Today I decided to open a long position on IBKR. I will not use my traditional score card as this is an IPO and the numbers still don’t make much sense. Here’s my trade entry card:image

Interactive Brokers Group, Inc. (IBG) is an automated global electronic market maker and broker specializing in routing orders, and executing and processing trades in securities, futures and foreign exchange instruments as a member of more than 60 electronic exchanges and trading venues around the world. The Company has two business segments, market making and electronic brokerage. As a market maker, IBG provides continuous bid and offer quotations on approximately 324,000 securities and futures products listed on electronic exchanges around the world. IBG conducts its electronic brokerage business through its Interactive Brokers (IB) subsidiaries. As an electronic broker, the Company executes, clears and settles trades globally for both institutional and individual customers. In August 2007, IBG acquired the specialist operations of Kellogg Capital Group LLC on the American Stock Exchange.

Entry
Long @ $29.51, stop loss @ $ 27.6, risk per unit $1.98 (6.8%)

Reasons for my entry

  • Stock has dipped to $22 after the IP but now has recovery and is sitting above the 50ema.
  • I have personally used this broker in the past and they are probably the best of breed in trading automation and tools. Pretty much anything can be done online. They offer Worldwide coverage on trading instruments at very reasonable rate.

daily chart
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weekly chart
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