IB combo trader question

Discussion in 'Order Execution' started by ballsofgold, May 28, 2014.

  1. hello to whom it may concern,
    apologies in advance if this topic has been discussed but i tried the search function and found bits of relevant info scattered, thus for making my search inefficient. so here goes:

    i closed my IB account years ago and never used the spread/combo trader functionality. i am currently using one of the top end platforms paying nearly 3k USD a month all inclusive.

    However, as i am only doing exchange traded spread custom strategies, I am wondering if IB combo trader can handle my plain vanilla strategies.

    1.) does IB combo trader create automatic ghost orders on custom spreaders so that you do not generate 1 million orders to the futures exchange?
    ex: if a certain fly was .10/.20 cents - and i was .05 bid...would the platform wait for the offer to come close to my .05 bid before any orders are generated?

    2.) given the same example above, how would the platform allow you to create market sensitivities to allow you to have a working leg.

    ex: if the custom spread on the fly was composed of oct-nov and nov -dec....can you set it work the illiquid leg when the market gets closed to the component price of custom strategy? so if oct nov was 1.20 and novdec was 1.35 - mid market on the fly is 1.15 but at what point would it start working a novdec order at 1.35 to get a fill when the oct nove trades 1.30 if i want to trade at .05...so that i am first in the queue....(hope this question makes sense)

    alternatively, what does the combo trader do if you are legged?

    secondly, does it allow you to set which leg you want as a limit order vs a market order.


    ultimately, i will create a demo account to test the combo trader myself but any experienced users on IB -please feel free to share.

    BoG