OmniVest User Forums
Questions on Using the Trade Processor
Interactive Brokers TIPS and HOWTOs
105 replies, 10202 viewings
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OmniVest User Forums
Questions on Using the Trade Processor
Interactive Brokers TIPS and HOWTOs
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Last Activity 7/17/2018 6:22 PM 105 replies, 10202 viewings |
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Wes Smith Veteran   Posts: 199 Joined: 10/11/2012 Location: Ontario,Canada  User Profile |
Barry .. can this thread be 'pinned' to the top? | ||
| Wes Smith Veteran Posts: 199 Joined: 10/11/2012 Location: Ontario,Canada User Profile |
It's only for automated systems like the Trade Processor. This has a few advantages... and a few big 'gotchas' Advantages... It's made for 7/24 automated systems 1) It does not have a daily forced reset like TWS does. It will run 24/7 if needed. 2) It uses much less memory than TWS. This can become important if you want to run on a small 'cloud' machine. Disadvantages ... You can't monitor your account while it's logged in. 1) It is for order entry only. -You cannot view trades, orders, positions. -You cannot used it to confirm trades or any TP activity. -You cannot login anyplace else with the same userid This makes using it a little scary/awkward.. As most of us would like to be able to work on our accounts while TP/IB Gateway are connected. There is a solution for this ... in the next post. [Edited by Wes Smith on 3/29/2013 8:49 AM] | ||
| Wes Smith Veteran Posts: 199 Joined: 10/11/2012 Location: Ontario,Canada User Profile |
This is a problem if you want to monitor your account from a different location and are already logged in with the Trade Processor. The solution is to create a 2nd userid via IB Account Management web application under the "Manage account"/"User Rights" menu. I'm not going to detail how to do this, as it's pretty straight fwd. In IB's view .. A user is a fully separate 3rd party from yourself. People would use this function to grant another person access to your account.. for example an advisor or spouse or 'Trade Processor'. You fill out forms online to define the user/password, determine which rights it has (for example .. Trading only without the ability to withdraw/add funds), etc. Since this 3rd party is a 'trading' user, IB will require you to complete a trading authorization form. It's pretty painless. Just fill it out, fax or scan/email it back to them. So now .. you can use your 2nd userid with IB-Gateway and TP.. and monitor your account via Web or the full TWS app. Downsides... Market Data subscriptions are per user and may have a cost depending on what you subscribe to. It's not a big deal for OV/TP users. These systems trade a lot and will easily cover the minimum commissions to qualify for the US free data bundle. | ||
| Wes Smith Veteran Posts: 199 Joined: 10/11/2012 Location: Ontario,Canada User Profile |
IB allows you to specify which Internet IP addresses are allowed access to your account. This is done in Account Management/Security/IP Restrictions. I plan to experiment with my 'cloud' instance that is running TP on Amazon EC2. I want the IB Username used with it to be restricted to that system. Note .. this function only works if your Internet IP address is 'static' and does not change. As such .. It doesn't apply to most home users as most residential IP addresses are dynamic and will periodically change. | ||
| Fred Gordon Legend Posts: 481 Joined: 10/11/2012 Location: Fayetteville, Ga User Profile |
Thanks, | ||
| Barry Cohen Icon   Posts: 1844 Joined: 10/11/2012 User Profile |
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| Wes Smith Veteran Posts: 199 Joined: 10/11/2012 Location: Ontario,Canada User Profile |
The Gateway is just a smaller TWS client that works well for automated systems. It is not force offline once a day like normal TWS is. I haven't played with iTWS much. Can you login on your ipad at the same time you're logged into TWS on your desktop? If so ..then iTWS would be a good alternative to setting up a separate userid. | ||
| David Lich Member Posts: 40 Joined: 3/20/2013 Location: Los Angeles, CA User Profile |
I am curious about your comment about duplicate market data subscriptions. I searched the IB site, and could find not guidance. Here's my question - obviously, the Trade Processor login through the Gateway does not need real time market data since it is merely the trader. So, is it possible to sign up for real-time date on only the main user (the TWS user)? Or are you suggesting the second user would automatically incur a second subscription? If it resulted in two subscriptions, then, presumably, there would be no way to meat the minimum on the main user since it does not trade. | ||
| Wes Smith Veteran Posts: 199 Joined: 10/11/2012 Location: Ontario,Canada User Profile |
They tell me the 'free' data subscription is based on $30 in commissions for the *account*... not for the userid. So in theory, you would only pay once if you didn't meet that $30 min. As for other market data subs like Canada, Europe etc.. I'm pretty sure that is by userid. Barry .. if you're reading this ... What would the effect be on the TP if the IBGW platform didn't have any market data? Probably not much ??? | ||
| Steve2 Elite Posts: 750 Joined: 10/11/2012 Location: Annapolis, MD User Profile |
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| Wes Smith Veteran Posts: 199 Joined: 10/11/2012 Location: Ontario,Canada User Profile |
I created a couple extra userids.. - one for the automated/trade processor machine using IB Gateway, one to monitor. It only has trading rights, and can only login from my trading machine IP address. - My original - which is the one I use to monitor from my desktop - one for other use, such as Mobile TWS or monitoring from another place. I don' really need it .. but it is convenient. | ||
| Wes Smith Veteran Posts: 199 Joined: 10/11/2012 Location: Ontario,Canada User Profile |
- Chart is linked to portfolio... ie the chart changes to the symbol I touch in TWS. - Orders are visible on the chart - Orders can be adjusted on the chart (Similar to OV/VT) --- For example .. it's easy to adjust stops on the chart. - Your position is shown - Your profit/lost for the position is shown - You can close the trade from the chart What I'm do now is letting the TP create a %15 stop loss when it makes a trade. I then view each trade on a chart and adjust the stop to what I feel is a good level (prior support etc)... There are Pros and cons to adjusting stops like this of course .. just using it here as an example of what can be done. [Edited by Wes Smith on 4/8/2013 1:47 PM]  Attached file : IB-Charting.png (78KB - 2773 downloads) | ||
| Fred Gordon Legend Posts: 481 Joined: 10/11/2012 Location: Fayetteville, Ga User Profile |
Hello Wes, I did not know Portfolio could be linked to chart. How is the above function enabled? At present, I must type the symbol onto the chart (build 935.3) Thanks you for the tip, [Edited by Fred Gordon on 4/8/2013 2:40 PM] | ||
| Wes Smith Veteran Posts: 199 Joined: 10/11/2012 Location: Ontario,Canada User Profile |
You can see a purple box at the top right in the chart I posted. My main TWS window is also set to the 'purple' group. The chart follows TWS because they are both in the same group. Seems to work with the other TWS windows like OptionTrader etc Wes | ||
| Paul Johansen Member Posts: 14 Joined: 10/11/2012 Location: Kamloops, BC User Profile |
How do I answer configuration question 6 in the attached notes? The configuration required is for API Settings -> "Trusted IP addresses." Thanks. Attached file : Question on How to Configure Trusted IP Addresses.pdf (174KB - 460 downloads) | ||
| Steve2 Elite Posts: 750 Joined: 10/11/2012 Location: Annapolis, MD User Profile |
Add 127.0.0.1 to Trusted IP Addresses. This will allow trusted connection requests from your local PC and eliminate the popup. Steve | ||
| Fred Gordon Legend Posts: 481 Joined: 10/11/2012 Location: Fayetteville, Ga User Profile |
As you might guess, I would also like to get the TP to reliably open TWS. Thanks, Fred | ||
| Paul Johansen Member Posts: 14 Joined: 10/11/2012 Location: Kamloops, BC User Profile |
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| Paul Johansen Member Posts: 14 Joined: 10/11/2012 Location: Kamloops, BC User Profile |
I wish to try manually running the IB Gateway program compatible with TWS 935.3 to become familiar with it. Where do I find it? I only see a gateway.ico file in the c:\jts\tws folder. Thanks. | ||
| Barry Cohen Icon Posts: 1844 Joined: 10/11/2012 User Profile |
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| Paul Johansen Member Posts: 14 Joined: 10/11/2012 Location: Kamloops, BC User Profile |
Attached file : TWS Start loads TWS automatically but not IB Gateway.pdf (1239KB - 353 downloads) | ||
| John W Elite Posts: 654 Joined: 10/11/2012 Location: Sydney, NSW, Australia User Profile |
John | ||
| Paul Johansen Member Posts: 14 Joined: 10/11/2012 Location: Kamloops, BC User Profile |
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| BrianD Legend Posts: 302 Joined: 2/23/2013 Location: Grand Rapids, MI User Profile |
If running Windows 8 (and if memory serves me correctly), find the "IB Gateway" API it in the 'Apps' section of Windows 8, under "Interactive Brokers". As John W stated, once the IB Gateway API is started, the API runs continuously (AS LONG AS you keep your server/PC running 7-24), versus TWS logging you off daily. So, you should not need TWS Start. OR, you can you can run 7/24 from a "Cloud" server you source from a hosting site like Amazon, Microsoft, etc. Then you do not need to remember to start TWS, or the IB Gateway, or hope 'TWS Start' will get everything up and running when you boot up, etc. etc, etc. I believe cloud computing is the only way to go with a product like TP - it provides lots of comfort, and some free time :-) | ||
| Paul Johansen Member Posts: 14 Joined: 10/11/2012 Location: Kamloops, BC User Profile |
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