Everything you need to know about how to use TWS is here: http://www.interactivebrokers.com/en/general/education/priorWebinars.php?ib_entity=llc
IB's bracket orders are great and I use it all the time. (I use it under Book Trader | Hot Keys) My only pet peeve is the inability to configure different bracket levels for different instruments. It seems like bracket settings are global. (at least in Book Trader they are) I haven't tried attaching a bracket to a position. I'll play around with it tomorrow to see if it's doable.
I'm glad this came up, since I am going to open a new account soon. I am interested in trading CBOT/CME futures and I would like very much to be able to enter a trade and have an OCO type order in place on the stop and target so that I can walk away. Is this offered in IB and on what products? thanks a gazillion
In advanced mode for BookTrader these type orders are already configured. Most people cannot see it because when they are configuring they do not maximize the screen. i.e. They leave it at the size it popped up or a bit larger. Therefore the description which is a bit long is not apparent and it looks like a regular order. For Bracket Buy/Sell is Left Click- Alt
personally, i hate ANY systems/utilities/software where author(s) pushes me around to pay regular monthly fee. I'd rather pay much more money ONCE, i.e. even bigger lumpsum value, because, in the long run it's MUCH MORE REASONABLE (AND CHEAPER) way to do things. Any software lease is kinda the same as banking business allowing you to pay each time just very minimal part of your credit card balance that it's immensely profitable for banks (and NOT immediately visible, but very hurtful in the long run, for customers). it's pretty bad tendency in the software industry, to lease software (especially trading software), and all active traders should be interested to look into perspective and vote by their banknotes. it's the single way to be heard. IMHO