I just opened a small account at IB to trade e-mini's cheaply

[TimtheEnchanter]

I have a question on orders. It seems IB does not take stop order for futures! Also, their bracket is defined but somehow underneath there is a "one cancels the other", I thought that was automatically done on bracket orders.

EDIT: I have noticed that on the order book there is an option for stop orders.

 

[RedDuke]

Of course it does take stop orders.

 

[Millionaire]

I have a question on orders. It seems IB does not take stop order for futures! Also, their bracket is defined but somehow underneath there is a "one cancels the other", I thought that was automatically done on bracket orders.

IB Bracket orders are built up from regular orders. That are joined together using a parent/child sort of relationship. And then a OCA group for each part of the bracket.

I prefer this way of doing it, although i dont use IB anymore, it allows you to build up custom brackets orders when using the API in a more flexible way. Rather than in a specific way that was designed by the API developers.

 

[TimtheEnchanter]

I don't know...simulated trading is not working on tws (I am using Mosaic). I am short one contract and buying at the market I am still short, no matter what I do. I cannot use this with real money...

 

[Millionaire]

I don't know...simulated trading is not working on tws (I am using Mosaic). I am short one contract and buying at the market I am still short, no matter what I do. I cannot use this with real money...

Are you using TWS directly, and not a third party front end?

I always developed my own front ends using the API.

I never got used to TWS always found it hard to use directly and error prone.

Although trading off the charts gui or the market depth/ladder gui seemed easier than entering orders in other ways..

 

[TimtheEnchanter]

I am using it directly. I will try the chart...

 

[Millionaire]

I am using it directly. I will try the chart...

There seem to be a few youtube videos on how to use TWS probably also tutorials on the IB website.

 

[Real Money]

I use hotkeys for order execution. I have a key for each instrument...NQ, ES, YM, RTY, and UB. Then I use Ctrl and Shift as modifiers for Buy/Sell. You can be very fast with TWS. I use the API for Excel charting.

You can also right click the position on in the portfolio window and hit close > submit to execute at the current market with a limit order.

 

[Bad_Badness]

It does. Go through the videos. Also Outside RTH is different in what orders work or where they sit (server) on the Simulator.

 

[David's faith]

Use STP PRT (stop protection) orders. There you go, buddy. However you can not choose them as bracket orders directly. It is a missing feature unfortunately.