Web based or download TWS from IB

Discussion in 'Interactive Brokers' started by gparkis, Dec 13, 2006.

  1. gparkis


    Setting up an account with IB and will be trading futures. Anyone have any tips on avoiding any pitfalls when using TWS and things to look out for.

    Also, does anyone find the web based verison or the downloaded version better for a broadband/cable internet connection? Does one have more problems then the other in regards to order execution?

    Any heads-up woud be great.

  2. There are actually three choices for trading at IB. For trading with TWS, you can install it on your machine or download *most* of it every time you want to use it.

    Then there is the web Browser-based Trader. This is for people who need to get on fast and do a couple things. Probably when they are away from their main machine.

    I use the IB-TWS API and I have found it better to only upgrade and install the latest TWS version when they say "You must update. The old version will no longer work..."

    When you use TWS and download it, you get the latest version. I luv IB, but their track record of problems with new versions is...well...not great. And they have a lot of new versions.

    I am not aware of any differences, speedwise or otherwise, between the "downloaded" TWS and the "installed". AFAIK both actually run the same way from Java.
  3. andread


    not true. With webstart only updates are downloaded. It's true that TWS is updated quite often, but you don't have to download most of it every time.
  4. Thanks for the correction. *Most* was not the correct word.

    But the point I was making was that you didn't need to download ALL of it, every single day.

    And today, guess what? I get the message "You must upgrade your TWS...Versions older than xxx will not be supported after 12/22..."

    Uh oh.
  5. gkishot


    Keep in mind when you trade futures with IB that they don't make the margin calls and your positions get immidiately liquidated once they drop below the margin limit even though your cash balance is not 0.
  6. This is correct.

    The IB "margin clerk" is a ruthless comp algorithm that will tear ya heart out!

    Actually, it does try to only close the profitable trades. If it can find any. At least that is what I noticed when I got a little too crazy last May/June.

    So if you are over the "overnight" limits when 4:00 (or whatever) rolls around...DUCK! :cool:
  7. ids


    IB "margin clerk" is ruthless indeed. Nevertheless, profitability of trade is not a criterion. We liquidate mostly between 9:40 and 16:15 EST. Liquidation of US instruments is not possible after 16:15 except for some super-liquid US futures and FX.
  8. Maybe it seemed like it, 'cause I ONLY have profitable trades! :D

    Well...not quite, but close! :cool: