IB--Time based exit question

Discussion in 'Risk Management' started by garage sale, Sep 7, 2010.

  1. Is it possible to enter an order and have it exit at a pre-determined time or when my target or stop is violated. I can use a bracket order and put a target and stop, but let's say if my target or stop is not touched by 12.30, I want to exit at 12.30. Can all these be combined?

    I use IB as my broker.

  2. Anyone????
  3. This is relatively easy to setup automatically with an external order entry system like Sierra Chart for instance but natively in TWS I'm not sure about. I know that there are fields for start time and end time so it should be possible. I have done this before manually in TWS by sending a market order with instructions only to execute after a certain time (after 3pm). It worked but it was very rudimentary way to manage via time exits. Any decent third party program (BracketTrader, Button Trader, Sierra Chart, etc.) should allow this capability without much effort.
  4. J.P.


    Easy. You have a number of options for this already built into TWS at IB. Two examples: the Accumulate/Distribute algo or simply using the Order Ticket for a Conditional order. Both have the options you are looking for; just peruse the Users' Guide.
  5. Take a look at the "Good-til/after", etc orders. You can probably do an OCO with your stop order and a "Good After" order combination to achieve what you are looking for.

    As mentioned, there's 3rd party stuff out there that makes the combo orders much easier to generate. It's pretty cumbersome to set these up directly in TWS.

    I'd make sure to test it on the demo server first to be sure it does what you expect (login to TWS with 'edemo' and 'demouser' if you don't have a paper trader account).
  6. Yes you can. Use the alerts feature.
  7. If you are trading futures note you might want to check the 'allow condition to be satisfied outside of RTH'.
  8. DGMan


    Yes, you can.

    1. First, add a "start time" (or "good after time") column in your trading page. Search for Help in your TWS workstation, you can find the steps.

    2. You should use "OCA" order to achieve your purpose. Assume you have created an OCA orders:
    - Right click any member order lines, select "Attach", then select any type of orders (because you have to change it after all).
    - The new order line should share the other order lines in the same OCR group. Now change it to MARKET order, and in the "Start time" column, type the time you wish the market order to execute, e.g. "12:30:45"...