IB brackets

OK,

I know this has been beaten to death, but I have a prob I didn't see in previous posts.

I wish to set a bracket on a FILL, not an order. Anyone able to do this?

If not possible, then I wish to specify a limit price and have IB bracket this. I can only do this via the menu method, but cannot specify target parameters here. With hotkeys all parameters are definable, but brackets are automatically figured on the current market. Great for scalping, but I often place orders a bit off the market.

Thanks for any insight,

Jay

 

www.ninjatrader.com

 

create your bracker limit order then simply modify the two brackets manually.

 

Trying to avoid the hassles of manual entries, but I guess that's the only way unless I wish to pay $25 per month for Ninja Trader. fantastic product by tyhe way, its just a principle thing with me that I shouldn't have to pay for execution only software.

Jay

 

How can I setup an order where, if it gets executed, it cancels my stop?

-FastTrader

 

personally i prefer autotrader .. but cmon.... ninja trader is excellent if you need those extra features... plus it cost 2 ticks a month only... no i am not associated with ninja trader but i have used it////

 

You may enter orders, which cancel each other, by making use of the OCA feature: just give these orders the same "OCA group" name. The group may consist of more than two orders. You have to configure the layout of your page ("Page"->"Layout") in a way that the field "OCA group" is displayed.

It is not quite clear what you mean: you want to enter an order, say a buy, and atttach a limit-order (to sell) for your target and another sell-order as stop-loss. The latter ones cancel each other when filled, i.e., when your target is reached the stop-loss order is canceled. That is a bracket order. The simpliest way in TWS to enter these, is to configure some hot-keys accordingly: "Configure"->"Hot Keys". First create a shortcut for buy/sell and then configure it.

And as some products greatly facilitating this process already have been mentioned here is another one: www.buttontrader.com

regards

Bernd Kuerbs

 

Do you have a website for autotrader. Doing a google search turns up the auto company.

Thanks,

Jay

 

This is how you do it with TWS...

First enter your limit order to buy.

Then on the orders page (not the pending page)

Right click on the limit order and select "create bracket order"

Enter your stop and your profit target.

When the entry is filled, the secondary orders become active. When either secondary is filled, the other is automatically cancelled.

I have an order in right now to do this.

 

You just hit your bracket hotkey. If it's a limit you have time...for your buy hit your decrease price hotkey. Say you hit it 3 times, then hit the target 3 times and the stop 3 times, then transmit. I can probably do it in less than 5 seconds, and no chance of messing up if you get the limit right, and you are already doing that anyway.