IB Question

Discussion in 'Trading Software' started by doug456, Oct 29, 2003.

  1. doug456


    i recently set up an acct w/IB and am pretty new to the software, i accidently, just sent an order to short 2 YM contracts, the order was processed and now i am short, my question is once the order has gone through, is there a way to set a stop limit to buy it back if the market goes against me after the order went throuhg?
  2. m618


    I am not certain about STOP LIMIT orders outside of regular trading hours for the YM, as the YM doesn't trade on Globex (of which I am not certain however).

    For the ES (which trades on Globex), you can certainly do this. You just need to make sure the STOP LIMIT order is marked for execution outside of regular trading hours. Poke around the various TWS menus, or contact IB's technical support via chat. I believe that someone will be available to help you even at this late hour.

    In my opinion, it's probably best that you just eat the loss on the YM by exiting now at the market.

    -- M
  3. gms


    Click on the ask and a order data line will appear to set up a buy. There's a drop down menu to select the order type, then set the prices and number of contracts accordingly.
  4. doug456


    got it, thanks
  5. Lancer


    doug456, to familiarize yourself with the IB TWS software, run the demo. You can check out all functions and try all order actions with no risk to your funded account. At the TWS login screen, instead of using your name and password, login with Name: edemo Password: demouser