Brokers to trade IWM GDX

[mingpan.lam]

I borrow US dollars from IB to buy my stocks (this is done automatically) and keep my account in EUR.
Keep in mind tough, profits/losses get payed/subtracted in USD. You can convert those to EUR or keep a USD balance.
I always maintain a small USD balance but keep the bulk of the account in EUR.

I started a topic on this issue a while ago, to ask what is the best practice.

Thks Rembert,my account is HKD, so I am thinking if I should change it and to minimize the interest to pay.

[Rembert]

Thks Rembert,my account is HKD, so I am thinking if I should change it and to minimize the interest to pay.

Yes the same is true if your account's main currency is HKD. At the moment the interest rate for borrowing USD at IB is 1.56%
http://www.interactivebrokers.com/en/p.php?f=interest

One could argue it's best to buy USD so one doesn't have to pay this interest. But when the dollar crashes relative to HKD or EUR we will lose a lot more than 1.56%. That's why I'm keeping the account in EUR for now.

I'm no Forex trader. But if there was a reliable robot that could switch between EUR/USD I'd make use of it. Maybe there is such a robot out there, I don't know ... google shows a lot of results for forex robots, but I'm willing to bet 95% of them are scams.

[mingpan.lam]

Hi all,

I have been following GDX robots for half year and using IB MKT order to enter at open.
Most of the time, I can't get a open price. For example, yesterday, I opened a short @54.31 while the open price is 54.34. What is your experience with IB or other brokers? Are you using MKT order?

Cheers,

Ellis

[Billy]

Hi all,

I have been following GDX robots for half year and using IB MKT order to enter at open.
Most of the time, I can't get a open price. For example, yesterday, I opened a short @54.31 while the open price is 54.34. What is your experience with IB or other brokers? Are you using MKT order?

Cheers,

Ellis

Ellis,
We use the official Yahoo Finance opening price as a reference for the robot’s track record.
Orders should be entered at market. But it is true that actual execution may vary by a few cents in real life. For opening market prices, it is first come first served. The earliest you enter your market order, the more chances to have execution exactly at the official open price.
Billy

[roberto.giusto]

I opened a short @54.31 while the open price is 54.34. What is your experience with IB or other brokers? Are you using MKT order?

Ellis

Same broker, same fill!

I believe that 54.31 is not a bad fill after all.

[Adriano]

Hi all,

I have been following GDX robots for half year and using IB MKT order to enter at open.
Most of the time, I can't get a open price. For example, yesterday, I opened a short @54.31 while the open price is 54.34. What is your experience with IB or other brokers? Are you using MKT order?

Cheers,

Ellis

Ellis,

With IB, select OPG as Time in Force, you will get the Open price. http://www.interactivebrokers.com/do...rNotes2006.pdf

Adriano