I am opening a new account at IB. I currently trade with Cybertrader. I downloaded the demo for IB's tradestation and it does not appear user friendly, or at least not as simple and straightforward as Cybertrader Pro. Is there a third-party software program to use with IB that is more akin to the Cybertrader pro type of interface? Thanks.
http://www.interactivebrokers.com/e...p?progid=11&accept_disclaimer=T&ib_entity=llc Look under 'Order Management Software'. I hope this helps. Tom
Agree that IB is extremely convoluted and non-user-friendly I'm not familiar with CyberTrader, but I have experience with two terrific front-ends to use with IB: NinjaTrader and BracketTrader. http://www.ninjatrader.com/webnew/index.htm http://www.bracket-trader.com/home.html I understand that ButtonTrader and ZeroLineTrader also come highly recommended. http://www.buttontrader.com/ http://www.zerolinetrader.com/
Actually, if you use only the simplest options on the IB Workstation platform it is quite easy to use. It takes a little getting used to , but theres no question that it is fast, and easy to use . Trading is hard, tws is easy. Something tells me all these folks that find tws so 'difficult' are mac users.
I am a scalping Crude and ER2. While IB's TWS is simple and sturdy the charting component is substandard. Having looked at the links provided above it seems that the chart trader function of some of those systems may suit me. The question to experienced traders is: Was switching to a front end system worth it? My sense after looking at the demo's is that one trading 50 to a 100 lots of futures a day should gain measurably. Thanks in advance, GC
I have tested Buttontrader and Ninja but decided on keep using the basic TWS and added Sierra Charts. Button and Ninja are both more complicated to use then TWS. Since TWS has only 5 minutes of 15sec charting and TS does not have seconds increments at all Sierra (fed by IB data) which is very economical will do the job. GC
Except for the charting, I find TWS' UI easier than CyberTrader, TOS, MB, and numerous others, even from day one. I think it's a matter of if you like the order management line paradigm or prefer a form. You can configure TWS to pop up the order entry dialog instead if you're more comfortable with that
I find that hard to believe. Although TWS Booktrader is better than it used to be and it is possible to enter bracket trades with it, I would never be able to trade as comfortable and safe with it as with Buttontrader. Unless you enter your trade without ever modifying it I think a serious trader should use something like Button, or Bracket, or Zeroline- trader. Ursa..
Ursa, I do not use bracket orders or stops. I scalp CL for 3-5 points and ER2 for 20-40 depending on market conditions and I am in and out quick, so I have no need for all those strategy features and visual clutter. I do better with a static setup, don't even use DOM because that way there is less distraction from what I should be focusing on which is sensing price momentum. Over time I came to recognize that in scalping not placing stops saves precious time and sometimes points. Yes, of course, once in a while the market gets away from me. GC.
If you are looking for both a trading front end and a real time charting package for Interactive Broker look at QuoteTrader. It is FREE and our new web site will explain the latest features: http://www.quote.com/quotetrader Chuck