Interactive Brokers

This is a discussion on Interactive Brokers within the Brokerages forums, part of the Commercial category; Newbie mentoring with 4 large screens to accomodate 48 contracts?????? To me -my opinion- this would flash 48 warning lights ...

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Old Dec 10, 2010, 6:29pm   #1593
Joined Jun 2003
Re: Interactive Brokers

Newbie mentoring with 4 large screens to accomodate 48 contracts??????

To me -my opinion- this would flash 48 warning lights and 4 sirens of 4 octaves each!

Sorry, just my opinion.

All the best

Hittfeld
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Old Dec 10, 2010, 7:03pm   #1594
Joined Dec 2010
Re: Interactive Brokers

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Originally Posted by Hittfeld View Post
Newbie mentoring with 4 large screens to accomodate 48 contracts??????

To me -my opinion- this would flash 48 warning lights and 4 sirens of 4 octaves each!

Sorry, just my opinion.

All the best

Hittfeld

According to him, rather than trade one contract like CL and make a profit there, for example, which could take hours because of "fishing", it's better to trade on multiple contracts to increase odds of a profit, especially ones that are relative to another. Let's say I take up CL and made the trendlines and positions using my 6 timeframes (1 min, 5, 15, 60, 4 hr, Daily). I then go back and look at the 48 charts at a glance (usually minute charts) and find another one of interest (rather than just look at the numbers in the main window). Open up the contract with the 6 timeframes and then take my trendlines and/or positions there. If I see a movement in Heating Oil when i return to my 48 contract charts, it may affect my position on CL, so I check both contracts to see what's up. And so on and so forth.

Switching from one contract to the next isn't a problem as I arranged my 6 timeframe windows in one group so it's easier to swap contracts. The problem would be trendlines as they can only be saved as a Setting and it takes about 30sec-1:30+ to reload each setting with IB.
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Old Dec 10, 2010, 10:00pm   #1595
 
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Re: Interactive Brokers

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Originally Posted by BillieJean View Post
We currently have 4 large screens so to accommodate the 48 contracts we need, though the problem with loading all those contracts at once is that it really slows the PC down. My PC runs on a Pentium 4 3.4 Ghz Processor and nearly 4 GB of RAM. But from what I'm told, even if we invest on a PC with a Quad Core Processor, it will still slow down because IB uses Java.

We used to have Ensign software to provide us with charts, but it's a pain to use because the charts are inaccurate and usually gives bad ticks - a lot. Metatrader is another, but the number of contracts we can get off it a so limited. Activetrades is the only broker I know that even provides Futures contracts.
I'm suggesting you try NinjaTrader, it will probably do what you want, if that's what you really want to do. You download the trial version first and hook it up to IB TWS. You can get excellent help from their support forum.

Others might suggest other packages, but that's the one I know. Alternatively just google for "interactive brokers charting package". It won't matter that IB is Java if you use another package to hook up to it and run the charts.
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Old Dec 11, 2010, 8:29am   #1596
 
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Re: Interactive Brokers

This issue is now sorted, while I was subscribed to the data, I didn't have approval to trade those specific instruments.

Now for my next problem.

I'm using the Conditional Orders page in DDE API

A normal order is a conditional BUY with 2 bracketed SELLs (Profit & Stop).

Initially, all is fine - when the BUY order is activated and filled, the relevant columns are correctly populated i.e. Status, Filled, Remaining, Avg Fill Price, Last Fill Price.

However, if the spreadsheet is closed and re-opened, these columns all show a value of 0 even though the position is still open.

Given that there is a test for equality between Order Quantity and Filled before a bracket SELL order is activated, a SELL order is never going to happen.

Any ideas, please

Graham


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Originally Posted by grahamj View Post
This is my first post so, if I am posting in the wrong place or there are any other issues, please let me know.

The strategy that I’m testing at the moment is to trade US Options with entries and exits based on price action of the underlying Stock.

To achieve this I’ve been experimenting with the paper trading account and IB’s DDE API using conditional orders for both entry and bracketed exits (stop and profit).
I’ve watched the webinars, read the documentation, had some communication with API Support, and generally experimented a lot but it seems to be very much “1 step forward, 1 step back”. So, I’m hoping to benefit from some real world experience.
One of the hindrances to progress is that the US market is open when I should be sleeping, so I’ve just taken a subscription to ASX data so that testing can proceed during my proper waking hours.

Please bear with me as this is going to need the issues dealt with as they arise.
On Friday, I set up some test BUY trades and was watching the screen (Conditional Orders tab) when the condition changed to TRUE – instead of the order being processed (Transmit was set to 1) the Order Status changed to “Inactive” and stayed that way even though the market was open. And nothing happened in TWS.

The IB documentation is not very enlightening so, can anyone please give me some guidance as what may have caused this status of “Inactive”.

Graham
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Old Dec 11, 2010, 9:40am   #1597
 
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Re: Interactive Brokers

I have an account with IB. I am looking for a tax accountant in UK who will understand IB statements and prepare my capital gains tax submission. Please pm me with some information or suggestion you have. Thanks Much appreciated
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Old Dec 15, 2010, 10:30pm   #1598
Joined Dec 2010
Re: Interactive Brokers

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Originally Posted by Adamus View Post
I'm suggesting you try NinjaTrader, it will probably do what you want, if that's what you really want to do. You download the trial version first and hook it up to IB TWS. You can get excellent help from their support forum.

Others might suggest other packages, but that's the one I know. Alternatively just google for "interactive brokers charting package". It won't matter that IB is Java if you use another package to hook up to it and run the charts.

We decided to try using Ensign Software for charts as my mentor is familiar with it (the really OLD version, at least). Now it's just a matter of figuring out if IB and/or Ensign can provide Interday Trends such as Advance/Decline Graphs, Trins, etc.
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Old Jan 13, 2011, 11:04am   #1599
Joined Nov 2009
Re: Interactive Brokers

I am quite a newbie. I want to ask is IB really reliable?

I lives in Hong Kong. Today I placed a sell market order for one of my stocks in the last minute before the market close.

What came out is that, instead of traded in the bid price, only some of my stocks were sold in the ask price. I bet they transmit my market order as limit order. But how can that be? Shouldn't they match my order with the biding queue and fill all of them immediately?

I called the customer service and the other side called she would have a look and would call back later. However, I received no reply and their office is now closed.

Moreover, I'm not able to login my account management now.
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Old Jan 13, 2011, 11:20am   #1600
 
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Re: Interactive Brokers

IB is normally very reliable.

I have no idea what the Hong Kong Stock Exchange execution mechanism looks like, so you might be right, or you might just be unlucky if it's a thinly traded stock. I know IB has a Hong Kong markets disclosure document which we are all meant to read - maybe it's got some useful info in it.

re customer service - they're not so hot. You have to keep hassling them.

re account management website - you should have 24 hour access but I found they have bugs in their website. Try logging in with a different browser.

By the way in Hong Kong you are right on top of their Far East servers. You should be able to get great connection speed.
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