Which front-end for IB book trader functionality?

Discussion in 'Trading Software' started by stdy, Jan 21, 2012.

  1. stdy


    There's a Tradestation feature I'd like to duplicate in Interactive Brokers' book trader but I haven't found a way to do so. In Tradestaion's Matrix window, I can enter a limit order and then change that limit by dragging to a new price. Importantly, if the new price makes the order marketable, Tradestation still treats it as a limit order, which is what I want.

    Is there a front-end for IB that will let me do this? I looked at the documentation for ZeroLine Trader, and it appears that clicking on an above-market price (for a buy order) generates a Stop order, which is not what I want. I'm trying to understand what Bracket Trader and Button Trader would do, but I'm having a hard time figuring that out.

    Any suggestions would be appreciated. (Note: I strictly trade stocks, and it's all manual -- no automated strategies, so "no frills" is fine. Also, if I can avoid auto-recentering, that would be great; I'm always afraid I'll click just after a re-center and transmit an incorrect order.)
  2. rmorse

    rmorse ET Sponsor

    We offer Silexx Obsidian that has that feature. We can clear through ML Pro or Penson.


  3. FGBL07


    ButtonTrader will do that, you define what kind of bracket orders you want to use. Changing the limit price is a single mouse-click.
    For a buy order you will not be able to click above the current market price in ButtonTrader.

    Though of course you will be able to use break-out strategies or turn-around strategies via right-click.
  4. This just in:

    It is now possible to trade completely on emotion. Think your limit sell won't hit? Just move it 10 ticks lower. Think your stop is too high? Just move it lower so you don't get stopped out.

    All this with the click of a mouse. How novel, and a good reason to change brokers.
  5. Hoi


    That is not-correct (sorry FGBL07).

    There is a feature setting by which you can indeed click your Limit Order above the current market-price (your Order will stay a Limit, and it will execute immediatly on that price or lower).

    Email ButtonTrader support, for the settting you need.
  6. NinjaTrader_Ray

    NinjaTrader_Ray ET Sponsor

    NinjaTrader behaves exactly in this manner.

    If you have time, you can watch the training video or simply download NinjaTrader and connect it up to your Interactive Brokers account at no expense to you to try it out.