IB Book Trader

Discussion in 'Order Execution' started by toudeppots, Jan 20, 2006.

  1. I placed an order on the ES with IB's book trader today, and I wanted to put in a stop two points lower. I couldn't figure out how to do it. I ended up making three trades today I didn't want to make because of unfamiliarity with the software.

    I read every help section and tutorial, but I'm missing something.

    How do y'all do it?

  2. There's a full description of how to use booktrader in the User's Manual at


    Look under "Order Management" then select BookTrader.

    To enter a sell stop you right click the "ask size" at the price you want. Right click the bid size at the price for a buy stop.

    Note: if you do this backwards your order will be triggered. A sell stop entered on the "bid size" will become a market order. Perhaps this is what you did wrong.

  3. Thanks that's probably my mistake. Although I thought that you had to left click to place an order. I didn't think right clicking also placed an order, but I guess I was wrong.

    One more question:

    Let's say I buy at 1290. I put in a sell stop at 1288. Can I simultaneously put in an order to sell at 1292 to capture a two point profit? To do that would I just left click on 1292?


  4. BKuerbs


    You should configure Book Trader properly: then one (left) click will submit a Bracket Order.

    In Book Trader select "Configure" -> "Hot Keys" and change the "Configured Shortcuts" accordingly.


    Bernd Kuerbs
  5. IB should make it to where you can sim-trade with Book Trader so
    you can figure the darn thing out. Everyone else has a sim function
    on their order entry platforms.

    Instead, you have to open a whole new demo account. Strange.
  6. Book trader by default allow u to enter one single order clicking on a line bid (buy) or (ask) sell; if u want to close your position u click on the desired price in the booktrader.
    If u want to place a bracketed order u need to configure booktarder with the desired offset amount.
  7. domen74


    Set up a paper trading account at IB. I've been using it lately to get the hang of the platform...and yes, I've bought more instead of closing a position a couple of times already. Left click for buy/sell, right click for setting stops.

    The thing that I find strange is that in TWS you click on the bid price to sell and in Book Trader you click on the ask.

    So papertrade a couple of times to figure out how it works...it's mandatory.
  8. BKuerbs


    Have a look at the "Configure" -> "Hotkey" menu in the book Trader. You may change this behavior.


    Bernd Kuerbs
  9. That's very odd, booktrader default configuration doesn't allow for multiple untrasmitted orders.

    Are u sure you didn't change the settings?
  10. For about a dollar a day you can use Buttontrader and put these problems behind you. It works with IB flawlessly with any strategy you want and making adjustments after entry is a cinch. It is so easy to make mistakes with Booktrader that I gave up on it.
    #10     Jan 21, 2006