IB and scalping

Discussion in 'Retail Brokers' started by HomeGrown, Feb 21, 2003.

  1. I just opened an IB account and it seems like it would be impossible to scalp on this system.

    Please show me I'm wrong! I've used Redi, Tradecast, and Hammer in the past, but it seems to difficult to send orders and recognize which orders are live and completed (compared to what I am used to).

    If anyone can help.....I'm open to suggestions on setting up 1 stroke hotkeys, ways to see the time and sales and another ideas on getting an order to the exchange fast.

    I was looking at the market depth for the DAX and it seems like it is delayed compared to the level 1 quotes. For example, the level 1 bid and ask size will change, but the same quote in the market depth takes a few seconds to update. I've called IB and they claimed there shouldn't be a delay while rushing me off the phone.

    Thanks in advance
  2. Just getting it to the top
  3. miniTrdr


    youll probably want a 3rd party application. you can roll your own or find one (theres a couple out there). lvl2 on ACE updates around 1/second (at least on 10 year notes).

  4. ALICE


  5. ALICE


    Is BT bug free yet? Somone said it had bugs didn't they?
  6. miniTrdr


    havent used any of the 3rd party apps - i think the bugs where with fills rounded off

    i rolled my own to know what bugs are in it :)
  7. I'd suggest a third party for quotes. I'm not an IB user so don't quote me but I remember hearing that the quotes are snapshots taken evey 1/2 second or something like that...
  8. def

    def Interactive Brokers

    Quote update speed was upgraded months ago - thus that is not necessary.

    Scalping platform: you just need to get used to things as it is very easy and fast. With the hotkeys you can be in and out of an order in a second. You can have a position column, another window with your positions/accounts, etc. There also is a pending page if you want to check multiple orders. There wouldn't be so many people using the platform if it wasn't on par with the best.
  9. Scalping is no problem at all, probably faster than any other platform out there if you set up hotkeys and prepare the exit in advance.

    As def mentioned, I can be in and out in UNDER A SECOND.

    Play with the demo. I personally use the function keys for order send and cancel (F8 & F12). Control-Arrow keys to change price, and size.
  10. Stock thanks for the advice. Do I have to press transmit every time??? I'm used to platforms where I press 1 key to buy/short and the order is sent.

    In addition I have to have the underlying highlighted too? Doesn't it get cumbersome to trade multiple issues?
    #10     Feb 21, 2003