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Introduction

IB_Direct is a nifty little program which allows you to send orders to IB through the IB TWS.  Besides its simplicity, it's main advantage is that it can send simultaneous orders to 3 separate IB accounts, including FA accounts (not fully tested yet, but features are there).  This new beta version v4.002 (January 2006) is compatible with the latest IB API version 8.71 (November 2005)  Please make sure Java, the API, and the TWS have been updated to the latest versions.

IB_Direct is particularly suitable for traders who day-trade a single instrument like a CME e-mini (that is what it was designed for in the first place).  It is however possible to use multiple sessions of IB_Direct to trade more than 1 instrument. The main focus has been to simplify order entry as much as possible.  A market order only takes a mouse click, and a stop or limit order only 2 or 3.  Its screen footprint has also been significantly reduced, yet it displays all essential information a day-trader needs.  As a matter of fact, the TWS can run minimized or even better on a separate PC on your network.

Trading can be risky, particularly with futures or forex which can be fairly volatile.  It has therefore been deemed crucial to allow the trader to have his or her position automatically secured by an optional attached stop / trail order.  In addition, up to 3 limit orders can be generated at the same time (fractional exits).  Attached orders are handled in OCA groups (One Cancels All), thus bringing higher safety as this is managed by IB.  Should anything happen locally, orders are safely in place.  When the position is closed, all attached orders are also automatically cancelled.  Orders are also automatically restored if the TWS and/or IB_Direct is closed (Internet disruption, PC shutdown, etc...)

It is recommended to practice a bit using an IB paper trading account (if you are already client) or the public demo account otherwise (user: edemo, p/w: demouser), although IB has purposely constrained its demo server which therefore behaves 'funny' from time to time to say the least.

Placing an order only takes a click for a market order, and a maximum of 2 or 3 for a limit order.  This allows you to better concentrate on your charts.

API Version Info and Program Download

The IBD Beta version 4.012 (March 17th 2006) is available for download: ibd.zip (setup file ~5MB). 
This full program setup includes the latest documentation.
Please let us know of any problem you may have with downloading or installing it. 

If you just wish to update the IB_Direct executable from a previous install with the latest beta, please download this smaller zipped update (<200KB).

User Interface:

Here are 2 sample screenshots, first the main dialog (footprint has been reduced), then the Settings page:

There is no better place to start with IB_Direct than taking a look at the Quick Guide, which is an easy-reading walk-through document, explaining settings and order placement.  It should take a few minutes to get your first paper trading orders in the market.

Status as of March 2nd 2006:

On request, LIT (Limit if Touched) and MIT (Market if Touched) orders have now been implemented in this IBD beta build 4.010.  This beta version is FREE of charge.  When released commercially, a scaled down version will be offered as shareware.

This will expire : end June 2006.  It may however be extended if more testing seems needed.  There is no commercial imperative which would motivate us in releasing it too early.  In the meantime:  COMMENTS AND FEEDBACK ARE ALWAYS MOST WELCOME

Bug status: If not guaranteed bug-free yet, no major problem has been detected for quite some time.

Source Code:

Please contact us if you are interested in acquiring the source code (VC.NET), or if you have any trouble with the installation on your PC.

Copyright © 1999-2006 ForeTrade Technologies (Last modified: March 03, 2006)