A question about order types for IB. I want to enter an order at the end of the current trading day for the next trading day. I want to buy/sell the future (FDAX) only if the next day open of the index (DAX) is up/below a certain level. Is this possible? Thanks.
I think so. Check out conditional orders in the IB user guide under advanced order types. You can make orders contingent on the value of an index. It seems like you would want to set up an OCA order group with a buy and a sell order for FDAX, with each side being contingent on the value of DAX. That can be done by bringing up the order ticket window and clicking on the conditional tab. You also want to arrange that the orders are only in force for some reasonably short time period around the opening of DAX, so that you get something like the opening value. I think you can do that in the TIF tab by setting the time in force field to GTD, and entering values for both Good After Time and Exp. Date and Time that bracket the time of opening of DAX. Good Trading!
IF I don't get you wrong, it should be really simple: Just put a GTC Stop limit order and cancel it after the open. If you need further hep call 00800-IBBROKERS: