Can you set a daily buy limit for an IB account?

[Sam Mcgee]

Is there a way to limit the dollar amount or number of trades in an account for a single day? I have a trading system where I send 40 limit buy orders each morning. Typically only a few of the buy orders get hit each day. However, if more than 10 buy orders get triggered, I'd like to stop any more buys from getting triggered. Alternatively, it would work if I could just set a daily dollar limit that could be bought each day for the account.

 

[Truckmorrisanathoy]

I am not sure if I have interpreted this correct, but from what I understand you are referring to setting up a buy limit order. I always do this while trading as it makes things much easier. Only when the price gets to the level I have set, the order gets triggered not otherwise. Like on my last order I went long on EURUSD and set a buy limit order below the exchange rate in hopes of getting a better price and it worked wonderfully. I haven’t used IB but I do this with all brokers that I use - Fxview, Ameritrade, Etrade. The only downside is that not always the order gets filled. As a solution what I have figured the best thing to do is to spot an uptrend and wait patiently for resistance breakout. Placing buy limit order where the resistance turns into support is something I recently started doing with fxview as a trial and after seeing the results plan on replicating this with my other 2 accounts as well.

 

[ZBZB]

Is there a way to limit the dollar amount or number of trades in an account for a single day? I have a trading system where I send 40 limit buy orders each morning. Typically only a few of the buy orders get hit each day. However, if more than 10 buy orders get triggered, I'd like to stop any more buys from getting triggered. Alternatively, it would work if I could just set a daily dollar limit that could be bought each day for the account.

Your own code could cancel the orders by sending the instruction via api.