Software for Risk Management IB

Discussion in 'Risk Management' started by slowdown, Jan 27, 2008.

  1. You guys know of any software that works with IB that can manage risk?

    For example, at many prop firms you can set a max loss, so if you lose 1G in any given day, your positions are liquidated and you're shut out for the rest of the day.

    any way to get this with IB?
  2. Mins


    I have been searching everywhere for this exact same thing. No luck yet or replies to my previous post on this topic. :mad:

    I think i will go the route of either creating my own API for IB or something along those lines.

    If their are any order systems which do this kind of risk management i would be grateful to know. Anybody know if Ninja Trader has this sort of feature.

    A simple max drawdown system which effectively shuts you down for atleast a couple of hours or the day, thats all i am looking for.
  3. just21


    IB just introduced there own risk manager in the latest version.

    B Risk NavigatorSM

    Interactive Brokers is extremely pleased to announce the launch of the IB Risk Navigator, a real-time market risk management platform unifying exposure across multiple asset classes around the globe. The IB Risk Navigator offers the following benefits:

    * Lets you easily identify overexposure to risk by starting at the portfolio level and drilling down into successively greater detail within multiple report views.
    * A series of predefined reports, each of which presents a summary of your portfolio from a different risk perspective, for example by underlying, by industry and more.
    * Allows you to view Exposure, Value at Risk, Delta, Gamma, Vega, and Theta, as well as profit & loss and position quantity measures for different portfolio views
    * Dynamic report data that updates every 10 seconds, and immediately upon changes to your positions.
    * What-if scenarios, which let you hypothetically modify positions to see how changes in your portfolio will affect your risk summary.

    In these uncertain times, it is important that traders have real-time control over their risk. While there are a number of market risk analysis software packages for sale in the market for hundreds of thousand of dollars, Interactive Brokers is providing this professional risk management software as a free service to our customers. To open the Navigator, select IB Risk Navigator from the Analytics menu, located on the menu bar in the main trading page and in the OptionTrader. Additional information about the IB Risk Navigator can be found in IB Risk Navigator Highlights summary, or in the TWS Users’ Guide.
  4. IB Risk Navigator is complete BS.............its not risk management software at all........its more like risk reporting/analysis software.........and it probably works as well as IB charts - infrequently, irregularly, or not at all............i think what OP is asking about is real risk management which at a basic level is about setting limits on position size and losses.............and only ButtonTrader lets you do that......
  5. RAY


    I believe ButtonTrader does this.
  6. tx, I'm not familiar with buttontrader. I thought it was mostly for futures?
  7. the 2 most important functions for every broker should be

    1 order management
    2 risk management

    everything else (quotes, news, charts, etc.) is completely unnecessary and easily handled by vendors that specialize in these sort of functions..............yet most brokers focus on all this (quotes, news, charts, etc.) at the expense of order management and COMPLETELY IGNORE RISK MANAGEMENT..........even though they know 90% of THEIR CUSTOMERS are either blowing up or constantly under performing the market due to lack or risk management.

    2 words: Société Générale
  8. I looked at buttontrader, yah it has it. I wish IB had this feature, obviously there are a lot of us who want it.

    Not sure if a broker would want to have it though, since ultimately it would mean less comms for them? but then again, if you blow out, you're not going to be trading either so who knows.

  9. you can trade stocks with buttontrader as well as futures.......i don't know how any IB user that trades frequently can trade without buttontrader

    an example:

    click on ask to buy
    click on price to adjust bid to where you want it to be
    click on bid to set price target
    click price to adjust price target to where you want it to be
    click on bid to set stop loss
    click on price to adjust stop loss to where you want it to be
    then lots of more clicking to adjust orders

    with buttontrader i just click on where i want to buy and BT automatically sets up bracket orders for profit target and stop loss based on my predefined criteria..........its super easy and has a very intuitive visual interface.........which reduces stress it also makes it very easy to manage risk which also reduces stress.
  10. tx chewbacca, I'll def check it out. One question -- is it reliable? Last thing I want is a 3rd party program to start screwing my orders....
    #10     Jan 27, 2008