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Questions, Pros and Cons of trading spot FX with IDealPro at IB?
- Thread starter OddTrader
- Start date
Quote from OddTrader:
How about discussing the Questions, Pros and Cons of trading spot FX with IDealPro at IB? What are they?
Wow, I am actually online right now looking at the very same thing! Unfortunately, I need to step away but will be back later. So far I don't see any negatives....
regards,
rm
Basically I do think IDealPro is a great platform, provided certain improvements have to be considered.
How about this "partial fill" issue:
"Beware - critical flaw in IB Ideal Pro"
http://www.elitetrader.com/vb/showthread.php?s=&threadid=78006
Every user could have a chance encountering this problem, isn't it? How can we avoid this problem completely?
How about this "partial fill" issue:
"Beware - critical flaw in IB Ideal Pro"
http://www.elitetrader.com/vb/showthread.php?s=&threadid=78006
Every user could have a chance encountering this problem, isn't it? How can we avoid this problem completely?
Hmmmm, also the issue of trading away from my base currency and taking a hair cut on the way back. Looks like they're upgrading to fix the partial fill issue. funny, my a.d.d. kicked in and i went straight to the end of the thread where I saw your post inquiring as to the status of that fix...guess i don't have to read the whole thread! I haven't traded currency futures yet but maybe that's the answer...
rm
rm
Quote from OddTrader:
Basically I do think IDealPro is a great platform, provided certain improvements have to be considered.
How about this "partial fill" issue:
"Beware - critical flaw in IB Ideal Pro"
http://www.elitetrader.com/vb/showthread.php?s=&threadid=78006
Every user could have a chance encountering this problem, isn't it? How can we avoid this problem completely?
Update below:
Quote from OddTrader:
A scenario is an initial order of 45,000 units with two profit-taking levels, after a partial fill of 25,000 units at the first profit-taking level the order now becoming 20,000 units.
Later even the market price has once reached and passed the second profit-taking level but it cannot be filled due to below the requirement of minimum order size.
Finally the price could reverse (Not uncommon in FX market!) back to a level of far below its initial entry price point, producing a losing position with 20,000 units.
And the trader is still required to close the losing position by using IDeal conversion with extra commission.
Please correct me for anything wrong in the above hypothetical case.
Quote from rskmngmnt:
Hmmmm, also the issue of trading away from my base currency and taking a hair cut on the way back. Looks like they're upgrading to fix the partial fill issue. funny, my a.d.d. kicked in and i went straight to the end of the thread where I saw your post inquiring as to the status of that fix...guess i don't have to read the whole thread! I haven't traded currency futures yet but maybe that's the answer...
rm
I think the partial fill issue would become lesser significant when trading orders of relatively large size, say 300,000 units. But it would be still an annoying and cumbersome issue.