IB Book Trader

Quote from chinook:

Pete,

I'm not very clear about your question. For the stop-limit part, can't you guys make both the stop trigger price and the limit price user selectable?

Thanks,

Chinook
More...

Let's say you click on a bid-price with the bracket-order hotkey. Three orders would get created:
1) the main buy lmt order, at the price you clicked on
2) a sell "profit-taker" lmt order, a little above the price you clicked on
3) a sell stop-lmt order; the trigger price will be a little below the price you clicked on; should the stop-lmt price be set to the same as the trigger price, or should it be set a little below? If below, how far below?

Is that more clear?
 
Quote from Pete - IB:

Let's say you click on a bid-price with the bracket-order hotkey. Three orders would get created:
1) the main buy lmt order, at the price you clicked on
2) a sell "profit-taker" lmt order, a little above the price you clicked on
3) a sell stop-lmt order; the trigger price will be a little below the price you clicked on; should the stop-lmt price be set to the same as the trigger price, or should it be set a little below? If below, how far below?

Is that more clear?
More...

Pete,

OK. I understood your question first time. By default, for order 3), the stop limit price can be set to 4 ticks below the trigger price. But also in the Book Trader shortcuts menu, we should be able to fully customize the trigger and stop limit prices.

Thanks again,

Chinook
 
PETE-IB,


I know you guys are working very hard on book trader. It is really a nice to trade with. Is it possible in your next version you can add little bit more features on it. Like your position, your entry price etc. etc.

I used it today first time in real time and I liked it.
 
Quote from Pete - IB:


3) a sell stop-lmt order; the trigger price will be a little below the price you clicked on; should the stop-lmt price be set to the same as the trigger price, or should it be set a little below? If below, how far below?

Is that more clear?
More...

Hopefully you can have a choice as to what the offset is between
the trigger price and the stop-lmt price. And you should be able to
adjust this specified offset for every market you trade (ES,NQ, ect.)...
And it would be nice to have the ability to have different
strategies (stop-lmt offsets) (targets) for each symbol...

If you can only have one offset for now, make it at least 16 ticks...
 
Well, for what it's worth, I cannot even download the new TWS
that has the Book Trader on it, all I get is a "Could not communicate
to the network server, error 0. File not completely downloaded."
 
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