Interactive Brokers Broker Profile: Difference between revisions
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Interactive Brokers Broker Profile (view source)
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Native OCO-group is used when the broker’s plug-in supports OCO-groups. In this case all OCO orders are sent to the broker directly and unfilled OCO orders will be cancelled by the broker. | Native OCO-group is used when the broker’s plug-in supports OCO-groups. In this case all OCO orders are sent to the broker directly and unfilled OCO orders will be cancelled by the broker. | ||
Simulated OCO-group means that all OCO orders are sent to the broker, price is monitored by MultiCharts and once one of the orders is filled, other orders from this OCO group are cancelled by MultiCharts. When one of the OCO orders is filled, MultiCharts sends a command to cancel the second OCO order to broker. Note that the second order may also be filled if price reaches its level before the cancellation is processed by the broker (see OCO | Simulated OCO-group means that all OCO orders are sent to the broker, price is monitored by MultiCharts and once one of the orders is filled, other orders from this OCO group are cancelled by MultiCharts. When one of the OCO orders is filled, MultiCharts sends a command to cancel the second OCO order to broker. Note that the second order may also be filled if price reaches its level before the cancellation is processed by the broker (see [[Trading Risks# OCO-Orders Risk|OCO-Orders Risk]]).</div> | ||
Interactive Brokers Profile is already created when MultiCharts is installed. It is not necessary to reconfigure its settings if only one IB account is going to be used with no subaccounts, but it is Important to set up connection parameters in IB TWS. | Interactive Brokers Profile is already created when MultiCharts is installed. It is not necessary to reconfigure its settings if only one IB account is going to be used with no subaccounts, but it is Important to set up connection parameters in IB TWS. |