Does anyone know how can I automate buying on IB? I’m tired of login to this thing and all this clicking. Besides I’m unreliable and I missed couple of corrections due to my procrastinatation, and if I had it automated I’d always “catch” the dips.
i had the same question – ideally i want to create a simple order every month (sparplan). i couldn’t find a way to do that
What you can do is to create limit orders at the prices that you like. It’s not really: “buy this as soon as there is money” but more like “buy as soon as it hits this price”, which would answer your concern about missing the dip.
Now if you don’t have cash on your account, that’s a bit of a problem. What I do is go on margin for a month or two. I’m always fully invested (no cash) but I have a few limit orders for the stocks that I like. So if they execute and I’m in the red, I just don’t buy anything the next month. If they don’t execute because the price never went that low, I just buy at market price when I log in.
I’ve looked at the trading API of IB and there are things you can do such as: “buy this if a, b, and c” but the risks that something goes wrong (like buy the whole peruvian stock market because they changed VOO to V00 for some reason) are just too great for me.
Well, there is something called Rebalance Portfolio tool, but I havent used it: https://www.interactivebrokers.com/en/index.php?f=20160. I know you can set up some target allocation of your portfolio and with a button all orders are transmitted to rebalance. But I dont know if this can be set up to be automatically, like when I deposited money or when market went down 5%…
Yes, you can pay me to do it. Exclusive special rate just for you.
Create orders with GTC (good till cancelled) execution option at your desired limit price. Lots of trending assets tend to reverse at trendlines, so as long as your portfolio has several positions, you will always catch some dips (or sell some peaks)…
You either don’t understand word “automate” or you’re trolling.