Basket order for InteractiveBrokers

[NutFlush]

Hi,

is it possible or planned for future releases to make it possible to enable basket orders for IB?

The nice thing about basket orders is that I can send an entry and already attach a stop (plus a target if desired) that already sits at the broker and will be enabled as soon as the entry fills.

Right now I cannot send the stop until the entry is filled. If my PC crashes or the internet goes down after I sent the entry order I may end up with a naked position that has no stop.

Cheers,
NutFlush

[NinjaTrader_JC]

Hello NutFlush,

It would be possible to send an entry and exit orders in NinjaTrader to IB, but you would have to use the Unmanaged Approach in NinjaTrader.

Using the Unmanaged Approach you are not restricted on what orders are placed.

As for the Basket Orders being supported in NinjaTrader, I will forward your suggestion to our Development team for future consideration in NinjaTrader.

Happy to be of further assistance.

[NutFlush]

Hello NutFlush,

It would be possible to send an entry and exit orders in NinjaTrader to IB, but you would have to use the Unmanaged Approach in NinjaTrader.

Using the Unmanaged Approach you are not restricted on what orders are placed.

As for the Basket Orders being supported in NinjaTrader, I will forward your suggestion to our Development team for future consideration in NinjaTrader.

Happy to be of further assistance.

Hi JC,

thanks for forwarding my suggestion.

I am already using the unmanaged approach in my strategies. How would I send an exit with my entry as you mentioned above?

Just to be clear: the exit should only be active in the market once the entry was filled - until then it should sit on IB's server so that it wouldn't matter if my PC/internet goes down. IB's basket orders also account for partial fills so that the exit order would only trade as many shares as the entry.

Thanks for making that more clear to me!

NutFlush

[NinjaTrader_JC]

Hello NutFlush,

Unfortunately, I am not aware of any way to have an order be submitted to IB's servers and not be active until the entry order is filled.

The Unmanaged Approach would have all the orders to be submitted to IB and be active in order to protect your order in case if there was a Connection Loss, but you would not be able to control the Stop Orders to not be active.

Happy to be of further assistance.

[NutFlush]

Hello NutFlush,

Unfortunately, I am not aware of any way to have an order be submitted to IB's servers and not be active until the entry order is filled.

The Unmanaged Approach would have all the orders to be submitted to IB and be active in order to protect your order in case if there was a Connection Loss, but you would not be able to control the Stop Orders to not be active.

Happy to be of further assistance.

JC,

I was afraid you would say that...


Am I correct to assume that what you meant by this

It would be possible to send an entry and exit orders in NinjaTrader to IB, but you would have to use the Unmanaged Approach in NinjaTrader.

is: I can send an entry and an exit order at the same time and both would be active right away.

Of course then your "exit" could be filled without ever filling the "entry", right?

Anyway, will a basket order for IB by any chance be a feature of NT8? I'm just curious.

Thanks,
NutFlush

[NinjaTrader_JC]

Hello NutFlush,

Of course then your "exit" could be filled without ever filling the "entry", right?

It is possible depending on the type of orders you are submitting and how your broker is filling the order yes but mainly your stop can get hit and put you in a position that you would not expect with this in the opposite direction.

With NT8 still being in development, I would not be able to say if/when this will be a feature but I would not expect this to be changed in NT7. We would have to be wait closer until the release of NT8 before features like this could be confirmed.

[NutFlush]

With NT8 still being in development, I would not be able to say if/when this will be a feature but I would not expect this to be changed in NT7. We would have to be wait closer until the release of NT8 before features like this could be confirmed.

Thanks for your candid answer!