Discussion in 'Trading Software' started by Hambone, Jan 22, 2003.
I've heard this, but I've also heard its a nightmare to get working.
i lov e bracket trader but i agree that it was a nightmare to get working..... but i am a computer dummy.... could never get esignal to work tight for me
I had no problems, i can really recommend it.
With option #1 and possibly others, you can then change the original limit entry order to a stop limit if you wish. This has to be done after you attach your auto stop to your limit order. You would pull up the order ticket for the limit order and change it to a stop limit.
I love that feature.
You have to be careful doing this. When the order changes from a limit to a stop, the outside stop and limit orders become active. If the market hits one of the outside orders before hitting the 'trigger' order, the outside order will be filled, and the other outside order cancelled, with the 'trigger' order still active.
I just had a position that would have been nice to use bracket trading on, since I wasn't able to watch it like I perfer. Is there an extra charge to use it? Or is it still a penny per share to 500, etc.?
I know IB is slammed for their customer support
They've been fine every time I've contacted them.
There is no extra charge for using bracket orders.
My only gripe with them is they don't yet support a bracket order based on a stop-limit order, only stop orders.
I think you have misunderstood. I was talking about option #1. Attaching an exit stop to a limit entry. In my example, I attached an exit stop to a stop limit entry. When the stop limit order fills, the exit stop is placed for you. There is no limit order. The orders are directly tied to each other according to my contact at IB. If the entry order does not fill, the exit order is inactive.
Place an IB limit order with bracket orders. Then go back and change the entry order to stop-limit and enter the stop price.
A little hokey but seems to work.
From what I hear, it won't be hokey in the future. This is just a temporary work around according to IB.
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