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Interactive Brokers - experiences and opinions

  • #61
  • Mar 21, 2006 11:14am Mar 21, 2006 11:14am
Quoting Leib
To see quotes in the platform click on an empty line...
thanks this helped! now I have my favorite pairs on the screen .... and nothing more.... where are the prices? I tried to add a chart - it says NO MARKET DATA PERMISSION. Please help me once again!
time is money! Z
  • #62
  • Mar 21, 2006 11:29am Mar 21, 2006 11:29am
Quoting Zazzy
NO MARKET DATA PERMISSION. Please help me once again!
this might be a little complicated, cause it involves signing in to the web site and going to your account managment info. I just went there and don't want to take a chance on messing up my settings or having things changed and then waiting permission from IB administrators to finalize my choices, which can happen, PM and I'll give you my yahoo or IRC handle and we'll talk live
  • #63
  • Mar 21, 2006 6:40pm Mar 21, 2006 6:40pm
Like I said in the PM - it would be easier to contact me live, but you can maybe try this -

On the Account Configuration/Non-Professional Market Data Subscriptions page, choose which subscriptions you want - the "US Securities and Commodities Bundle Non-professional - Level I" (USD 10 if monthly commissions < USD 30) is only Free if you have more than USD 30.00 in commisions/month after, but not including the 1st month.

I'm not 100% sure because it has been so long since I've done any of this, but if you hit "Continue" at the bottom of the page I think it automatically sets off a process which will require some kind of approval and verification by IB. It might take another 24-48 hours before your platform wil "light up". You can check with IB by phone or with the live chat help application to confirm what I'm surmising.
Anyway, in the case of the free subscriptions, it might require you to go through the whole procedure of 1. Choosing your desired subscription, 2. verifying your choice 3. finalizing the whole procedure. Much like the procedure you go through when paying a credit card online. I believe once you've gone through the whole procedure your TWS will "light up" with your desired trading instruments.

Hope this helps, Leib
  • #64
  • Oct 30, 2006 9:52am Oct 30, 2006 9:52am
I've recently opened an account, and want to know which exchanges and contracts you're using to trade gold, oil, s&p and commodities such as agriculture, metals etc.

I've opened up the practice account and want to test my system outside forex. Next year I want to add options to the mix.

Also I notice whilst I'm in the process of funding the account I can't access any charts. I've read elsewhere the charts are poor so what good commodity charting providers are you using? I normally use this one:

http://futures.tradingcharts.com/menu.html

But I'm sure there are better ones around...
  • #65
  • Oct 30, 2006 7:29pm Oct 30, 2006 7:29pm
Hey Iso, welcome to the club...Hope that you will like Interactive Brokers...I am not sure about the charts, actually before funding the account I never tried to log in to the trading platform at all..I just used to log in to the account management section....Anyway, hope that you will like it...

The website you are using is great, but for longer term futures charts they use combined or continuous charts, which are usually not as precise as needed, but it is fine as they will appear on the larger time frames only....

Now, you need to follow gold, silver, oil, indices futures & other future stuff...On the interactive brokers webpage, you will find a page where all the futures symbols are being listed...Remember that you will have the ability to trade most futures through the electronic system...If you want to trade through the open outcry, you will have to subscribe to the open outcry data feed as far as I remember...I don't think you will need to trade on the open outcry auction anyway....

So, let's get to the point...Here are some symbols for some future contracts you might find exciting:

Futures traded on the E-CBOT:

YG: This is the mini-gold contract
ZG: This is the standard-gold contract

YI: This is the mini-silver contract
ZI: This is the standard-silver contract

ZB: This is the 30 YR-Bond future contract

ZW: Standard Chicago Wheat contract

ZO: Standard Oats contract

ZC: Standard Corn contract

ZS: Standard Soybeans contract

YM: Mini-Dow Jones Industrial Average contract


Futures traded on the Globex electronic platform (CME Products)

NQ: Nasdaq 100 index contract

ES: S&P500 index contract

All currency futures are listed on the Globex platform & are available as well...


Futures traded on the NYMEX electronic platform:

QM: This is the mini-sweet light crude oil contract


If you need anything else, just post whatever you need my dear friend, and wish you all the best...



Thanks,

Nader
  • #66
  • Nov 1, 2006 1:26am Nov 1, 2006 1:26am
thanks buddy, once the funds clear i'll check out your list. i was thinking along similar lines as well.

btw i think there is a monthly charge of 10 bucks min activity to pay but that's ok. for that i get non professional us charts that should cover the list...

anybody using the demo accounts?
  • #67
  • Nov 1, 2006 2:43am Nov 1, 2006 2:43am
I don't have 50 posts yet so I can't give an opinion yet... I will PM you
Smile... Darwin loves you.
  • #68
  • Nov 1, 2006 4:25am Nov 1, 2006 4:25am
Quoting Isotonic
anybody using the demo accounts?
Some market/stock can not be accessed by demo account. Also, you should have your own record for paper trading. As for charting, you can use datafeed from IB and using ami broker platform. It is a good one time fee software platform.
  • #69
  • Nov 1, 2006 4:26am Nov 1, 2006 4:26am
Quoting Isotonic
thanks buddy, once the funds clear i'll check out your list. i was thinking along similar lines as well.

btw i think there is a monthly charge of 10 bucks min activity to pay but that's ok. for that i get non professional us charts that should cover the list...

anybody using the demo accounts?
Hi Iso.

$10 monthly charge is for idle accounts. If you can generate commission like 20+ a month for them, then they won't charge you.

Ken
  • #70
  • Nov 1, 2006 12:46pm Nov 1, 2006 12:46pm
I don't think there is anything wrong with having an opinion below 50 posts. It's just an anti-spam measure against blatant endorsements. So chime away!

Btw thanks for the pm!

Quoting gpw797
I don't have 50 posts yet so I can't give an opinion yet... I will PM you
  • #71
  • Nov 1, 2006 12:46pm Nov 1, 2006 12:46pm
good idea. amibroker runs under linux i think.

Quoting turin0107
Some market/stock can not be accessed by demo account. Also, you should have your own record for paper trading. As for charting, you can use datafeed from IB and using ami broker platform. It is a good one time fee software platform.
  • #72
  • Nov 1, 2006 12:48pm Nov 1, 2006 12:48pm
yes the commissions are attractive compared to retail brokers. the more i see the more i like of IB. i think i will eventually swap with oanda and make it my main broker, even for forex the spreads seem to be better.

Quoting goodtiding5
Hi Iso.

$10 monthly charge is for idle accounts. If you can generate commission like 20+ a month for them, then they won't charge you.

Ken
  • #73
  • Nov 1, 2006 12:49pm Nov 1, 2006 12:49pm
the minis are probably what i'll be hunting for!

Quoting narafa
Hey Iso, welcome to the club...Hope that you will like Interactive Brokers...I am not sure about the charts, actually before funding the account I never tried to log in to the trading platform at all..I just used to log in to the account management section....Anyway, hope that you will like it...

The website you are using is great, but for longer term futures charts they use combined or continuous charts, which are usually not as precise as needed, but it is fine as they will appear on the larger time frames only....

Now, you need to follow gold, silver, oil, indices futures & other future stuff...On the interactive brokers webpage, you will find a page where all the futures symbols are being listed...Remember that you will have the ability to trade most futures through the electronic system...If you want to trade through the open outcry, you will have to subscribe to the open outcry data feed as far as I remember...I don't think you will need to trade on the open outcry auction anyway....

So, let's get to the point...Here are some symbols for some future contracts you might find exciting:

Futures traded on the E-CBOT:

YG: This is the mini-gold contract
ZG: This is the standard-gold contract

YI: This is the mini-silver contract
ZI: This is the standard-silver contract

ZB: This is the 30 YR-Bond future contract

ZW: Standard Chicago Wheat contract

ZO: Standard Oats contract

ZC: Standard Corn contract

ZS: Standard Soybeans contract

YM: Mini-Dow Jones Industrial Average contract


Futures traded on the Globex electronic platform (CME Products)

NQ: Nasdaq 100 index contract

ES: S&P500 index contract

All currency futures are listed on the Globex platform & are available as well...


Futures traded on the NYMEX electronic platform:

QM: This is the mini-sweet light crude oil contract


If you need anything else, just post whatever you need my dear friend, and wish you all the best...



Thanks,

Nader
  • #74
  • Nov 1, 2006 12:53pm Nov 1, 2006 12:53pm
Hey what brokers does anyone have when they trade the news, any good or bad comments about your own would be appreciated, i am looking for a diff broker atm?
Ghost Swoopen in for my pips while no one is lookin !!
  • #75
  • Nov 1, 2006 2:29pm Nov 1, 2006 2:29pm
I previously made a post describing my positive experiences with IB and it was deleted, I sent you a PM.
Smile... Darwin loves you.
  • #76
  • Nov 1, 2006 3:05pm Nov 1, 2006 3:05pm
I trade with IB and never had any problems with them. I love that I can get whatever stock/bond/future/option/currency I want. bring it all together in a few lines and I have a snapshot of what the markets are doing. My only problem is figuring out the charges, don't expect to get through their charge matrix over lunch time. Ive found them very competitive on fees and wouldnt' change.

Btw dont work for IB or anything, just happy that Im not restricted to trading currencies etc.
  • #77
  • Nov 3, 2006 7:46pm Nov 3, 2006 7:46pm
Quoting Ghostpipper
Hey what brokers does anyone have when they trade the news, any good or bad comments about your own would be appreciated, i am looking for a diff broker atm?
Ghostpipper, I just watch forex movement on my IB yesterday during NFP. I compare it with InterbankFX. In IB I can make 2 times short scalping trade while on InterbankFX only 1 trade. I never do the comparison until yesterday as I usually using IB for trading futures. Probably any body here do trade news on IB? hmmm, thinking of using IB for news next time
  • #78
  • Nov 5, 2006 2:15pm Nov 5, 2006 2:15pm
ok, here is my initial list - does anybody have experience of trading the following:

Light Crude Oil EmiNY (QM, NYMEX)
Gold NY Mini (YG, CBOT)
Mini Sized Dow Jones (YM, CBOT)
30 Year US Treasury Bond E-Mini (YH, CBOT)
Corn Mini (YC, CBOT)
Soybeans Mini (YK, CBOT)
Wheat Mini (YW, CBOT)

i haven't dug deep into all the costs yet. i'll play around on the demo to get a feel for them first.

btw, anybody trade them end-of-day rather than intraday? i'm worried if price gaps through my orders then they'll be filled. i'm looking to trade through prices, rather than gaps.
  • #79
  • Nov 5, 2006 6:03pm Nov 5, 2006 6:03pm
I trade all of them bar the Treasury bond which I only trade sparsely. Had no problems with any. I'm normally on the full size lots but I've traded the the mini's listed as well and they are 1 or 2 pip's more of a spread normally.

Eg. full sized WTI oil is 58.97/99 at the moment (very low volatility, usually only 1 pip spread). The mini is quoted at 58.95/99. Not sure what you mean by end of day trading, I've held positions over days and there can be significant diferences between end of day floor based trading and start of next day floor trading on the NYME. Is this what you mean?

About the question about news trading I've done a few on IB and must say IB filled the orders fast. Use limit orders though as going at market price during big volatility is only asking for trouble
  • #80
  • Nov 5, 2006 7:55pm Nov 5, 2006 7:55pm
Moneytalk, thanks, i think i better using demo during news for a few weeks, then hopefully by next month i have confidence to real trade on IB for fx.

Isotonic, i am also would like to try trading mini oil and gold. Looks like now they are the hottest commodities.
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