IB TWS too complex
- Thread starter usman88
- Start date
I use the naked TWS for stocks and options and it's just fine though you have to get used to it.
I just put the stock I like on a line. When I want to buy, I click the ask value and when I want to short I click the bid value. Once the order is created under the quote line, I adjust the size and attach my auto-stop. Then I click "T"
I just put the stock I like on a line. When I want to buy, I click the ask value and when I want to short I click the bid value. Once the order is created under the quote line, I adjust the size and attach my auto-stop. Then I click "T"
Quote from usman88:
I gathered some courage and placed a trade on the TWS. Earned $90
Its not that complex. The only problem I faced was with the order wizard....
cant understand difference between 'transmit' and 'accept'
and is there any window where I can check my open orders? as in a single window which lists down open orders and some buttons to cancel 1 or cancel all?
yeah! $90 already..way to go! better than i'm today.
i'm not sure what the hell is order wizard(i'm using old 880 version),but there is typically a check box,saying something do not display this again or something like that. once you check it-you should be able to buy or sell in 2 clicks. first to create order,second-to transmit. once again-all open orders are on pending page. it is separate page,that cannot be deleted. there is a cancel all button in order tab. i think you can assign specific keys on your keyboard to perform all thins stuff.
If you're in positions for short time periods on few products you really want to be using the BookTrader. Watch the video on it, it's pretty good.
It is a more advanced alternative, but take a look at buttontrader once you want to go to the next level of order management under TWS. I have just started an eval but it is impressive. I'm not sure my trading frequency justifies the cost (it can cost more per year than some charting packages!) but it is an addictive interface. It blows away booktrader and would be such a nice addition to TWS... if you are listening IB 
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.Pretty obvious you have not read the Users Manual. Worse, it's clear you did not even look for it on their website. Here it is:
http://www.interactivebrokers.com/en/p.php?f=tws&ib_entity=llc
A piece of advice. Read the manual. If you don't, you'll be back here whining about how something didn't work, only to find out that you didn't know how TWS worked.
By the way, you discounted BookTrader, which is the fastest way to enter an order in futures.
OldTrader
http://www.interactivebrokers.com/en/p.php?f=tws&ib_entity=llc
A piece of advice. Read the manual. If you don't, you'll be back here whining about how something didn't work, only to find out that you didn't know how TWS worked.
By the way, you discounted BookTrader, which is the fastest way to enter an order in futures.
OldTrader
I wanted to know your reason on why you stopped using ninja trader with their zenfire feed for trading futures. I have been trading futures and I am currently using the ninja trader virtual account to test out their dom ladder...It seems very fast. Wanted to know why you stopped using ninjatrader as I am about to set up an account with them? I was thinking bout using IB for their low commissions but as you said it ...interactive brokers is ridiculously complex...seems like it is for quant analysts with ivy league education
According to the annual report, IB currently has something like 95,000 customers. Evidently TWS wasn't so complicated that these folks couldn't trade with it eh?
I'd say it's more a question of whether you're capable of reading the User's Manual, or watching some webinars, etc. Unless of course that too takes an Ivy League education. LOL.
OldTrader