IDEALPRO - Questions on Stop Orders

Discussion in 'Forex' started by LoosenUp, Jul 5, 2005.

  1. 1) Regarding IDEALPRO. What do I need to do if I need the stops to be active and trigger 24 hour a day? I assume that all stop orders in IDEALPRO are simulated orders, right? Do I need to check the "allow trigger outside RTH" box?

    2) Related question: If I have checked "allow trigger outside RTH" for my IDEALPRO stop orders, and subsequently, I need to place another stop order in ECBOT, but this time, I do not need the stop order to trigger outside RTH, how do I do that? Uncheck the box again? If I uncheck the box, will that invalidate "trigger outside RTH" for IDEALPRO?:confused:

  2. Steve_IB

    Steve_IB Interactive Brokers

    1. Yes
    2. You can set it up on a per order basis. Click on the line of the symbol you want to trade, Open an Order Ticket and you can easily view all the options.
  3. In addition to RTH box being checked, Configure - Order - Stop Trigger Method must be set to "Default method", not "Last method".
  4. A question about IB forex commision. If I go long $C versus the GBP do I pay 2.50 pounds to get in and then $C2.50 to get out?
  5. Hi Steve,

    So, given that I need "trigger outside RTH" only for orders in IDEALPRO, and NOT orders on other exchanges, what do you suggest I do?

    This is what I think. First, set Configure>Order>Stop Trigger Method to ALWAYS allow trigger outside RTH. Then, for IDEALPRO orders, I have to make sure that under Time in Force Tab in Order Ticket, do not check the "Regular Trading Hours Only" box. For orders on other exchanges, check this box so that orders will not trigger outside regular hours. Am I right?

  6. Steve_IB

    Steve_IB Interactive Brokers

    You can just set it up on a per order basis. Here's a better way to do it:
    1. Set-up order.
    2. Right click on order
    3. Select: Modify >> Trigger Method
    4. Choose the Trigger Method you want
    5. Send the order.
    If you're unsure about it then you can test it using simulated stop-limit orders to see it working without executing a trade. The flagged stop-limit order will change to a limit order when triggered. The non-flagged stop-limit will not change.

    Please note I'm off to Kuala Lumpur tonight so probably won't be back on the thread until Monday.
  7. Steve_IB

    Steve_IB Interactive Brokers

    From the Website, under Fees >> Commissions >>Forex:

    "Commissions for Forex exchanges will be charged in the trading currency (denomination of the currency being paid to purchase a currency, or being received when selling a currency)."

    (C$ in your case, assuming you are using IDEAL-Pro, in which case you have GBP as the underlying)