book trader vs button
- Thread starter tentenequals20
- Start date
I like BookTrader a lot; however, the glaring omission is that auto-attached stop and target limit orders set up through the hotkeys only allow offset values to be specified in terms of price and not in terms of ticks. This is fine if you only trade stocks, but if you trade a variety of futures products it makes the attached orders useless (e.g., a $0.20 offset that works for crude oil will not work for the mini-S&P, Euro FX, bonds, and many other products). This tick-offset feature has been added for orders created through the portfolio page, but it's more important with BookTrader where speed of order entry is critical.
BTW, I have already submitted this suggestion to IB's New Feature Poll, so please go vote for it if you agree:
http://www.interactivebrokers.com/en/general/poll/poll.php?ib_entity=llc#cat_tws
It's suggestion number 2059, search by contributor name "jango".
Yes, I agree, it makes life so much more comfortable and it lessens stress so much as to give a real edge.
The new (868) version of Booktrader fails to impress, I'm sorry to say. There are some slight improvements but in general it is more of the same. I'm now unable to use the status column to click-in orders, because it isn't there (in advanced mode).
Also, a order column is inserted whenever an order is placed, so the appearance of the DOM changes everytime you do that, which is not what you want; the DOM is your grip on reality and it should look the same all the time, imo.
Still a looong way to go before it comes even within shouting distance from Buttontrader. How someone can consider them comparable I do not understand. I think they do not 'get' the real possibilities that BT offers.
Besides from being an excellent DOM for trading futures and stock, it also encapsulates some of the quircks of TWS and IB. I think Hoi, the programmer, knows more about the inner workings of the IB trading platform than the guys at IB themselves.
Ursa..
To be fair, BT adds columns too of course, for every running strategy. But they are opened to the right of the DOM in a special grid that is already there even before the strategy is started. The DOM thus stays where it is.
In TWS Booktrader the columns are added to the left of the DOM, inserterd is a better word. The DOM has to make room and moves to the right. When autowidth is on for the columns, matters are even worse, but that can be switched off (I guess).
It would be a good idea for IB to buy out Buttontrader and make it the standard DOM for TWS. Let's hope that A-turd doesn't beat them to it, like they did with Quotetracker.
Ursa..
Buggy. In Advanced Order Mode entering Bracket Orders, set a lmt buy price in the outside price (where ppl are lining up for a better price) and drag the order price way above the inside price. You will see your order executed and you got the price at where you drag the lmt by price to, which is not correct. It should really be the price (cost) of your order. I
Also, another buy, when you have a bracket order (alt-mouse click on buy). When you have a position, use Close Button (with transmit imediately). It will give you a prompt about cancelling order (2 options box). Choosing Neither of the option will exit your position. You have to click the close position* button again to exit position. That is a major killer if you need to exit right away.
Also, another buy, when you have a bracket order (alt-mouse click on buy). When you have a position, use Close Button (with transmit imediately). It will give you a prompt about cancelling order (2 options box). Choosing Neither of the option will exit your position. You have to click the close position* button again to exit position. That is a major killer if you need to exit right away.