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Why there is no need to enter the account number and password by live trading?
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I see the document about live trading for example by IB. I see there is the 127.0.0.1 and the port number. But I think you need entering the account number and the password to connect to your account by IB, right?
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The connection is actually established to the TWS client application ( either TWS desktop or TWS gateway) running on your local machine. This TWS client application will connect to the IB Servers using your account credentials.