I Luv Tws!!

Discussion in 'Order Execution' started by bungrider, Dec 20, 2002.

  1. I was perusing the ratings of brokers and their platforms yesterday, and it made me glad to have TWS...

    Great job, IB. I don't think TWS has ever crashed on me, and the constant improvements being made over the past 6 months have really made a Honda Accord into a BMW.

    Again, great job. The TWS is the bomb!
     
  2. The api is wicked too.. I rolled my first c# app (ever)-- a simple quote streamer, in about an hour with their api.
     
  3. TWS + BRACKET TRADER = TRADING PLEASURE. THANKS IB and "PRETZEL"
     
  4. SPEAKING OF WHICH...

    if brackettrader could add a discretionary order function to TWS (see http://www.elitetrader.com/vb/showthread.php?s=&threadid=11330 ) - I would become a bracket trader customer.

    (All I'm looking for is basically the opposite of a stop order - instead of selling when a low is reached, your buy order would be triggered when that low is reached, and vice versa, when a high is reached, your sell order gets activated - fancy execution platforms have this, but TWS does not have it yet- so you can automatically take any offer below a certain price level, without having to wait for the offer to appear and then having to react to it and beat other traders to the punch).

    Thanks!
     
  5. Couldn't you just do this with limit orders? I guess if you wanted a definite fill you would have to have a market order though wouldn't you.
     
  6. Take a look at Trader.NET written in C# as well.
     
  7. Sanjuro

    Sanjuro

    I just installed Bracket Trader.
    I also installed the 'InstallAX'.
    When I run it, it comes up and then an error popup comes up.
    'Run Time Error 6 - Overflow'
    Then The MS error about sending a bug report comes up.
    This is on a Windows XP machine.

    Anybody have any ideas on how to fix this?
     
  8. Maybe we can implement discretionary order for you, do you want to have market order or limit order @bid/ask or limit order with offset @bid/ask sent to TWS?

    What's the exact trigger method? Buy when bid <= price, sell when >= price or something else?
     
  9. Kinda...it would be more like Buy when Offer <= price, and sell when bid >= price. Bloomberg machines have this capability. I do believe they call it discretionary, but I (obviously) don't have one, so who knows...?

    Say XYZ is trading at 20.50x20.55.

    I want to buy it around 20, because I think there is support at 20. However, everyone else is probably thinking the same thing I am, so if any offers come down to less than 20.05, I am going to be racing everyone else to get those shares offered at that price.

    So let's say XYZ comes down there, and there is an offer of 20.04. I can try to take that offer, but again - everyone else is thinking the same thing, so I only have a few seconds to lift that offer, and usually someone beats me to it.

    What I would rather have in that situation is a preset discretionary order that will automatically take any offers under 20.05, so when that 20.04 offer comes down, my buy order will go live and send a buy limit at 20.04 to the TWS.

    Now what I could do instead is put in a bid for 20.04 ahead of time, but frankly, I am tired of pikers seeing my bid and stepping in front of me at 20.041 on ISLD, etc. Why the f^ck should I spend my time thinking about where support should be so some yutz can step in front of me and get the shares that I want at the price that I've set???

    Basically, I want to be able to have a limit order that only gets activated when a certain price is reached - kinda like a STOP LOSS order, only the exact opposite - a STOP ENTER order.

    Lemme know if I'm not communcating this clearly.

    Thx!
    -b
     
  10. Bungrider--

    If you asked around on the IB message boards, I'm sure someone would take a contract to write this for you. Despite some of the really stupid questions, there are talented developers writing apps for tws..

    The mechanics of that kind of order are not hard with the tws api, but the interface you want, etc, might take some time. Anyway, ask around. I'm sure you could get it done for 1k or less.

    regards,
    laz
     
    #10     Dec 21, 2002