IB trader workstation worth learning ? or piece of junk ?

Discussion in 'Interactive Brokers' started by TradeTune, Mar 31, 2020.

  1. It's worth learning even if you don't end up using it for your primary trading. I use a different platform with IB, but once in a while, when the API gateway breaks down or there something odd happening between the non-IB platform and IB, it's good to be able to get into TWS quickly and resolve the issue.

    Generally speaking, I think it's always prudent to know the ins and outs of the system used by the company that holds your money.
     
    #11     Mar 31, 2020
    nooby_mcnoob likes this.
  2. Does IB TWS hanges , crash
    Thank you for your insight
     
    #12     Mar 31, 2020
  3. Thank you for your insight
     
    #13     Mar 31, 2020
    KCalhoun likes this.
  4. What plateforms you suggest i can look into that give you universale account for all products and markets like IB ?
     
    #14     Mar 31, 2020
  5. muriel seibert
     
    #15     Mar 31, 2020
  6. rudi20

    rudi20

    I scalp the 1-minute chart. It works great for me. I have hotkeys setup, can place limit and stop orders with one mouse-click, and it has proven a very reliable workhorse for managing trades.

    It is not charting software, but I'm fine with that as I like to keep my charting and analysis separate from my order execution.

    It took a long time to fully understand all the features and quirks of the software. There are a few bugs with the software, for example one version doesn't show daily P&L % properly, and another doesn't show VWAP on 1m properly, and other minor issues like this.

    One feature I'd really like to see is the ability to alter the default order size for an asset via a hotkey. That would make it perfect.
     
    #16     Mar 31, 2020
    KCalhoun likes this.
  7. kmiklas

    kmiklas

    Note that TWS actually has two interfaces: Mosaic and Classic. Look at the bottom-left for tabs to switch views.

    - Mosaic is relatively new, and allows you to create a custom view of your terminal with the lock button in the upper right.
    - Classic is old-school. It doesn't have the bells and whistles of Mosaic, but is clearer for some things.

    ...and I would be remiss if I didn't mention the Gateway and API. IB has a reasonably robust API for the price, and either TWS or the Gateway must be running for it to work.
    - TWS is integrated with the API. If TWS is running, you will see your API trades appear.
    - The Gateway is just that: a gateway. It's not meant to be a trading platform; it is designed to be a terminal-less way for you to run your scripts.
     
    #17     Mar 31, 2020
  8. def

    def Sponsor

    OP: IBKR has been the largest US electronic broker in terms of daily average revenue trades. Last month total daily average revenue trades per day were 1,346,000 with 41,818,000 option contracts, 14,936,000 futures and 17,286,548,000 shares traded for the month of Feb.

    I think those numbers alone answer your question. If you are going to be an active trader, the software will suit you very well. If less active, look at Mosaic, there are number of predefined layouts which are simple and intuitive.
     
    #18     Mar 31, 2020
  9. arman555

    arman555

    Oh man TWS from IB is not just junk its dangerously wrong. I have lot money because it shows wrong numbers.
    The my account window i was told by the support to not to trust it because the number arent right.
    I withdrew all my money a year ago and it still shows on my TWS account as if i have Balance. Please stay away from if Trading is your goal.

    Someone told me that "its not for trading or charting, its mainly for analysis and news"
     
    #19     Apr 1, 2020
  10. That's malarkey - you're probably looking at Virtual dollars. Mine has been perfect for years.
     
    #20     Apr 1, 2020