Set Up the Interactive Brokers Python API

In Chapters 1 through 9, we learned the foundational tools and techniques of algorithmic trading. Now, we’ll put this into practice using Python with the Interactive Brokers (IB) API and Trader Workstation (TWS). TWS is an advanced trading platform that is used by a wide range of traders, both professional and retail. You may consider alternatives to IB that offer API access. Some other brokers include Alpaca, Think Or Swim, Tasty Trade, and Tradier. When opening an account, make sure to consider market access, account type, commissions, and other factors when selecting a broker. Different brokers and account types may have different costs and restrictions.

TWS is known for its suite of trading tools and features that really enhance the trading experience. TWS is equipped with robust risk management tools so traders can effectively manage and mitigate potential trading risks. IB has unparalleled global market access with the ability...