IB: trading outside of regular trading hours???  [SOLVED]

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fbertram
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IB: trading outside of regular trading hours???

Postby fbertram » 15 Jan 2015

Dear Multicharts fans,

I am seeing an order which was executed at IB outside of the regular trading hours - which is not what I wanted. Here is what Interactive Brokers said:

I have reviewed your order and see that it was a Stop Limit Order with a trigger price of xxx and a limit price of yyy. The trigger method for the order was LAST, and the order was enable to trade outside of regular trading hours.


I am using Portfolio Trader with daily data. The default order settings in the broker plugin are set to Time in Force = DAY. Is there any other setting that I need to set to make sure my order expires at the end of the regular trading hours? Maybe in IB Gateway?


Thank you,
best regards, Felix

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Re: IB: trading outside of regular trading hours???  [SOLVED]

Postby orion » 16 Jan 2015

fbertram wrote:I am using Portfolio Trader with daily data. The default order settings in the broker plugin are set to Time in Force = DAY. Is there any other setting that I need to set to make sure my order expires at the end of the regular trading hours? Maybe in IB Gateway?


Look in the same broker plugin dialog where you set the time in force. You have to uncheck 'Use Outside RTH tag'. It is enabled by default for IB.
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Re: IB: trading outside of regular trading hours???

Postby fbertram » 16 Jan 2015

Hi Orion,

thanks a lot for your reply, that helps!

Dear Multicharts team,
I am not sure I agree 'on' is a great default for this setting...


Cheers, Felix

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Re: IB: trading outside of regular trading hours???

Postby Andrew MultiCharts » 16 Jan 2015

fbertram wrote:Dear Multicharts team,
I am not sure I agree 'on' is a great default for this setting...

Hello fbertram,

It is "on" for every broker. In fact IB is the only broker that has a setting for this. In all other cases it works this way: you or your strategy should not place an order outside regular trading hours if you don't want that.
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Re: IB: trading outside of regular trading hours???

Postby DTorSwing » 17 Jan 2015

Andrew MultiCharts wrote:
fbertram wrote:Dear Multicharts team,
I am not sure I agree 'on' is a great default for this setting...

Hello fbertram,

It is "on" for every broker. In fact IB is the only broker that has a setting for this. In all other cases it works this way: you or your strategy should not place an order outside regular trading hours if you don't want that.


well, I am chiming in, as I have done some Outside RTH orders in TWS but is always LMT orders so is safer. I would like to try this feature, as I do outside of RTH right after some news to gain advantage during Gap up/down


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