IB Booktrader Multi-Target and setup questions...

Discussion in 'Index Futures' started by Piotrek, Aug 12, 2008.

  1. Piotrek

    Piotrek

    Hi.

    Looking to use IB's Booktrader live DOM setup as I would like to move away from a 3rd party order-entry frontend.

    Here is what I would like to do (will use 3 ES contracts and +2,+4,+6 targets for demonstrative purposes):

    Single left click bid size/ask size creates a LMT sell/LMT buy parent order for 3 contracts. Once clicked the following child orders are auto-populated pre-fill and go live once the parent LMT is filled:

    1. STP order for all 3 contracts (ex, 2pt stop)
    2. Target 1 LMT order - @ +2pt, 1 contract taken off. STP order auto-adjusts so it now is protecting the remaining 2 live contracts.
    3. Target 2 LMT order - @ +4pt, 1 contract taken off. STP order auto-adjusts so it now is protecting the single (1) remaining live contract.
    4. Target 3 LMT order - @ +6pt, last contract taken off. STP nullified.

    When going into "Configure" in booktrader, I select Hotkeys. For ex, I have "Buy LMT at BookTrader Price with Auto Stop" set to Left Click on Ask Size. When configuring this selection, below is what you see:

    http://img243.imageshack.us/img243/8763/hotkeyconfigyf7.jpg

    As you can see, the option to Add Targets 2 and 3 and modify all 3 is impossible since they are "grayed out." You can only have one Target LMT and you are unable to adjust the size?

    Any tips would be welcomed. Thanks.