Also, you can now play with the interface of the upcoming TRADE . You won’t be able to send orders as the accounts cannot be enabled yet, but you can (hopefully) see the great advantages that TRADE will offer. For example:
Click on TRADE->New Order and add a few tickers
Then go to a Portfolio and do a Rebalance, then click on TRADE (instead of Submit)
All orders are combined together and ready to be sent to your broker
NOTES
-You can also see how the scheduling of orders will work.
-GET QUOTES is not fully functional. We’ll be doing a lot more work like adding charts.
-Please see the update documentation in TRADE->WHAT IS TRADE?
We expect to have a real release next week. In the meantime you can prepare your Interactive Broker account by following these steps
Looks good!
Would it make sense to create a Community Forum specifically for Trade? I am very interested in seeing feedback/comments from existing/experienced IB users on how it works.
Cool. Thanks. I see that you all have been busy. And it looks like it’s coming along. Some initial questions (thinking out loud, so hope they make sense):
Can we be able to set up ‘custom options’ for some ‘default settings’…for certain order types. For example, for limit orders, can we always have the initial order entered at our ‘default settings’, for example - last close +X% for buys and _X% for sells. If we could save some settings for these…and then attach these settings to a system, will likely streamline the process further.
1B. Any way to dynamically adjust the orders for a given portfolio intraday / over the trading day - besides VWAP? For example…first order at open is…last close+X% on buys as initial limit…but adjusted to ‘limit at last trade on close’ if not filled and the current price is < open+Y%?
What is the formula for VWAP 1%? I know what VWAP is…so is this adding 1% above current VWAP price for buys and subtracting that same amount for sells? If yes, can we have more options to set how we’re trading…at least to set our custom default settings (a similar set of options, for example, as exist in the IB accumulate / distribute trade entry)? At a minimum could we set the amount above VWAP we’re willing to pay and have it adjust over the course of the day? For example VWAP +.25% for first 4 hours and then VWAP + .5% for next 3 hours, etc.
I was imagining that the template for setting up our orders would look more like IB’s ‘accumulate / distribute’ trade entry. For example…maybe we want to try to buy at a max. of VWAP or at Open. Or buy at a maximum of VWAP or at previous close + .25% or whatever. So…just wondering what’s planned in terms of more advanced options where we could input parameters for how we wanted orders submitted?
Could we set ‘link’ order type to a live port? So, every time we rebalance a port. it initially has beginning default settings?
manually entering trades independent of a strategy
basic order types
Tom, we’ll default the limit price to prev close for now.
See the VWAP description in Order Type docs . 1% refers to volume, not price. It means that the algo does not participate if your order exceed 1% of the trading volume. How IB actually does it is proprietary. It divides your order up in smaller trades and executes them throughout the day as long as your order volume is below current trading volume, but actual implementation is proprietary
There will be many future enhancements as requests come in, like follow up orders if the initial order failed. All doable
This is impressive. Quick question, how would one go about making sure that the trade account and the live portfolio are in sync from an account balance perspective? I am fairly new to live portfolios on P123, but other software I have used allows me to update the current account balance so that the proper number of shares are computed. Is there a similar concept here? Thx.
The “Key Ratios - Rank vs Industry” panels calculates Industry ranks by excluding stocks below 25M in MktCap and throwing out NA’s before ranking. This is a bit confusing since it makes it hard to compare with, say, the screener output. Not sure why we had this special behavior for panels.
