Integrate ProRealTime with existing IB Account
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Hi there Matt,
Elvira is back long gone. Maybe there are other reasons that she did not respond yet.
If you create a new List and select and via the wrench you see in the top there select ProOrder AutoTrading, you will see what is available for AutoTrading through IB.
I don’t readily see it in the list, but maybe it can be used anyway (I feel this list of allowed tickers is maintained redundantly). To try it, create a small Strategy for it with a (Long) Price which is (in USD) a 100+ points Entry Price too low, and add it to ProOrder. You will readily see whether it is accepted or not. If Yes, throw it out again and do your thing.The PRT charts resemble 100% what IB/TWS shows, and you can trade in either (they will reflect each other (are bound to each other)). All (pending) orders are visible in TWS as well (and vise versa again). A small note : that (DOM) data springs from the Exchange, not the broker.
I can see the orderbook 10 levels BUT this requires a subscription which is buried somewhat in the PRT subscriptions – it is in there somewhere as a Plugin, licensed by the CME. This can not be used with AutoTrading (you’d lack the commands for it and also will lack the Bid/Ask data as explicit streams. However, would you ?bid and ask” via TWS then in PRT you would still see the pending orders. Sneaky : would you use a third party platform you would STILL see all in PRT as long as IBKR is the broker.
Besides what you see below I have done Spot Silver and Gold, Futures versions of that and EUR/USD and I think I was heading for Oil and such while it just was not possible yet. I oriented for Live Stock but need quite some preparation for that, such as a system with all running without looking because it really requires attention (I can’t use 1 million chicken over here, also not accidentally 🙂 ). Notice that the instruments not listed as possible, can be asked for; in the beginning with AutoTrading with IB (only 2,5 years back I think), this worked out. Today you could ask for Nikkei (look for Nikkei1225 first and see wheher that’s the one you want) and I’d imagine that this also works out.
I hope this answers your questions a little ? If not, shoot some more.
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Your questions are perfectly legit. Think like this :
The Exchange (say CME) is the boss. It is that over IB and also over PRT. This is for execution. So the middle-man here is the data itself, hence the data provider. Let’s say that this is – or at least could be DTN (go Google please). Hence : when looking at that, you would know reality. Mind you, for real time data, historical data is something else and in full fletched version that does not exist “globally” (but it would for one instrument for 1000+ USD per run (of say one month). But no worries, you would not be able to utilize it anyway at 60GB per that one month and one instrument).
Possibly skipping a few elements (dinner time over here) …
Technical latency would you use a Bid/Ask data stream and trade with that, is under 100 ms these days … from over here. The path would be Netherlands – Switzerland – Chicago and possibly back to Switzerland and not further (for PRT that is). Of course I’d need to enter the order which also involves Paris, but that is peanuts compared to :
beware
The response time of IBKR.
This can be so long that (for AutoTrading) Trailing of each one second would fail soon (requires more explanation, but bot now please). Manual trading and Trailing, no issues whatsoever. But, entering new orders can be a serious problem (like 10 seconds stall). This is just about the whole path from IBKR to CME and back to them (this is invisible to us), but … one learns to live with that. Example : place order – conformation by PRT stays out (no order label or grey order label) and … just wait. No re-issue because you might be sorry. IMHHHO the main culprit is IBKR itself which seems to fall asleep at quiet times (showing a grey order for tens of seconds some times).All ‘n all you might be issuing tickets to PRT daily, but best is to learn to deal with it.
No issues with trading in margin whatsoever. When too far your position is lowered intelligently (I’d even anticipate that functionality because it is decent).
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