IB Futures Help

Trend Fader · May 6, 2005

If one were to place an order in futures market via IB... is it possible to set maximum number of contracts allowed to be traded at a given time??

I member a while back this function was available.. is it still there?

estrader · May 6, 2005

Are you saying you can't control yourself?:eek:

dcraig · May 6, 2005

Yes. In fact I think it's mandatory in the account settings.

illiquid · May 6, 2005

I think all it does it ask if you are sure you want the order to go through, that is all.

I don't think IB would ever go so far as to implement risk management controls that would actually prevent you from executing a trade you had the funds available for -- max position size limits, trading suspended after certain intraday drawdown reached, etc. I'm sure there's demand for such things, and they would probably do wonders in retaining customers over the long run by having risk management options, but I guess that would be going contrary to their primary business objectives, to say the least

Xenia · May 7, 2005

A few years ago they had a max-number-of-contracts restriction.
Now they use a real time 'Credit Manager' (software) to control margin.

Easy way to control risk is 2 accounts and internal transfer of funds.
Then keep only $5000 (or so) in the account where you trade futures.

Trend Fader · May 7, 2005

Quote from illiquid:

I think all it does it ask if you are sure you want the order to go through, that is all.

Where do u access this function?

Daal · May 7, 2005

Quote from estrader:

Are you saying you can't control yourself?:eek:

Its called responsible gambling, leave him alone

illiquid · May 7, 2005

Quote from Trend Fader:

Where do u access this function?

I believe it's under order defaults for each market.