IB API (again....)....

A

amigasearch

I know this question may have been presented before, but could not find it.
Currently, I have realtime feed to Mytrack. I use their SDK.
Works fine, but has been flaky lately (mytrack is not really helping resolve some user issues, and their seems to be uprising, but not much happening from Mytrack changes).
I plan to live trade futures in the next 6 months, with account at IB.
My system is automated - pattern recognition trading only.
So, based on a model that trades tick by tick, can anyone tell me how "fast" the IB API calls (I use VC 6) are?
I need to get data as fast as I request it (you know within a second).
Is their API quotes / order entry a good speed? Anyone else using them for this type of methods?

Thanks.
 
Quote from amigasearch:

Hello again.
Just wondering if anyone is using IB for automation trading, and quotes. How is the experience?
Thats it.
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Download and install IB's sample DDE spreadsheet and TWS and login to their demo. I don't believe that you need an account to do either of these things and their demo stuff is really useful. This should answer many of your questions, although when it comes to documentation it's rather light (as in "none"). You can find stuff on the API section of the web site though.

I have no interest in auto trading or futures (I only trade stocks), so I can't comment on either of the former, except that I believe that on IB it's not completely auto: you need to manually confirm each trade before it is accepted in the system (for legal reasons probably).

I used the spreadsheet for a while, by cloning my own sheets on it, removing some stuff, and linking/experimenting with it. It's got auto trading, conditional order entries etc... It's somewhat the Swiss Army knife of spreadsheets, and it's very kludgy in many ways but it's essentially a demo and so there is not much room for complaint: you can get your account info, get quotes etc...

The feed is very reliable and accurate, albeit limited to 40 quotes on the API side.


Elvis
 
Quote from ElvisOnMargin:

I believe that on IB it's not completely auto: you need to manually confirm each trade before it is accepted in the system (for legal reasons probably).
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Nope. I hit the buy button three times today on my VB.Net app and TWS bought for me (three times) with no interaction. After each, it sold for me three times at the press of one button on my VB app. The TWS API is blazingly simple. Just don't use it as some sort of tick-level quote feed.
 
Quote from TGregg:


Nope. I hit the buy button three times today on my VB.Net app and TWS bought for me (three times) with no interaction. After each, it sold for me three times at the press of one button on my VB app. The TWS API is blazingly simple. Just don't use it as some sort of tick-level quote feed.
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Thanks for the clarification: I stand corrected. My info was second hand on this: as I have mentioned, I don't auto trade. Some people were complaining on one of IB's API boards about having to manually hit a confirm on each trade entry and I thought that it was standard.

Elvis
 
Quote from ElvisOnMargin:



Thanks for the clarification: I stand corrected. My info was second hand on this: as I have mentioned, I don't auto trade. Some people were complaining on one of IB's API boards about having to manually hit a confirm on each trade entry and I thought that it was standard.

Elvis
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LOL no worries. I've been 100% wrong before on this board as well, and expect to be so again. That was indeed a rumor that was floating around. I apologize if I was a tad harsh - it's past me bedtime and all. Good trading to you in the morrow.
 
It was that way for options orders, as required by the exchange rules. I don't know if it has changed.

Automation for order handling and quotes is plenty fast for all but the most extreme trading.
 
I thank all of you for your experience. I will look at what they have to offer - I had no idea that it could be downloaded without opening an account. Thats why I asked, because before i opened an account with them, I would like to at least know the API is worthwhile. Otherwise, for backup quotes and order entry I would seek out a different, and likely a seperate source.

Mytrack, which I use now for quotes, is very good, but their API doc. is poorly done, and to send orders to them, using this spec, will make me a little nervous.
Thanks again.
 
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