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-   -   IB - Is it possible to connect orders? (https://www.englishforum.ch/finance-banking-taxation/297619-ib-possible-connect-orders.html)

martin959 11.04.2020 15:10

IB - Is it possible to connect orders?
 
Hi guys! :D

I have an interesting question for the traders here, is it possible to set of connective orders? What I mean here is to set the following orders...
  1. Set a buy trailing order - with space of 30 cents for example
  2. For then to be followed (not having bought the stocks yet...) by a sell trailing order with 30 cents as stop loss

If that's possible, life would be a lot easier :D



Thanks for your wisdom! ;)

Guest 11.04.2020 15:24

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by martin959 (Post 3170320)
Hi guys! :D

I have an interesting question for the traders here, is it possible to set of connective orders? What I mean here is to set the following orders...
  1. Set a buy trailing order - with space of 30 cents for example
  2. For then to be followed (not having bought the stocks yet...) by a sell trailing order with 30 cents as stop loss

If that's possible, life would be a lot easier :D



Thanks for your wisdom! ;)


You can do an OCO (One cancels the Other) when placing 2 orders simultaneously so if one is executed the other is cancelled

martin959 11.04.2020 15:50

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by Mr Dog (Post 3170322)
You can do an OCO (One cancels the Other) when placing 2 orders simultaneously so if one is executed the other is cancelled

The thing is that in this case what i would need is to have some sort of queues, first buys then tries to sell those that were previously bought

ZuriRollt 11.04.2020 16:04

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by martin959 (Post 3170333)
The thing is that in this case what i would need is to have some sort of queues, first buys then tries to sell those that were previously bought

I’m afraid that would go against Swiss trading (or banking) laws, since quite a bit

fatmanfilms 11.04.2020 16:08

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by martin959 (Post 3170320)
Hi guys! :D

I have an interesting question for the traders here, is it possible to set of connective orders? What I mean here is to set the following orders...
  1. Set a buy trailing order - with space of 30 cents for example
  2. For then to be followed (not having bought the stocks yet...) by a sell trailing order with 30 cents as stop loss

If that's possible, life would be a lot easier :D



Thanks for your wisdom! ;)

Do bear in mind in a volatile market a sell order may never execute, for example price $100, sell order $95, market falls to $75. You need a willing buy at $95 that may not exist.

Phil_MCR 11.04.2020 16:33

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by martin959 (Post 3170320)
Hi guys! :D

I have an interesting question for the traders here, is it possible to set of connective orders? What I mean here is to set the following orders...
  1. Set a buy trailing order - with space of 30 cents for example
  2. For then to be followed (not having bought the stocks yet...) by a sell trailing order with 30 cents as stop loss

If that's possible, life would be a lot easier :D



Thanks for your wisdom! ;)


https://www.interactivebrokers.com/e...d%20orders.htm

wantone 11.04.2020 16:38

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by martin959 (Post 3170320)
Hi guys! :D

I have an interesting question for the traders here, is it possible to set of connective orders? What I mean here is to set the following orders...
  1. Set a buy trailing order - with space of 30 cents for example
  2. For then to be followed (not having bought the stocks yet...) by a sell trailing order with 30 cents as stop loss

If that's possible, life would be a lot easier :D



Thanks for your wisdom! ;)

Anything is possible since with IB you can also write scripts (which btw it is not something difficult if you have some basic computer programming knowledge) or connect the trading with Excel where in VBA you can program whatever you like.

I established the link in a couple of days it is very straightforward. Although, I would strongly suggest against trading that way unless you can at least monitor the execution on your mobile phone.

martin959 12.04.2020 12:27

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by ZuriRollt (Post 3170339)
Iím afraid that would go against Swiss trading (or banking) laws, since quite a bit

To create a queues of orders that will trigger one after the other? :confused:

I mean, i could do it manually to create and execute one after the other, and that by any means its illegal.

martin959 12.04.2020 12:27

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by Phil_MCR (Post 3170357)

This is what i needed :D Thanks!!!!

eyebeebe 12.04.2020 17:18

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by ZuriRollt (Post 3170339)
Iím afraid that would go against Swiss trading (or banking) laws, since quite a bit

Source please? I donít doubt you, but itís very easy to write anything on the internet, so always better to give the source when you write something so definitive.

Urs Max 12.04.2020 18:18

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by ZuriRollt (Post 3170339)
Iím afraid that would go against Swiss trading (or banking) laws, since quite a bit

Why?
OP is a private person, why would any restrictions apply, and which would that be?

martin959 13.04.2020 13:45

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by Urs Max (Post 3170683)
Why?
OP is a private person, why would any restrictions apply, and which would that be?

Automated vs Manually doing the same, there is no difference for the end result... just more manual work... :p

People can buy and sell stocks freely... This is just a way to do so, doesnt make sense to make it illegal :rolleyes:

wantone 13.04.2020 15:22

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by martin959 (Post 3170941)
Automated vs Manually doing the same, there is no difference for the end result... just more manual work... :p

People can buy and sell stocks freely... This is just a way to do so, doesnt make sense to make it illegal :rolleyes:

It is illegal to place orders and then cancel them as they are moving the markets. So placing automated orders can be illegal indeed.
There is a nice SEC case against a guy recently. SEC vs Sarao (I think was the name).

fatmanfilms 13.04.2020 15:36

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by wantone (Post 3170996)
It is illegal to place orders and then cancel them as they are moving the markets. So placing automated orders can be illegal indeed.
There is a nice SEC case against a guy recently. SEC vs Sarao (I think was the name).

Orders that have not executed have not moved the market, the market moves by deals that are executed......

wantone 13.04.2020 15:45

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by fatmanfilms (Post 3171002)
Orders that have not executed have not moved the market, the market moves by deals that are executed......

Νot really. Do you know what is Level2?

Just google the case I posted and read it if you want to find out more.

martin959 13.04.2020 22:08

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by fatmanfilms (Post 3171002)
Orders that have not executed have not moved the market, the market moves by deals that are executed......

This.

How is it illegal to cancel an order that was not executed? As he said, it was canceled, it NEVER happen, therefore no impact on the market.

Please show us where in the Swiss laws says that is it illegal...

Phil_MCR 14.04.2020 13:11

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by martin959 (Post 3171115)
This.

How is it illegal to cancel an order that was not executed? As he said, it was canceled, it NEVER happen, therefore no impact on the market.

Please show us where in the Swiss laws says that is it illegal...

oh. wow. i guess i'm going to jail because i placed many orders and cancelled them. sometimes in quick succession!

martin959 14.04.2020 19:48

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by Phil_MCR (Post 3171298)
oh. wow. i guess i'm going to jail because i placed many orders and cancelled them. sometimes in quick succession!



"Straight to jail... right away." :D

ThomasSSS 16.04.2020 09:21

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by fatmanfilms (Post 3171002)
Orders that have not executed have not moved the market, the market moves by deals that are executed......

The case is real, and according to extradition appeal refusal judgement, orders were created and canceled before execution specifically to manipulated the market price. Aparently there are traders, probably with automation assistance, who look at the thickness of the order book in order to get a leg up on which way the market is going.

That said, the odds of stumbling into this sort of thing on accident are low, and it is event harder to imagine getting there with the comparatively simple bracketing orders discussed here. Also note that the judgement above brings up intent - he was very clear in his dealing with programmers that he knew that he was creating 'spoof' orders and needed features to make them more difficult to identify as such.

wantone 16.04.2020 09:35

Re: IB - Is it possible to connect orders?
 
Quote:

Originally Posted by ThomasSSS (Post 3172024)
The case is real, and according to extradition appeal refusal judgement, orders were created and canceled before execution specifically to manipulated the market price. Aparently there are traders, probably with automation assistance, who look at the thickness of the order book in order to get a leg up on which way the market is going.

That said, the odds of stumbling into this sort of thing on accident are low, and it is event harder to imagine getting there with the comparatively simple bracketing orders discussed here. Also note that the judgement above brings up intent - he was very clear in his dealing with programmers that he knew that he was creating 'spoof' orders and needed features to make them more difficult to identify as such.

Already posted this above. I am sure it happens even today but large hedge funds have leeway with the government.


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