Interactive Brokers: How to Use the Rapid Order Entry Window for Faster Trades

Learn how to use the Rapid Order Entry window in IBKR to place quick orders with minimal effort. This guide will help you set up your trading presets and make faster trades!

Introduction: Trading Faster with the Rapid Order Entry Window

When I first started trading, I realized that speed was key—especially when the market is moving fast. IBKR’s Rapid Order Entry feature is one of the tools that really helped me improve my trading efficiency. It allows you to place orders quickly without all the hassle of filling in a lengthy order ticket.

In this post, I’m going to show you how to make the most of this feature, from setting it up to using it in your day-to-day trading.

[LEARN MORE AT INTERACTIVE BROKERS]

Key Takeaways

• Rapid Order Entry allows for quick and efficient order submissions with minimal input.
• Trading Presets save time by auto-populating your most-used order parameters.
• You can easily switch between Buy and Sell orders directly from the price panel or the market data line in your Watchlist.
• You can further customize your order window and parameters to match your trading style and preferences.

What is the Rapid Order Entry Window?

The Rapid Order Entry feature in IBKR is designed to make placing orders faster and simpler. It reduces the number of fields you need to fill out and pre-populates the ticket with settings you use most often. So, instead of entering everything manually every time, you just select your instrument and hit submit.

How It Works:

• First, you’ll need to open your Watchlist or select a stock from your portfolio or the financial instrument list. The Price Panel will display data for the selected asset, so you can see the current price and more.
• To enter an order, you can click directly on the Bid or Ask price in your Watchlist. Hovering over the Bid will highlight the “Sell” option, and hovering over the Ask will highlight “Buy.”
• Once you click, the Rapid Order Entry ticket will open with most of the fields pre-filled based on your Trading Presets.

Pro Tip: At first, I struggled to make quick trades, but once I started using Rapid Order Entry, my order execution became so much faster. All I needed to do was customize a few presets to fit my usual trades.

Setting Up Trading Presets to Save Time

The beauty of IBKR’s Rapid Order Entry is that it allows you to configure Trading Presets to save time on repetitive tasks. Presets let you set your most-used parameters (like order type, quantity, and time in force), so you don’t have to input them every time you place an order.

Here’s how you can set them up:

1. Access the Preferences Window by clicking the gear icon at the bottom left of the screen.
2. Select the Trading Section and choose the presets you’d like to save, such as stock quantity or order type.
3. Save your changes and exit the window. Your presets will now automatically populate the order ticket each time you use the Rapid Order Entry feature.

Personal Experience: Setting up these presets saved me so much time. For example, I always use limit orders with a day time-in-force, and this was automatically selected for me when I placed an order. It helped me place trades much faster without worrying about entering the same information every time.

Placing Orders Using the Rapid Order Entry Window

Placing an order using the Rapid Order Entry window is incredibly easy. Once you’ve selected your instrument and your preset values are populated, you’re ready to submit.

Here’s how I do it:

1. Select the Order Type: I can either choose Buy or Sell based on the market data.
2. Check the Order Parameters: Double-check the quantity and price. For example, when placing a limit order, the system will automatically fill in the limit price based on the bid (for sell orders) or ask (for buy orders).
3. Submit Your Order: Once everything looks good, I hit Submit Order to preview the order and confirm.

Quick Tip: When trading in fast-moving markets, I sometimes need to adjust the price before submitting the order. IBKR allows you to make quick updates in the Rapid Order Entry window, but be sure to double-check your limit price if the market is volatile!

Advanced Options: Switching to the Full Order Ticket

If you find that the Rapid Order Entry window doesn’t offer all the parameters you need, IBKR makes it easy to switch to a full order ticket. This is where you can access more advanced order types, such as algo orders or specific time-in-force options.

Just click the “Advanced” link to open the full order ticket. Here, you’ll find more choices for customizing your trade, from adjusting stop-loss orders to choosing a specific exchange.

Pro Tip: I’ve used the advanced options for trades that require more customization, like when I need to implement bracket orders or complex time-in-force settings. It’s great that IBKR allows you to easily switch between the simplified and advanced order windows.

Our Take: Speed Up Your Trading with Rapid Order Entry

The Rapid Order Entry feature in IBKR is a game-changer for anyone who needs to place orders quickly and efficiently. Whether you’re day trading or executing more complex strategies, this tool allows you to place orders in seconds. By setting up Trading Presets and utilizing the advanced order features, you can take your trading speed to the next level.

Start using Rapid Order Entry today to speed up your trading process—trust me, it’ll make your life easier!

To dive deeper into all things IBKR, click here to explore more articles!

For the latest investment promotions and bonuses, check out our comprehensive list here: Best Investing & Brokerage Bonuses .