To get started, obtain the IB Robot trading software and install it on your computer.
To start the robot, select it from your start menu and the following window should appear.
You'll need to login with your StockTickr username and password. Once you login successfully, the other login buttons are enabled for the Trade-Ideas login and the TWS connection.
Enter your Trade-Ideas username and password and click Login. To connect to TWS, you'll need to start TWS and enable API connections by going to the Configure menu and choosing API then All API Settings.
Check the following check box:
Once you've enabled API access, you should be able to login to TWS from the trading robot.
Once you're connected, you can click on the Automated tab to add a new trading strategy. Click on the New button to create a new automated trading strategy. The following window appears:
The Automated Trading Strategy window has several sections.
Allows you to choose whether signals should be traded long or short. Click on the Alerts button to select the Trade-Ideas strategy to trade signals from.
Always use a fixed number of shares for each trade.
Always allocate a fixed amount of capital to put towards the trade.
Size your position based on the volatility of the stock. This should be used in conjunction with the Stop Loss below.
Each signal sends a combination of orders to TWS. This section allows you to configure your entry orders and exit orders.
Limit orders are the only type of entry orders supported at this time. We will be adding market orders in the future.
Don't use a stop loss for this order.
Use a stop offset to enter a percent of the signal price to use for the stop loss value. For example, choosing this option for a signal price of $50 and a stop offset of 2 would enter a stop loss of $49.00 (for long strategies).
Use a stop offset to enter a dollar amount away from the signal price to use for the stop loss value. For example, choosing this option for a signal price of $50 and a stop offset of 1.00 would enter a stop loss of $49.00 (for long strategies).
Uses the parameters in the Position Sizing section to determine a stop loss.
A time to exit the position.
Uses a local time to get out of the position. Choose a time using the hour, minute, and seconds fields.
This would be an order that gets you out of the position after a number of seconds has elapsed since the signal was received.
You can optionally enter a trailing stop that is used with the order.
Don't enter a trailing stop order.
Use a trail offset that is a certain percentage away from the signal price.
Use a trail offset that is a certain dollar amount away from the signal price.
You can enter a trailing stop based on the volatility of the stock that the signal is for. Use the Volatility Ratio and Volatility Floor just as you would for the Position Sizing section.
Fills you get from orders from the robot are automatically entered into your StockTickr account so that you can go back and review your results and do performance analysis. You can enter a comma delimited string of tags that will be assigned to trades from this strategy. You can use the Recommended Tags to guide you.
more coming soon...