IB's Book Trader for Single-Click Transactions

Discussion in 'Retail Brokers' started by Cdntrader, Mar 14, 2004.

  1. Release Notes for build 820


    Enhancements


    IB's Book Trader for Single-Click Transactions
    With IB's new Book Trader tool you can transmit orders off the best bid and ask with a single click. The Book Trader displays as a separate window for whichever contract you select. It shows the current best bid and bid size, and the current best ask and ask size, along with a series of 13 prices on each side of the bid/ask. To open Book Trader, select a contract on the trading page and use the right-click menu to select Book Trader. A warning message asks if you want to "arm" the application, which means you accept that a single-click on the bid or ask price in Book Trader initiates an order. This functionality is the same as the Instantaneous Transmit feature associated with hotkeys.

    Once Book Trader is open and armed, it works like this:

    A click in the Bid price field initiates a Buy Limit order.
    A click in the Ask price field initiates a Sell Limit order.
    A right click in the Bid price field initiates a Buy Stop order.
    A right click in the Ask price field initiates a Sell Stop order.
    Hold the Alt key and click in the Bid or Ask field to create a Bracket order.
    To cancel an order, click in the price field a second time. To modify the order, click in a price field above or below the currently selected line. Open as many Book Trader windows as you want. Working orders are shown on the Pending page just like orders you create from the trading page.
     
  2. vikana

    vikana Moderator

    I experimented with in on friday afternoon. Works great.
     
  3. alanm

    alanm

    But you can't hit bids/lift offers with one click? Isn't that what people need speed for - before the guy gets hit by someone else?

    Seems like shift-left-click would make sense.
     
  4. def

    def Interactive Brokers

    can you clarify? if you click on the offer a limit order gets sent at that price. keep in mind this is a beta release and more bells and whistles will come over time based upon feedback.