From SB to IB?

This is a discussion on From SB to IB? within the Brokerages forums, part of the Commercial category; Can't see the problem with TWS. Like all "new" things it takes a short while to get used to, but ...

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Old Dec 31, 2003, 4:32pm   #16
 
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Can't see the problem with TWS. Like all "new" things it takes a short while to get used to, but after that it's point/click/ trade.
You don't have to use all the extras.
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Old Dec 31, 2003, 4:36pm   #17
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peedee started this thread Mmm, so in reallity you have to trade direct to iron out any discrepencies, whats the point of third party trading!
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Old Dec 31, 2003, 4:39pm   #18
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peedee started this thread Hi Oatman, i guess i'll have to put the effort in, which i'm prepared to do. PeeDee.
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Old Dec 31, 2003, 4:50pm   #19
 
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The benefit of 3rd party trading via API is to be able to automate tasks that TWS can't do. For example having an auto-chase on a limit order. In this respect TSIM is quite pointless as it doesn't add anything it just looks better, you still have to check that your orders are going through ok so you might as well just use TWS.

The best frontends I have found are NinjaTrader and BracketTrader. BracketTrader is the simpler of the two (and free). To be honest if you find TWS confusing, NinjaTrader will probably blow your mind.

Put the time in and get used to TWS, it's certainly the most reliable way to trade!
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Old Dec 31, 2003, 4:59pm   #20
 
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I don't use any frontends, just TWS.

Just reading posts on these and other BBs, it seems to me that those who are using them are doing so mainly because they need to have the reassurance that a stop is in place within a second of them entering the market. In other words, they've got fear. Just an observation, not an accusation.
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Old Dec 31, 2003, 5:01pm   #21
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TWS users,
I'm about to open an IB a/c and would like to learn how to use it properly. Does anyone have any suggestions as to the best place for a total beginner to start learning how to use it
Thanks,
hampy
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Old Dec 31, 2003, 5:07pm   #22
 
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hampy,

just play around with the demo version.

I think what puts most people off TWS is that they are used to the simplicity of spreadbetting where you either buy or you sell and that's it! With IB you have far more order options (stops, limits, stop-limits etc) and you need to understand how these work. IB's own documentation is pretty clear.
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Old Dec 31, 2003, 5:10pm   #23
 
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Use their demo. It's available via the website, and while it runs off delayed prices, it's wonderful for learning how to get up and transmit orders, stops, etc.

I keep mine very simple - all I do is hit the T button to transmit a buy or sell at market.

All the default settings are changeable - I always use market so that is my default.
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Old Dec 31, 2003, 5:16pm   #24
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Thx folks,
Will take a look,
hampy
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Old Dec 31, 2003, 5:24pm   #25
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peedee started this thread What does anybody think about IB demo trade platform, i know its 15 minute delay, thats not my issue, there seems to be two ways of execution( i may be wrong about this ), theres the bit above the ticker section and then theres the order 'button' at the top if my memory serves me right. The bit above the ticker section seems as though its a straight market action, quick and easy, buy or sell where as the the top bar...well i dont know, can anybody shed any light on this. Cheers, PeeDee.
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Old Dec 31, 2003, 5:27pm   #26
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peedee started this thread Skimbleshanks, i hope youve got a lot of patience, thanks in the mean time. PeeDee.
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Old Dec 31, 2003, 5:28pm   #27
 
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Read the instructions, peedee.

Print out the TWS manual/instructions, and read them. Only way to understand.
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Old Dec 31, 2003, 5:30pm   #28
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peedee started this thread What is auxillary price? if thats what it means.
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Old Dec 31, 2003, 5:32pm   #29
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peedee started this thread O.K., if i have any problems i'll ask, please dont cringe! PeeDee.
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Old Dec 31, 2003, 5:33pm   #30
 
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I'm not cringeing, but I reserve the right to hide.
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