1. Is it possible that when I start a new rotation strategy, the margin factor is set to the default of 1.2 and I can't change it? Or are there settings for this in the Preferences section?
2. A question for users who might also be working with Interactive Brokers: What are the default settings in the Preferences/Backtest section?
What values should I, as an IB client, enter for
Commission Amount
Minimum Commission, $
Minimum Commission, %
to make the backtests realistic?
3. Question for the active traders here: How close is a Market-on-Open order at IB to what will then be seen as the opening price on the chart for that day?
Thanks!
2. A question for users who might also be working with Interactive Brokers: What are the default settings in the Preferences/Backtest section?
What values should I, as an IB client, enter for
Commission Amount
Minimum Commission, $
Minimum Commission, %
to make the backtests realistic?
3. Question for the active traders here: How close is a Market-on-Open order at IB to what will then be seen as the opening price on the chart for that day?
Thanks!
Rename
The answer to 1. is yes, that margin factor is currently non-editable. But we've had other requests to open it up so we'll consider that.
Re: Commissions
What are you trading? This makes the most difference. Before I just looked it up for you, I would have said that U.S. stocks are $0.005 per share, $1 minimum, however, it looks like fees have dropped to 0.0015 per share, $0.35 minimum: https://www.interactivebrokers.com/en/pricing/other-fees.php
What are you trading? This makes the most difference. Before I just looked it up for you, I would have said that U.S. stocks are $0.005 per share, $1 minimum, however, it looks like fees have dropped to 0.0015 per share, $0.35 minimum: https://www.interactivebrokers.com/en/pricing/other-fees.php
I just noticed IB also charges on order canceling and modification? I did not know that....
That might be true for options on some exchanges - not other instruments.
QUOTE:
That might be true for options on some exchanges - not other instruments.
I saw that from the page you linked, and there's a link with examples, the first one is stocks through API: https://www.interactivebrokers.com/en/accounts/fees/cancelModifyExamples.php
Right you are - if you direct route your orders. Don't do that.
In other words, use SMART routing. This is the default routing for contracts.
In other words, use SMART routing. This is the default routing for contracts.
I see. That's a relief for me. I have a script that submits/cancels many orders each day. I use default routing so I'm good.
@Regenfeld
Hello
I believe I gathered that you also work at IB. Could you explain how market-on-open orders are then linked to the subsequent, fixed opening price in practice?
Best regards
Hello
I believe I gathered that you also work at IB. Could you explain how market-on-open orders are then linked to the subsequent, fixed opening price in practice?
Best regards
That's not something that is controlled by WL or IB. Simply speaking, the official open price (the MOO order execution price, which is also the open price for from WD datasets) is decided by the primary listing exchange of a stock after the opening auction. It might be different than the first trade open price from an exchange or broker.
https://www.stocktitan.net/articles/opening-closing-auctions-explained
https://www.stocktitan.net/articles/opening-closing-auctions-explained
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