I recently opened up an account on IB, however Ive been quite perplexed by the complexity of TWS. Ive been daytrading futures for the last 2 years and have used numerous softwares such as Strategy Runner, Ninja Trader and even simpler ones like Manxpress but TWS seems to be way outta my league. I tried using the demo but somehow it isnt working on my PC. Anyone know a detailed manual for TWS I can view online or download? or any online interactive help with screenshots? (the videos IB offers are not much help). I am specifically facing problems in quick order entry and cancellation and how to view open orders abnd positions etc. To add to my worries a couple of threads here on ET suggest that stop orders are not displayed at all
no not the booktrader. I trade futures only and specifically gold and crude oil futures. I am talking about the main TWS software.
in TWS: for example: Config - View - Other Layout - Portfolio here you can customize a lot of what you see. there is a learning curve with TWS because it does give you a lot of opportunities to customize. i would suggest playing with settings and then chat with support. some complain about poor support, but i got decent responses via chat.
use some of the free software to put in orders: http://www.interactivebrokers.com/e...ultants.php?accept_disclaimer=T&ib_entity=llc
everything is pretty much explained here- http://www.interactivebrokers.com/en/p.php?f=tws&ib_entity=llc there is a user guide,demo and requirements. remember, that you must have java 1.5 or higher installed before you run TWS. TWS may not work, if you tried on saturday or sunday before 12:00 ET i'm not sure what the deal with order entry and cancellation..both things are done in 1 click. it's just impossible to make it any simpler..positions are displayed on same page or account page. all open orders are displayed on special page and they are highlighted. status of the order is also displayed on page,where you create an order. i think TWS interface is acceptable and intuitive , you just have to get use to it on top of demo you can create paper trading account and use it, till you became comfortable with TWS
I gathered some courage and placed a trade on the TWS. Earned $90 Its not that complex. The only problem I faced was with the order wizard.... cant understand difference between 'transmit' and 'accept' and is there any window where I can check my open orders? as in a single window which lists down open orders and some buttons to cancel 1 or cancel all?