If you have more than one account with IB, how exactly do you specify which account to place trades in? I mean, right now I have a page with stocks I'm watching, and I just click on a price and hit 'T'. Am I going to get a popup window every time asking me which account to apply the trade to? Do I have to have a separate page for each account?
You set up different account groups and allocation structures and use them when you place the orders. You cannot allocate after a trade is made. The allocation info is in the trade window alongside your bid/ask etc. You setup the page to your liking just as you do now. You change the allocation preset via a pulldown just as you do when changing a MKT to a LMT, etc. There is a lot of flexibility in how you set things up. Download the Advisor TWS Demo and play around with the allocations. The Demo is very, very, very bad (at least it was back when I used it) insofar as trading goes but it will allow you to see and experiment with the advisor functions. The terminology IB uses is a little obscure so ensure that you read the help info. Jack