Interactive Broker

Hu-man

Junior member
21 0
Anyone know of a good tutorial in how to use Interactive Brokers?

I opened a small account with them and now it's where do i start? how do i start trading?

any help would be appreciated. Thanks.
 

JonnyT

Senior member
2,560 22
You could try and RTFM

The IB website contains everything you could need.

If you have any specific questions then fire away here.

The basics are:

1) If you want to trade a market then you have to subscribe to the data. i.e. Globex for ES, NQ and EUR. Some of these market feeds cost and some don't
2) Add the symbole to TWS
3) Clicking on the bid or ask price in TWS is the easiest way to enter trade data

Good luck

JonnyT
 

knorrie

Active member
148 1
Do the online tutorial on the Web site (Trader's Tutorial/Basic TWS), it covers all the basics and should get you up and running.

KenN
 

Grant

Junior member
35 0
Ib

I used IB a couple of years ago and my limit orders had a nasty habit of turning into market orders.
 

JonnyT

Senior member
2,560 22
Hi Grant,

It's never happened to me.

Maybe you had a version of TWS that had a bug in it at the time.

JonnyT
 

JTrader

Guest
5,741 506
A market order is an order to buy or sell an asset at the bid or offer price currently available in the marketplace. When you submit a market order, you have no guarantee that the order will execute at any specific price.

A limit order is an order to buy or sell a contract at a specified price or better. Using a Limit order ensures that the order will only execute at the price you specified or better, however, it does not guarantee that your order will execute.

A description of all IB order types are available under 'trade' - 'order types' at -

http://www.interactivebrokers.com/p...elp/webhelp.htm
 

Hu-man

Junior member
21 0
Got it...Thank You...i'm such an idiot...didn't look at the help section.

Another question though...I understand how to create a market line and I attempt to buy RUM, i have the limit order at 11.46 for 50 shares and i see a green light(which means that the order is being processed) but the order does not get executed. I've tried to buy this yesterday also. Is there some type of "sniping" software to execute orders quicker or what am I doing wrong? I'm trying to take a long position on this particular stock that's all. Any help would be appreciated. Thanks.

james
 

frugi

1
1,827 126
Green simply means the order is "live" at the exchange. It will only be executed if the price and size for your order is available in the market. In your case it seems nobody was willing to hit your bid at this price, therefore you must either bid higher in the hope of tempting a seller, or simply buy the current offer with a market order.
 
 
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