How do I do an OTO order with IB?

[nravo]

Can't seem to find the order on the pull down menus or on the tickets? Not even listed on the type of order page. Jeeze, even Fidelity offers this.

 

[Wayne Gibbous]

IB's markets, commish, and technology blows away Fido, Schwabie, you name it.

You can do many many things with IB TWS, inluding One Triggers Other. You just hafta look:

http://individuals.interactivebroke...ing_Trades/Create_Order_Types/conditional.htm

GTTY

 

[GTC]

With IB's native default order, you cannot place an OTO order such as: if your order#1 (BUY 500sh. of PQR stock at limit price of $12.00) completely gets filled, only then place the order #2 (BUY 500sh. of XYZ stock at limit price of $11.00). Suppose you do not want to use any 3rd party tools to accomplish it, then you can use IB's API. Fidelity, Ameritrade (including Izone), etc. have this type of orders directly.

 

[DAV]

In the Alerts window, you can create an order and set trigger conditions to execution. You can then configure any security, exchange or security type as conditions.