Best IB order type for large day-trading orders

[max21ge]

Hi,

I run automated day-trading strategies through API and so far I've used plain market orders and it has worked pretty well. I'm trading max north of 8,000 shares planning to go up to 40,000 shares and I'm worried I'll start to have a larger market impact. I trade top gainers and losers for the day and large caps and index ETFs. Wondering which algo IB order would be the most suitable? Same question for stop-loss orders?

thanks!

 

[ZBZB]

You could add a few cents to a limit order in code.

 

[max21ge]

thanks that could work but it has some caveat as i might want to change it based on price, volume, spread, time of day which I would need to code. I've discovered so many IB algo order types including Fox River, CSFB, Jefferies etc...and wondering if anyone has experience with them for large day-trading orders?

 

[guest_trader_1]

There are a few algos available to improve order placements

https://interactivebrokers.github.io/tws-api/ibalgos.html

 

[nooby_mcnoob]

IMO IB's adaptive algos are really good and probably the only thing they do where I didn't immediately go WTF.

 

[longandshort]

Adaptive and midpoint are good, but I would look to vwap over 1-15 min depending on your timeframe.

 

[ZBZB]

You could add a few cents to a limit order in code.

Then go market if not fully filled.

 

[max21ge]

thanks all do any of you have experienced a certain threshold (volume, size, last, etc...) where an adaptive order leads to some big differences vs. a plain market order?