time orders (IB should do this)

Discussion in 'Retail Brokers' started by Gordon Gekko, Apr 16, 2003.

  1. I already know about MOC orders, but I think this is a good idea.

    We're all familiar with entering buy/sell orders with price specifications. For example, a stop order at 800. Why don't brokers let you specify a time of day or time period to trigger an order?

    For example, if I'm long, why can't I make an order to sell at 3:45?

    IB should implement this.
     
  2. def

    def Interactive Brokers

    do it in excel. i can't imagine the demand would be worth the programming time.
     
  3. tjuggler

    tjuggler

    I, too wish that there was a way to enter a time order to close out (or open) a position at 3:45. If I'm short ES on a bad day, it is my favorite time to cover as this is the time some traders are being sold out of their positions. DEF, it is worth the trouble for IB to find a way. Thank you.
     
  4. Quiet1

    Quiet1

    could be done in Excel but nicer if it was inside TWS.

    For example, I would like to be able to have an OCA group containing the following orders:

    1) stop-exit (ie stop loss)
    2) limit-exit (ie profit-taker)
    3) time-exit (ie go home flat)

    this is not totally simple via Excel...

    Q1
     
  5. Quiet1,

    That's exactly what I'm talking about. Once you know what would make you exit a trade, why not set up a OCA group, like in your example, and go do something else?

    Yeah, it would take IB some work, but if it would make their customers happy, why not do it? If they can do orders based on price, how hard would it be to add time orders? It's definitely possible.

    I can already vision how it would be. As it is right now in TWS, you can enter a price for your orders, and you can hold down the mouse button and a bunch of related prices show up. It could be just like that, but either times of day or time durations.
     
  6. this is directed at anyone who knows, not just def:

    in general, how would this be done? how can i have a time exit using excel and IB?

    also, if i figured out how to do a time exit with excel, could it also cancel an open order if i had one? for example, say i have an open stop order. if i had excel do a time exit, could it also cancel the open stop order?

    thanks
     
  7. NinjaTrader allows you to specify a time stop which will automatically close your current position. If you entered your trade at 3:00 PM, you would simply specify a time stop value of 45 mins. At 3:45, position is closed.
     
  8. msk_at

    msk_at

    Hello

    It's no problem to cancel an stop order, with a "time"-order, you just have to use the same oca-group, when the market-order is filled all other orders in the OCA-group will be canceled.

    sascha
     
  9. I have not used it in 2 years, but I'm pretty sure Realtick had a time order feature.