question on IB trader workstation

Discussion in 'Order Execution' started by shovel52, Sep 8, 2003.

  1. shovel52


    If you have your hot keys programmed for a buy, buy limit+4, and sell, sell limit +4, If you go long the mini s&p, and when you reach
    your target, you press the sell key, will that exit your position?
    on my platform it won't! How ever if you press the close position
    key, and price is slow,bouncing back and forth , it will fill my order
    to exit my position. What kind of order is close position? If it is
    a limit order like IB told me it was, then at what limit price does it execute at?I can tell you one thing, if price is running away, than it won't fill you! however if price is slow, bouncing back and forth
    then it will. This tells me that it is a limit order at the current market price. Why would any one want to use this close position order, if they don't allow you to add the +4 etc. like they do on a buy or sell order. You could never get out of a position if price
    was running against you! I have tried to add the +4 to the close position feature but the customoze tab is not visible, which says you can't customize it, so the close position is a suicide limit order!
    which shouldn't be on there to begin with! Her is my question again, if you are long , and wish to exit, will pressing the
    sell+4 key which is a limit order, exit your position? thanks john
  2. shovel52


    I found it guys, I had the sell key at a +4 instead of a -4
    trying to exit by placing a limit order 4 ticks in the wrong
    direction! Been papertrading for 2 years, I can call the shots
    if I learn how to place orders ,maybe I can make some money!
    thanks for the input John
  3. I hope for the sake of your wallet that you're practicing your TWS skills on the demo. TWS speed makes it very unforgiving to user errors.
  4. Why not use market orders for Globex ?
    IB TWS will transform them into limit orders anyway.