I have been executing an automated strategy via IB for about a week now. For the position entry, I use limit orders. The issue is this:
- As the entry limit order is filled, multiple pairs of profit-taking limit/stop-loss orders are placed by NT. This can lead to very small order sizes.
- Based on the IB commission scheme, this is not efficient, since the minimum commission is $1.
a) get NT to delete the old orders and place a new consolidated pair of profit-taking limit/stop-loss order, or
b) have NT not place these piece-wise order pairs at all, and place just one pair of profit-taking/stop-loss orders, once the entry order has been worked off in full?
Thanks and best regards!
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