Interactive Brokers: Mastering Trading Presets for Faster, More Efficient Orders

Learn how to use trading presets in IBKR to save time and streamline your trading. This guide will help you set up presets for stock orders and more!

Introduction: Speeding Up Your Trades with Presets

When I first started trading with Interactive Brokers (IBKR), I found that the process of creating orders could get repetitive. Setting the same parameters over and over—like the order type, quantity, and price—felt like wasted time. Then, I discovered trading presets, which completely changed the game for me. With presets, you can save commonly used order parameters ahead of time and apply them to new trades with just a few clicks. If you’re looking to speed up your trading workflow, this post will show you how to set up and use presets effectively.

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Key Takeaways

• Trading presets allow you to save commonly used order parameters for faster order entry.
• You can customize presets to match your trading style, like defaulting to a certain quantity or order type.
• Presets are shared across platforms, so your settings apply whether you’re using IBKR Desktop or TWS.
• You can reset to system defaults at any time if you need to start fresh.

What Are Trading Presets and How Do They Work?

Presets are pre-configured order settings that allow you to streamline the process of placing trades. Instead of manually entering parameters like the order type, quantity, and price each time you place a trade, you can set up a preset that automatically fills in these details for you.

For example: When I place a stock buy order, IBKR will by default populate the order panel with 100 shares, a limit order type, and the limit price at the ask. But I wanted to adjust this to fit my trading style, so I customized it to default to 300 shares and use a market order. Now, when I create a new order, these values are automatically applied, saving me time.

How to Set Up and Customize Your Trading Presets

Setting up presets in IBKR is simple, and once you do it, you’ll wonder how you ever traded without them! Here’s how you can customize your settings:

1. Access the Settings Page: To get started, go to the Settings page in IBKR. This can be found by clicking on the gear icon. From there, you’ll have access to all your trading preferences.
2. Select the Asset Type: Presets can be made for various asset types, like stocks, options, or futures. For this example, let’s focus on stocks.
3. Customize Order Parameters: In the preset settings for stocks, you can specify:
   • Quantity: I changed mine from the default of 100 shares to 300 shares.
   • Order Type: I prefer market orders, so I set that as my default.
   • Dollar Amounts: You can even set up presets to use dollar amounts instead of shares.
4. Save Your Preset: Once you’ve customized the order to your liking, simply exit the Settings window, and your new preset will be saved.

Pro Tip: You can adjust the quantity or order type when creating a new order if necessary, so if you need 500 shares instead of 300, you can easily change it on the fly.

How Presets Apply Across Platforms

One of the things I love about IBKR’s preset system is that it’s shared across platforms. Whether you’re using IBKR Desktop or TWS, your preset settings will carry over. So, if I log into TWS after setting up a preset in IBKR Desktop, my stock orders will still default to 300 shares and market orders—no need to set them up again.

This seamless integration makes it easier to switch between platforms without losing your preferred settings.

Resetting to Default Presets

Let’s say you want to return to the original preset settings. It’s easy to reset to the default settings at any time. Simply click the Revert to Defaults button in the upper right corner of the Trading Presets window. This will restore the system’s default parameters, and you can start fresh if needed.

Personal Experience: I’ve used this feature a couple of times when I wanted to test different preset configurations. It’s great to have the flexibility to quickly revert to the default settings and experiment without worrying about messing up my custom configurations.

Using Presets in Action

Once you’ve set up your presets, it’s time to use them in actual trades. When you go to place a new order, the order panel will automatically populate with the parameters you’ve set in your preset. For example, if you set the preset to 300 shares and market orders, when you go to buy a stock, those values will already be filled in, and you can just hit Submit.

I’ve found that this significantly speeds up my order entry process, especially when I’m placing multiple trades in a day.

Quick Tip: Even though your preset will populate the order with your saved settings, you can still modify the order before submitting it. So, if you need to adjust the quantity or change the order type, you have the flexibility to do so.

Our Take: Streamlining Your Trading with Presets

Using trading presets is one of those small changes that can make a big difference in your trading efficiency. By customizing your order parameters ahead of time, you save time and reduce the risk of making mistakes under pressure. Plus, the fact that your presets are shared across platforms means that no matter where you trade, your settings stay consistent.

So, take a few minutes to set up your presets in IBKR. Whether you’re a day trader placing frequent orders or someone who trades occasionally, presets can help make your trading more streamlined and efficient.

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

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