Hi, two features that would help imo (not sure if they are in the latest update) are: 1. Limit orders 2. Having your software recognize TWS initiated orders; so if you dont create limit orders with your software they can be done through TWS. Thks
I downloaded your software and tried it out. Thank you for making it freely available. After using your software I thought about what functionality I would like from software like yours. What I came up with is the following. I would like to place initiating orders primarily using limit orders and sometimes market orders. Once my order is filled then I would like to have a stop loss order ready, it would operate as a sort of MIT (market if touched) order. That is, it is not transmitted to the TWS until the price has touched the stop loss price. This function would also be very useful when trading globex as IB does not have working stop orders outside of the regular session. The order that is transmitted to the TWS may be a stop order or a market order. This being determined by the user. The idea here is no physical stop order is placed, but a mental stop order is emulated. Another order that would be placed when an initiating order is filled would be a target limit order. This can be transmitted to the TWS immeadiately after the initiating order is filled. Another useful feature is to be able to take profits on half the position, then moving the stop loss to break even and then to take the rest of the profits at another target. Richard
mc, I really can't say enough good things about your little program. It is so simple. The small window makes it really fast to open, then one click and you have an entry a trailing stop and a target. One thing that was not clear to me, is the stop and the target OCO? If not, if one is hit, should you just unclick the other or do you need to hit cancel? I could figure all this out myself if I could get a little volume on that demo. Thanks again. Please keep us posted if you make any changes. ($39.99 times how many fumbling fingered mistake prone traders?, man, I smell gold!)
Hi Richard and profitseer, Where have you been? Check out the hot discussions at the IB Discussion Forum Also, I have set up a website for the program which has evolved from discussions at the IB site. My program - BracketTrader is a fully functional program and not a scaled-down version, and its also free. Enjoy, pretzel
Hi Richard, Currently the AutoStop is an emulated stop order. you can change its value anytime while in the trade. However, this will Trail the current price, it is not a fixed stop. The Autotarget is also an emulated limit order for your target. If you want a limit sent to TWS then maybe I can look into this in the future. But basically it already has the functions you described. Concerning the scaling out of a position, this is not something I personally would need with this program. If I'm getting out of a position its for a certain reason and I'll look to reenter if market condition dictate. This is for my discretionary trading, I do have a couple mechanical strategies that use scaling. I fully understand why you want this feature. However, its complicated for me to implement this but (brain cells permitting) its not out of the question. My program is really made for people who trade a lot during the day. That "bracket trader" may have some features you want. It looks interesting.
By the way Peanut, my program is fully functional as well. I just have left out some custom features to suite my personal trading style and needs. If you want to compete then bring it on brother. Just joking but I'm not a programmer at all. This is the first program I've ever written and I learned VB last month just for this purpose.
Hi mc_a_98 Sorry, I have not seen your program yet but just saw your first post which says that it is a scaled down version. I'm not competing but just sharing my program out (just as you do). My program has already evolved beyond my needs by accomodating requests from readers. BTW, I'm also not a programmer and started only 2 weeks ago. If you want to see how I started, check my message at the yahoo twsapi thread Best regards, pretzel
pretzel, I checked them all out. OCT, Bracket Trader, Robostop, and Traderguard. I have a hard time when I download files figuring out where they all go. For me personally, my favorite so far is mc's E mini Manager. Maybe because after only about 2 hours of downloading and looking and downloading again and looking again, I finally found it and it worked. Worked great as a matter of fact. I'm a very simple minded fellow. Given a choice I'll take simple everytime. I'll take another look at your program if any of my brain cells ever regenerate. I burned a bunch of them out this weekend. And that was all reasearch! No partying!