StockFetcher Forums · General Discussion · Can we talk Brokerages?<< 1 2 >>Post Follow-up
mimi
63 posts
msg #58665
Ignore mimi
1/1/2008 4:35:30 PM

One more question to Niko or someone who knows IB.

Since I am mainly doing SWING, what I need is an ability of set 3 order at once the night before.

1: Limit order to buy
2:Limit order to sell for profit
3:Stop order to sell for LC

Bracket order seems close, but not exactly....

Dose IB has this ability? or do I have to go TS?


nikoschopen
2,824 posts
msg #58669
Ignore nikoschopen
1/1/2008 5:22:50 PM

You can use the Bracket order or opt to go with OCA (one-cancels-all) order once ure main order is executed. IB offers a helluva more order types than this but I doubt anyone could or would use all that.

This particular feature you ask is widely used by the futures trader and, as such, you'll find it available on numerous DOM (depth-of market) platforms, some with very creative functionalities. For example, the following YouTube insert will illustrate the multi-bracket option available on the "AT" platform.



rnr123
16 posts
msg #58670
Ignore rnr123
1/1/2008 5:31:08 PM

I use J2 trade and I have mixed feeling about them.
(+) 2.5 a trade is cheap.
(-) I had bad execution twice with them. I called and they fixed.
Monday I sold Jade @ market at 14:41 the bid and the ask were 5.96 and 5.97. The volume was very high. I checked my confirmation it was as follow. Order submitted at 14:41:46 and execution was @ 14:46 at 5.88.
I am thinking about IB.
The only thing about IB is the real time quote fee. Inactivity fee.
I used Izone and I loved it but if you trade a lot. $5 will add up.

RNR
.

nikoschopen
2,824 posts
msg #58672
Ignore nikoschopen
1/1/2008 7:55:11 PM

The only thing about IB is the real time quote fee. Inactivity fee.

I respectfully disagree. According to IB, "if you generate USD 16.00 in monthly commissions, you will receive 100 lines of market data."

More info can be found here.

mimi
63 posts
msg #58673
Ignore mimi
1/1/2008 8:10:34 PM

Niko & Mr. thank you !!

You tube is very helpful.

happy to know that I can use IB.

I do not need ton of functions that TS offer

I am thinking IB now !

2008 looks tough year for trade... but let's remain being calm sniper!


luc1grunt
622 posts
msg #58674
Ignore luc1grunt
1/1/2008 8:16:43 PM

Any experience with Tradeking? I'm wondering about their order fill/execution and routing. Maybe options in the future. Thanks in advance.

nikoschopen
2,824 posts
msg #58675
Ignore nikoschopen
1/1/2008 8:22:04 PM

This page provides a better info about IB's exchange fees:

http://daytrading.about.com/od/daytradingmarketdata/a/IBMarketData.htm

rnr123
16 posts
msg #58676
Ignore rnr123
1/1/2008 8:24:50 PM

Thank you nikoschopen,
I am thinking IB now as well.



StockFetcher Forums · General Discussion · Can we talk Brokerages?<< 1 2 >>Post Follow-up

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