From SB to IB?

oatman

Senior member
2,879 22
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.
 

peedee

1
341 0
Mmm, so in reallity you have to trade direct to iron out any discrepencies, whats the point of third party trading!
 

sidinuk

Established member
624 5
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!
 

Skimbleshanks

1
2,325 16
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.
 

hampy

Well-known member
276 5
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
 

sidinuk

Established member
624 5
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.
 

Skimbleshanks

1
2,325 16
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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peedee

1
341 0
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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