Bid/Ask Alerts

[Rod]

Does anyone know if there is a way to get alerts by text/email when a particular stock on the Toronto Stock Exchange has it's bid or ask cross a particular level? I know you can get alerts related to price changes, but I am trying to buy a very illiquid stock with a wide bid/ask spread and it would be helpful to know when someone is offering to sell near my price. For example the bid/ask could be $12.00/$14.00 and someone could place a sell order at $12.50 to change the bid/ask to $12.00/$12.50. If I was to get the alert I could log in and grab the shares at $12.50.

[writser]

Interactive Brokers offers that functionality: https://www.interactivebrokers.com/en/software/tws/usersguidebook/realtimeactivitymonitoring/set_price_alerts.htm#XREF_81641_Set_Price_Alerts

[Rod]

Interactive Brokers offers that functionality: https://www.interactivebrokers.com/en/software/tws/usersguidebook/realtimeactivitymonitoring/set_price_alerts.htm#XREF_81641_Set_Price_Alerts

 

Yes, thanks, I stumbled onto that myself last night. I've downloaded the trading program and am trying it out. Do you know if an alert needs to be associated with an active order? I see you can set a "trigger method" as "bid/ask", but it's functionality seems to depend on whether you have a buy or a sell order outstanding. Ideally, I wouldn't have any order outstanding, I just want an alert when the ask falls below a set level.

 

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Bid/Ask

 

For a buy (sell) order to be triggered:

 

•  A single bid (ask) price must be greater than (less than) or equal to the trigger price.

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Judging from the above description, to trigger on an ask price falling below a certain level is associated with a sell order, which is the opposite of want I would want. I want to buy when the ask falls.

 

I see you can also set "Alarms", which can be triggered off bid and ask levels independently, but I can't see a way to have an alarm send an email/text. It appears to only notify you while you are in the software. Do you know if alarms can be set to send an email/text?