IB Orders that trigger when a price level is reached...

Discussion in 'Trading Software' started by bungrider, Nov 25, 2002.

  1. Hi,

    Lately I'm getting tired of pikers pennying me, whether it's some yutz on the naz, or a specialist.

    What I would love to be able to do is to create an order in TWS, but only show the order when the price level is reached - or take any bids or offers within a certain range (a.k.a. discretionary order) - BUT I don't know any way to do this with IB.

    Example - say a stock is trading at 25, and I want to buy it at 24.50. I can make an order to bid 24.51, but the yutzes are going to see it, and bid 24.52 to step in front of me. The pikers aren't a problem in fast markets, but when prices are moving more slowly, it can be maddening as all hell to be there first, and then have johnny-on-the-spot step in front of me and take my shares...

    (I could use stops, but I'm talking about buying support and selling resistance)

    Any help would be greatly appreciated...thanks in advance!
  2. mark1

    mark1 Guest

    The only partial solution of your problem that I'm aware of is to show only a partial size of your order on ISLD orders.

    You want to buy 10000 shares of xyz on ISLD , but you can show your order on level 2 as a 100 shares Ord.

    Take a look at TWS help for further Info
  3. yeah, that's what i've been doing, but it's only a partial solution, and will not really work on NYSE. i need an interface that will support discretionary orders.

    thx anyway