Manage Orders, Positions, and Portfolios with the IB API
In algorithmic trading, efficient management of orders, positions, and portfolio data is critical. Luckily for us, we can do it all using Python. Managing orders encompasses a range of activities, including executing new trades, canceling existing orders, and updating orders to adapt to changing market conditions or shifts in trading strategies. Managing positions involves monitoring and analyzing live position data to track profit and loss (PnL) in real time. This immediate insight into the performance of individual trades enables traders to make informed decisions on whether to hold, sell, or adjust positions. Further, real-time (or near real-time) portfolio data can generate real-time (or near real-time) risk statistics to improve overall risk management. Portfolio data management involves a comprehensive analysis of the portfolio to assess its performance, understand risk exposure, and make strategic adjustments for optimizing...