Two universal accounts at IB?

Discussion in 'Retail Brokers' started by wally_, Oct 14, 2002.

  1. Is it possible to have two UA's at IB?

    I would like such a setup to trade ES using two different systems. Or perhaps there is another way to solve this problem which basically is this: suppose, I have placed a stop-buy order for 1 ES contract with a 6 pt stop-loss and MOC (position 1), and at the same time I am swing trading 2 contracts that constitute another position (position 2). Now, position2 is always in, it just gets reversed form time to time, while position1 is supposed to stay open when the entry is finally triggered until MOC or the stop-loss is triggered. Is it possible to manage these two positions at the same time without having two accounts at IB? My concern is that I might reverse position1 while trying to reverse position2.

    I would appreciate any advice in this matter.

    TIA,
    wally_
     
  2. def

    def Interactive Brokers

    There is nothing stopping you from having two accounts. However, with a little bit of extra programming you can put in some logic that might be able to save you some commissions. If you decide to go with two accounts, assuming the same beneficial owners you'll be able to xfter funds from one account to the other if/when required w/o any charges.
     
  3. is that putting on position1 will affect position2. I just realized that. So what's the best solution here? There must be some.

    Thanks,
    wally_
     
  4. I appreciate your prompt reply, but what do you mean by that logic if you could elaborate.

    I thought it was impossible to handle the same futures contract in two systems in the same account because IB TWS would treat it as one position and not two which is what I would like to have. Am I wrong here? Do you know of any software that could solve this problem? What programming solution did you have in mind?

    I would appreciate your answer.

    TIA,
    wally_
     
  5. you only need one account. Although IB may match up the purchases and sales differently to your models, it makes no difference to your p & l.