Interactive Brokers 3rd Party Automated Tools

Discussion in 'Automated Trading' started by moskvich, Jun 4, 2018.

  1. moskvich

    moskvich

    Is there demand for it? Is what TWS offering within its platform up to par?
     
  2. d08

    d08

    The demands are so custom that by the time you'll have something comprehensive ready, it'll suit no-one. There are also often minor issues that you'll need to work around and they vary by exchange.
     
    moskvich and tommcginnis like this.
  3. moskvich

    moskvich

    i meant something basic and generic like auto-stop loss based on predefined criteria
     
  4. d08

    d08

    You can rent a coder that does it for $100-$200 or were you talking about open source?
     
  5. lindq

    lindq

    You may want to first look into IB's conditional orders before you get wrapped up in 3rd party software.
     
    moskvich likes this.
  6. moskvich

    moskvich

    Yes, you can rent a coder, but 1) its hard to find a good coder 2) good coders dont go for $100 projects 3) freelance coder might not be around when you decide to make some changes and no coder wants to work with someone elses code so you might end up paying twice
     
  7. moskvich

    moskvich


    IB does have some automated or semi-automated functionality within their TWS platform,
    but most of it looks like it was written 10-15 years ago and is very clumsy - you need like 10 keystrokes to go through all the menus to activate it, so if you are an active trader, its a lot of extra work that slows you down.

    "Conditional Order" feature only allows you to use "Last" for price comparison (not High, Low, Open) and you are only allowed a simple condition, meaning you can't specify something like: If a stock gaps on Open and then breaks Unch
     
    Last edited: Jun 5, 2018