)

    thank you everyone and may your orders fill at the time you wish. ;)