How do I attach a pair trade in TWS?

Q: How do I attach a pair trade in TWS?

To attach a Pair trade in Mosaic : Create a buy or sell stock order in Order Entry panel. Left-click on Advanced, then select Hedge and Pair Trade. Enter a contract to hedge the parent contract. In the Ratio field, enter a value as a whole number or a decimal. This value is the first term in the ratio. To attach a Pair trade in Classic TWS : Create a buy or sell stock order. Right-click in the order line, and select Attach, then select Pair Trade. Click the Attributes box in the Status field to show the hedge attributes on the inline editor. Enter a contract to hedge the parent contract. In the Hedging Ratio field, enter a value as a whole number or a decimal. This value is the first term in the ratio. Hold your mouse over the Pair icon to see the calculated estimated quantity of the hedging contract based on the entered ratio. For example, if the parent order quantity is 500 and you enter a Hedge Ratio of 2, the estimated quantity of the hedge order will 1000, i.e. a 2:1 ratio. For more information see Attach a Pair Trade in the TWS Users' Guide.

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Accepted Answer

To attach a Pair trade in Mosaic:

Create a buy or sell stock order in Order Entry panel.
Left-click on Advanced, then select Hedge and Pair Trade.
Enter a contract to hedge the parent contract.
In the Ratio field, enter a value as a whole number or a decimal. This value is the first term in the ratio.

To attach a Pair trade in Classic TWS:

Create a buy or sell stock order.
Right-click in the order line, and select Attach, then select Pair Trade.
Click the Attributes box in the Status field to show the hedge attributes on the inline editor.
Enter a contract to hedge the parent contract.
In the Hedging Ratio field, enter a value as a whole number or a decimal. This value is the first term in the ratio.

Hold your mouse over the Pair icon to see the calculated estimated quantity of the hedging contract based on the entered ratio. For example, if the parent order quantity is 500 and you enter a Hedge Ratio of 2, the estimated quantity of the hedge order will 1000, i.e. a 2:1 ratio.

For more information see Attach a Pair Trade in the TWS Users' Guide.