I will be trading thru interactive brokers friends and family account to manage money for a few of my relatives. I was wondering if there is any tutorial that shows how to code/allocate positions to a specific sub account.
For example, if it possible to tell multicharts which strategies are for which sub account?
IB's master account allows you to allocate position as a percentage to different accounts. However since I am trading futures it is not possible to always have the right rounding, it is better that I have standalone strategy for each account.
IB Friends and Family account [SOLVED]
Re: IB Friends and Family account
You can set up multiple broker profiles for IB and then when you auto-trade, set up the broker plugin specific to the account that will be traded on that specific chart. You'll be able to now have each work space tied directly to a specific account at IB.
Re: IB Friends and Family account
tony, thanks for your advice.
Do you know how to have 1+ broker profiles connected at the same time?
I will have one strategy 100% allocated to account 1 and another to account 2. It seem that I cannot have 2 interactive brokers profile connected at the same time. Is it something to do with port numbers?
Thanks,
Brian
Do you know how to have 1+ broker profiles connected at the same time?
I will have one strategy 100% allocated to account 1 and another to account 2. It seem that I cannot have 2 interactive brokers profile connected at the same time. Is it something to do with port numbers?
Thanks,
Brian
Re: IB Friends and Family account [SOLVED]
With Rithmic I know I can set up two different profiles and then when I format the signal for each profile being traded I specify the different account numbers.
I can't speak to IB but imagine you can have multiple profiles connected simultaneously. Under file, broker profiles (forget all the settings) go to add new and create one profile for each account traded. Then on each workspace you need to specify the broker plugin when formatting each signal. That is where you can specify the account number for each.
I can't speak to IB but imagine you can have multiple profiles connected simultaneously. Under file, broker profiles (forget all the settings) go to add new and create one profile for each account traded. Then on each workspace you need to specify the broker plugin when formatting each signal. That is where you can specify the account number for each.
Re: IB Friends and Family account
Tony,
It seemed with IB, I needed to change some settings in the broker profile properties. Before making a change it was not possible to have 2 profiles connected at the same time. I guessed and made a change in "ClientID" from "0" to "1". It then works.
Anyone who is trading IB advisor account on Multicharts and need to have 1+ broker profiles connected at the sametime?
It seemed with IB, I needed to change some settings in the broker profile properties. Before making a change it was not possible to have 2 profiles connected at the same time. I guessed and made a change in "ClientID" from "0" to "1". It then works.
Anyone who is trading IB advisor account on Multicharts and need to have 1+ broker profiles connected at the sametime?
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Re: IB Friends and Family account
Hello brianhclo,
You do not need two broker profiles for that. You can have each chart configured to a different allocation profile connecting thru single broker profile.
Each chart has its own auto trading plugin settings. Please go to Format->Strategy Properties->Auto trading tab->Select broker plugin->select the profile you need->go to Settings. As you have Financial Advisor account type – you need to configure the allocations on the corresponding tab the same way it is done in TWS.
You do not need two broker profiles for that. You can have each chart configured to a different allocation profile connecting thru single broker profile.
Each chart has its own auto trading plugin settings. Please go to Format->Strategy Properties->Auto trading tab->Select broker plugin->select the profile you need->go to Settings. As you have Financial Advisor account type – you need to configure the allocations on the corresponding tab the same way it is done in TWS.
Re: IB Friends and Family account
Thanks. I figured out how it works now.
I was a little confused because when I setup a broker profile, you could specify the allocation methods as well. This is why I assumed each broker will have its own allocation method, when in fact you can have multiple allocation methods under one profile.
I was a little confused because when I setup a broker profile, you could specify the allocation methods as well. This is why I assumed each broker will have its own allocation method, when in fact you can have multiple allocation methods under one profile.