What are some of the first things I should do? What should I do to get familiar with the interface. Any tips, tricks etc...
Here is the link for user guides, also use the sim/ paper platform to get used to it. If you didnt sign up for sim already you can through account management / trading access/ paper trader http://individuals.interactivebrokers.com/en/general/education/UserGuides.php http://www.interactivebrokers.com/en/software/tws/twsguide.htm
Thanks. I tried to start the paper trading account, but it still hasn't gone through. It's been a few days.
Do you plan on using IB charting or will you select a charting platform ? IB charts, not terrible ... personally I chose Multicharts for that. There are many charting platforms to choose from for your needs. Just get the paper trading going and open everything up you see to get used to it, learn how to configure it. Go over your data plan make sure everything you will need is subscribed to. Build the platform up to best fit your needs for trading. Keep in mind not to place live trades until you really have a feel for TWS to avoid any problems.
I will just say that it is easy for a newbie to get confused with the order entry and sell when they mean to buy or vice versa. Make sure you understand what you are doing.
For now I am using IB, but I am currently playing around with Multi Charts and really like it. But, I also really like Worden Platinum. I have been using freestockcharts.com, which is a free version of Worden and I love their interface and ease of use. But, Worden Platinum is $80/ month and now Multi Charts has a free manual version which is adequate for me, but I don't like their interface as much. Also, Worden Platinum gives you real time data and historical data, which every says is not good on IB. Decisions, decisions... No trades at all? ...Maybe just one and let it sit lol
I agree. But, I have been preparing for this. I have been messing around with their platform and website for a few months, but nothing in depth. I will really get into it with my paper trading account first. Seems like a good time to take a breather since market is correcting anyway.