How to Convert Cash and Set Alerts in IBKR Mobile
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- Опубликовано: 22 июл 2024
- This video shows how to convert currency and set alerts in the Interactive Brokers mobile platform. We first went over how to convert currency in the mobile app, then in the desktop TWS program. Second we went over creating an alert for any trade that occurs in an account, and a basic price alert.
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00:00 Convert FX Method 1
01:27 Method 2: Using a limit order
04:05 How to view existing orders
04:59 Selling USD.CAD in TWS
06:05 Showing how odd lot orders are filled
07:42 Create an alert for Any Trade
09:30 How to set alert on a stock
11:00 Sell side alert example
thank you so much for your videos on IBKR...they have so few and such poor videos, yours are very much appreciated.
Right on, glad they help! ☺️
Thx for your demonstration. It's helpful.
Pleasure and glad it helps!
Do you find trading currency CAD / USD profitable when you are paying commission on every transaction? There would have to be a minimum swing of 3 or 4 cents before you would make any money.
If you go for bigger picture narrative then it makes sense. Not for scalping if you need to scratch and re enter it can add up. Good thing is if you're nimble like that you can potentially push more size which would dilute the fixed fee.
Is possible to be connected to your TWS desktop and the mobile? When I enter to the mobile, I am logged out of the TWS. Probably I am missing something.
Nope they only allow one open session per user. This is partly due to rules from Exchanges but they enforce it around the board. To have more than one session logged in at the same time I think you can pay to have a second user.
Will I save time if I buy the fiat pair instead of using IBKR currency exchange?
Or do I still have to wait for it to settle before I can use it?
I think in a both cases it still takes a day to settle. It’s typically settled at the beginning of the next day.
I’m pretty sure if you have a cash account and you perform a currency conversion, then go and buy a stock right away, you will still be fine. It’s only if you buy the stock with unsettled currency and then try to sell the stock right away. You may not be able to sell it since it was bought with currency that has not been settled yet. You may be able to sell it once, but not buy it back. It’s one or the other. If you have a margin account then you don’t have to worry about this.
Do the alerts on TWS carry over to mobile? For the alert to be repeatable, seems like there's some special requirements to activate it on TWS, how about mobile? It can't just be if SPY hit 430. Are you going to do video on how to buy US treasuries?
Your alerts are server side so it should be fine. When you place an alert in TWS you can make sure to configure it with the criteria to notify you via mobile. Regarding that last video idea no, there is already a video online about this.
At Interactive Broker, if the account is in CAD and you buy US stocks, do they charge you for conversion when you buy and another time when you sell to bring it back to CAD? Or it stays in USD? Or we need to convert to USD to be able to buy US stocks?
If you have a margin account, you don't need to convert currency to trade a stock. If you buy a USD denominated stock, and your account is funded with a different currency, it will result in a negative USD balance. You can maintain a negative balance for as long as the account has enough excess liquidity. You'll pay a small interest for every day you hold a negative cash balance, it will be subtracted from the account near the beginning of each month. View their website info for margin loans, it's around 6% per year right now. With this example there is no conversion being made therefore there are no charges for converting currency. You are not required to exchange your home currency to USD to trade US stocks, that is up to the trader to decide.
@@VerrilloTrading I will have a cash account and I don't want them to charge me conversion fees each time I buy US stocks in CAD. Should I transfert everything in US? And if so, to I have to ask them for a USD account? Or can I just send a deposit in USD?
thats very helpful but how do you cancel it?
after I've created the alert for any it disappeared in mobile but i still get alerts in my tws.
thanks in advance
Your alerts should be linked between TWS and mobile for your account because it is all server side. Just remember alerts are configured for each account. Canceling an alert should be pretty simple, try selecting it and you should get the option.
@@VerrilloTrading that’s the problem i don’t see it in the menu. i tried adding one more alert and it’s no longer there too, but i still keep getting alerts on my tws every trade.
Hi, what's the Pre Market hours for Canadian who wish to trade stock.....is it 4am to 9:30 or it's start at 7am? Thanks and keep up the great videos! ❤
I am not entirely sure of this, sorry. I normally see Canadian stocks (specifically REITS) only open at 9:30 AM Eastern, but there maybe some that have a pre market session.
Hi could you do a video on trading FX options i.e. Selling a put option on a currency pairing eg AUD/USD or CAD/USD thx
I have never done options trading on FX and I am not sure if this is even supported in some countries with IBKR. Do you trade these and is there any liquidity?
@@VerrilloTrading yes you are holding one currency and selling a put against another. I did find and option chain on USD/AUD on the IB platform but never managed to execute a trade. I normally trade this way through my private bank but I'm sure the premiums are better if you could trade through IB.
Why does IBKR mobile SUCK!
Care to explain why? I think it’s pretty good. Do you know how much work it takes to develop and maintain an app like this? Not only is it secure, solid, it offers a lot of features, and the UI is good.