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Interactive Brokers Short Cut question

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14 June 2013
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Hi All,

I would much appreciate your help here. I'm trying to set up shortcuts in Interactive Broker simulator.

Here is what i did. In configuration page I assigned "Current Key" shortcut as F1 button for 'Buy MKT with Stop'. Than in Advanced tab following:
Action - Buy
Size - Default
Order Type - MKT

Attached Stop Order:
Order Type - selected STOP
Stop Price - selected Ask than +/- (-3) amt

Ticked the box Transmit the order instantaneously.

PROBLEM


When I press F1, order get executed in DOM and I can see that stop order seatting 3 poitns below of my execution.
When price riches that stop order for some reason it is not kicking in and remains there forever.

Is anyone can help me? what did I do wrong ??? :banghead: I"m trying to set it up so that stop order acting as a Stop Loss order.

Same problem with sell order.
 
Hi All,

I would much appreciate your help here. I'm trying to set up shortcuts in Interactive Broker simulator.

Here is what i did. In configuration page I assigned "Current Key" shortcut as F1 button for 'Buy MKT with Stop'. Than in Advanced tab following:
Action - Buy
Size - Default
Order Type - MKT

Attached Stop Order:
Order Type - selected STOP
Stop Price - selected Ask than +/- (-3) amt

Ticked the box Transmit the order instantaneously.

PROBLEM


When I press F1, order get executed in DOM and I can see that stop order seatting 3 poitns below of my execution.
When price riches that stop order for some reason it is not kicking in and remains there forever.

Is anyone can help me? what did I do wrong ??? :banghead: I"m trying to set it up so that stop order acting as a Stop Loss order.

Same problem with sell order.

I suspect the way you have it set up, when stop order is triggered, it joins the queue at the back of the ASK. What you potentially want is for the stop order to go and hit the BID to get you out of the position (Note that this means you will have a 4 tick loss, rather than 3 ticks).

With the attached stop order, try

Order Type : Stop Limit
Stop Price: ASK +/- 3 (amt)
Stop-limit price: Bid +/- 5 (amt)

This will also "chase" the BID down as much as 5 ticks. It may be fine in most normal situations but if the market gaps or is too thin for your volume, you can suffer slippage.

I haven't actually play around with these for a while so please report back if the above works.
 
SKC thanks for the guide. I found out that order type drop down box didn't have stop limit. That bit is fixed now and i was able to make it as per your instruction.

Now another problem is came up. When i'm drugging that stop loss order in DOM. The Lmt Price remains the same and only AUX.Price is changing. That would be fine but when the price riches this AUX. Price, DOM is not executing the trade.

Any Idea?
 
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