From SB to IB?

This is a discussion on From SB to IB? within the Brokerages forums, part of the Commercial category; I'd like to use trailing stops on IB, but they seem to give a bit of warning towards these. Does ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jan 4, 2004, 4:26pm   #41
Joined Jul 2003
peedee started this thread I'd like to use trailing stops on IB, but they seem to give a bit of warning towards these. Does anybody use them without any problems?
peedee is offline   Reply With Quote
Old Jan 4, 2004, 5:04pm   #42
Joined Jul 2003
peedee started this thread The other thing was, if i click on 'orders' then click 'close all positions' does this close all positions automatically or not? Cheers, PeeDee!
peedee is offline   Reply With Quote
Old Jan 8, 2004, 1:30pm   #43
 
7 Posts
Joined Feb 2003
Have been trading TMS simulator through IB and am now ready to trade for real. I will be trading e-mini SP. I need clarification with following: Are all e-mini SP trades made in dollars at a base of $5 a contract or is it possible to trade through IB in sterling per contract and if so what sterling value per contract. Hope you can help
Regards
Peter
Mgste is offline   Reply With Quote
Old Jan 8, 2004, 1:44pm   #44
Joined Dec 2002
Er...I think you might have your wires crossed a bit.

First off, ES doesnt trade in $5 values : its $50 per full point ( i.e $12.50 per 0.25 / point )

YM (dow future) trades in $5 multiples, however.

All trades are made in dollars and IB convert them back to the currency in your trading account as you close the positions. I'm pretty sure its not possible to trade in sterling - after all, you are trading the US markets.
__________________
Please do not message me about account deletion or moderation.

For advertising issues ONLY please email advertising (at) trade2win.com
rossored is offline   Reply With Quote
Old Jan 8, 2004, 1:46pm   #45
 
sidinuk's Avatar
Joined Dec 2002
mgste,

The emini s&p500 (ES) is a standardised contract. Check out CME.COM for more details. Basically it trades at $50 per point or $12.50 per tick (0.25 pts). Of course, you can trade more than one contract at a time.

The sterling value of the contract changes with the exchange rate, there's nothing we can do about that, unfortunately!
sidinuk is offline   Reply With Quote
Old Jan 8, 2004, 1:58pm   #46
Joined Dec 2002
Peedee, where do IB give "warnings" about trailing stops??

I use them from time to time and I'm sure plenty of others do too. It's up to you how tight they are/when they start etc. The whole purpose of them is simply to lock in accrued profits as the market moves : obviously it can pull back through your stop and then continue in the original direction, but thats life mate.
__________________
Please do not message me about account deletion or moderation.

For advertising issues ONLY please email advertising (at) trade2win.com
rossored is offline   Reply With Quote
Old Jan 8, 2004, 2:02pm   #47
 
7 Posts
Joined Feb 2003
Many thanks

Peter
Mgste is offline   Reply With Quote
Old Jan 8, 2004, 3:04pm   #48
BBB
 
BBB's Avatar
Joined Dec 2003
Mgste,

I really dont want to put a spanner in your works, but you should really know all of this stuff before starting to trade real money - unless trading is more of a hobby to you.

Trading demo's provided by brokers are well known for making people rich on paper very quickly so they start paying commissions asap. Maybe you should try paper trading off real data first?

Either way, you must understand the basics like tick value, lock limit markets, roles of participants etc. Take your time. It will be worth it in the long haul!!

Good luck.
BBB is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
quote tracker and IB prometeo1984 Brokerages 12 Sep 28, 2009 7:09pm
IB dax market data WinstonSmith Brokerages 2 Jun 20, 2007 12:06pm
IB and Amibroker Stevemaster Trading Software 0 Jun 11, 2007 1:35am
Have your SB company ever rewarded you with a freebie? hobby Spread Betting & CFDs 3 May 25, 2007 3:45pm
jTWScharts for IB now with Forex orionn Trading Software 0 May 16, 2007 10:57am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)