Interactive Brokers Tutorial: Everything you need for Order Entry on the new IBKR Desktop Platform!

[@satinderbank4607]

Looks like an interesting addition to TWS and Client portal. Thanks for taking the time to do an exhaustive platform demo. Wondering if it has all the bells and whistles of option stop losses - available in TWS advanced tab. will definately look it up in the paper trading platform. Thanks.

[@mavericktrading]

Our pleasure! Yes you can place stop losses on the options directly. Just point and click the option you wish to sell. Then change the order type from "limit" to "stop" and put in the stop loss price. Keep it up!

[@cluggyahoo]

Nice video, thank you. Can i trade futures with that new platform ?

[@mavericktrading]

Yes you can!

[@MeanDaGreenScreenBra]

Do you know if there's a way to take a partial take profit (e.g. a sell limit order for 50% of position you're long on)? I know TWS doesn't allow this, but was hoping they might make it available for their new platform thing they're building here.

[@mavericktrading]

If you enter the take profit order attached to the entry at the same time, no. Just enter with your first order and put in a separate sell LMT after and you can choose position size. Annoying but not a big deal.

[@MeanDaGreenScreenBra]

@@mavericktrading Hmm, I might try that. Thing is i'm in a time zone where i'm asleep for most of the trading session, so I place buy STPLMT orders with an OCO sell LMT and sell STP in ThinkorSwim. Been trying to do this with TWS. If I put in the sell LMT and STP orders independent of the buy STPLMT order, I believe a few weird things could happen, like a gap up over the sell LMT would make me short on the trade or even a strong enough move down could make me short on the sell STP side. Hope that all made sense.

[@MeanDaGreenScreenBra]

@@mavericktrading I think that may not work for what I'm trying to do though. I live in a time zone where I'm asleep for most of regular trading hours. So I place all my orders the night before. I set a buy STPLMT order with an OCO sell LMT and STP that is triggered only if the buy STPLMT order is filled. The purpose of the sell LMT is to freeroll the trade, so I need the ability to edit the position quantity. I'm able to do this in ToS, but not in TWS. If I place separate sell LMT or STP orders I think I could find myself in a weird situation where I'll be short a stock when I never intended to be.

[@mavericktrading]

​​⁠ one trick our traders use is to place two entry orders and split their position sizes in half. One order has the bracket order attached and the other has just a stop. This way, you have a take profit on half (or whatever portion) and the remainder is free to run.

[@MeanDaGreenScreenBra]

@@mavericktrading oh wow. That's genius. I'm definitely gonna give that a try. Thanks!

[@paomaipress]

why this IBKR platform different from others? looking very nice.