Help on bracket orders using IB

Is there a way to pre-program the bracket orders in IB so that when you buy a stock, it automatically sets up a sell order let's say 50 cents above and the stop order 25 cents below the buying price?

I'm looking to do some scalping but this TWI order entry is rather time-consuming and hard to keep track of if you are in multiple stocks at the same time.

Thanks.

 

Send me an email... I think I can help you...

christianhgross at gmail.com

 

http://www.bracket-trader.com/

 

Why not just post it here? Can't be a state secret.

Hey, you're not *the* Christian Gross, are you?

 

I agree that bracket trader is a good one. may not be the best, but good enough. I am using it. I found it is quite reliable and easy to use.

 

Yes, I do this all the time, with different limits than yours in IB's book trader. If you look at the preprogrammed mouse commands it's Alt-Left Click on size.

But I programmed custom buttons in book trader to get a more sophisticated bracket order.

The current book trader is quite robust and versatile. It is worth taking a look at.

 

Here is another of my favorites
http://www.autotradersoftware.com/

 

BracketTrader is NOT is a bracket order...

From BracketTrader itself:

Bracket Trader is a powerful API (application programming interface) front-end to
control Interactive Broker's Trader Workstation (TWS). Exit orders are automatically
sent the moment a trade entry is filled. The exit is sent as a pair of OCA (one
cancels all) orders, with one on the profit side, and one on the stop loss side. The
program just duplicates what you do manually to manage your trades but does it
faster and eliminates human "mechanical" errors in your trading.

A bracket order is one where upon submitting of the order the stoploss and profit order are submitted at the same time.

While BracketTrader is not bad persay, there does exist the possibility that you are left hanging in the wind due to network disruption and not having exit orders.

 

You mean the football coach? Nope not him. Though I have a long and funny story regarding that...

Otherwise, why not post it? Because it would be advertisement for a piece of custom software. I implement solutions for clients and a common request are adjustable bracket orders...

 

I found out how I can add a bracket to an existing ORDER, but is it possible to add a bracket order to an existing POSITION?

Thanks

Andy