Which order type do you use in IB?

Investing / Brokers
1

I’ve never used anything other than the web version before. Yesterday I realized there is a order type called MidPrice and then I checked on TWS and there are even more order types.

Do you guys use anything other than market or limit orders?

I’m a simple one ETF (VT) portfolio type. I invest in the long term so the price difference for my monthly purchases of VT probably don’t matter all that much and I just use market or limit so far. But I’m curious if I could optimize anything by using any of the other order types.

2 Likes
2

Limit/Market is fine. Esp. for highly liquid stocks such as VT.

4

I always do MidPrice (only available for US stocks). It splits the spread in two and usually gets executed within seconds or minutes. Limit for non-US stocks.

5

mid-peice feature for stuff with a little less liquidity than VT.

VT or other as liquid etfs, just market order 30 min after open.

6

Always limit, to be honest. It can always be adapted easily but makes me keep some distance from staring at the price.

7

Sometimes I like to play around with trailing stops. Doesn’t make a big difference for a buy& hold ETF investor, but it’s fun watching if the stock goes your way for a while…