What types of orders can you enter on IBKR lite?

Discussion in 'Interactive Brokers' started by tm689, Oct 28, 2019.

  1. tm689

    tm689

    I bet you thought that sounded like an intelligent comment when you wrote it.
     
    #21     Oct 28, 2019
  2. tm689

    tm689

     
    #22     Oct 28, 2019
  3. Same here. I also switched from the default (Google) to DuckDuckGo as their search results have become good enough for me.
     
    #23     Oct 28, 2019
  4. If you seriously think you can direct orders with free commissions you have no idea what payment for flow is all about. Go back to the first page of this thread and read the comic posted which is a good representation.
     
    #24     Oct 29, 2019
  5. tm689

    tm689

    And just why wouldn't that be possible? It is possible for the firms that specialize in rebate trading. They get their revenue from taking part of the rebates traders get when their bids and offers are hit, thereby getting the rebates for adding liquidity.
    Maybe in all your wisdom you can tell me who pays for the order flow when traders enter limit orders at the current bid on systems like Schwab? On Schwab you can use ecn venues to enter limit orders at the current bid.
    You can refer back to my thread back in Feb 2018 entitled "Is rebate trading with near zero commissions the future of active trading?"
     
    Last edited: Oct 29, 2019
    #25     Oct 29, 2019
  6. Who pays for limits? You do. The HFTs love it. They can lean on them and have a free back stop.
     
    #26     Oct 29, 2019
  7. tm689

    tm689

    If I make the spread I don't care who leans on my order. I figure out what the right price is and the HFT traders can spin their wheels all they want around my order. Let them get stuck in an illiquid stock a few times and see how they like trying to manipulate orders around my order.
    That is why I originally asked about hidden orders. I might be top bid showing 100 shares which could be 100 shares or 5000 shares with 4900 hidden. Let the HFTs figure out if they want to get ahead of my order. It will be especially tough for them to lean on my order if the entire order is hidden.
     
    Last edited: Oct 29, 2019
    #27     Oct 29, 2019
  8. But if the HFTs are leaning on your order, you are not getting a timely fill and it makes getting your spreads harder.
     
    #28     Oct 30, 2019
  9. tm689

    tm689

    They aren't leaning on my hidden orders. They might be leaning on an order I am showing but the real fill I want won't be at the highest price or the size I am showing.
     
    Last edited: Oct 30, 2019
    #29     Oct 30, 2019