Multiple strategy testing in paper IB accounts

Discussion in 'Strategy Building' started by dogarrhea, Jan 18, 2020.

  1. guru

    guru


    This may be different (unless I misunderstood your example), as I used bracket orders in the past which are defined (at least by IB) as a single limit order that after getting filled has 2 orders attached: one to exit at profit and another one to exit at stop loss.
    https://www.interactivebrokers.com/en/index.php?f=583
    So a bracket order is a single limit order and after it gets filled, then I create one exit order at profit/target, and another one as stop-loss order. I just don't use IB's bracket order feature anymore and send each order to IB separately when the price nears my targets.
     
    #11     Jan 18, 2020
  2. dogarrhea

    dogarrhea

    how do you get one or the other to cancel 100% reliably? I imagine there's some latency where you could potentially hit both of your orders if you are doing it manually.
     
    #12     Jan 18, 2020
  3. guru

    guru


    I use OCA for some related entry orders, but for exits where I emulate bracket-type orders, my price limits (profit target vs stop loss) are quite far from each other where I have time to either create new order or cancel the other one based on current stock price.
    Though possibly you could also try OCA type 1 with overfill protection where IB would do the same and assure that only one is filled at a time.
     
    #13     Jan 18, 2020
  4. fan27

    fan27

    #14     Jan 19, 2020
  5. I haven't done this before, but I am told by NinjaTrader that you can open multiple sim accounts. I started using NinjaTrader because I can trade my IB account through the API. Now I have the multi broker license for 3 different accounts, all through NT. I test one strategy on the IB paper account, and another simultaneously through the NT sim account.
     
    #15     Jan 26, 2020
  6. Doesn’t this mean that you can sell and buy from yourself and in the process pay brokerage? How will that help?
     
    #16     May 28, 2020
  7. Testing different strategies, different time frames, and different instruments.
     
    #17     May 28, 2020
  8. dholliday

    dholliday

    You can have 6 connections to TWS at one time via the Client ID (1 - 6). It's in the API docs.
     
    #18     May 30, 2020
    EminiMizer likes this.
  9. Thanks. I didn't know that. But the reason I have 3 different accounts through NT is not in order to trade different sims. For security reasons I feel it is better to have more that one account. As long as I have multiple accounts, it makes sense to separate different objectives by brokerage. With TD Amritrade I can only trade stocks through NT. Then I have IB and NT Brokerage. With the lifetime multibroker license my commissions on NT Brokerage are lower than IB, so I intended to use NT for shorter term day trades and IB for swings.
     
    #19     May 31, 2020