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IB Bracker Order

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IB Bracker Order

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I'm using Tradestation and a bracket order type when I trade. Usually people use this order type by entering with a market/limit order and then preset a Limit and Stop Loss target as their bracket sub order.

In TS however, you can also set a bracket order as MinMove from the fill price if you're using a market order for entry. So say for example you're buying 1 gold futures contract. I'm entering a long market order at 2010.20 and then I put 20 ticks MinMove in either direction - which will be calculated from the fill price. Then the limit will be set at 2012.2 and SL at 2008.2. This order type is a good way for me to lock in the exact move in ticks that I want rather than dealing with potential slippage.

I'm wondering if this is possible to do from the TWS platform that IB has. Obviously they have the classical bracket order but then you specify at which particulat limit or SL target you have. But that's not what I'm looking for and I can't find any other info on their website. I did read somewhere that IB offers the greatest variety of different order types so I'm assuming they must have what I'm looking for if Tradestation has it.

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August 5, 2020

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