Are IB losing the plot?

I had a fill this month that I couldn't find on the Globex time and Sales record that was 17 points slippage. I since tightened my Stop Limit orders to make absolutely sure I cannot recieve such a bad fill for an exit.

Luckilly the trade was still a good one.

I haven't complained after trying for a month to get IB to accept liability for cancelling a order and not replacing it when I sent a modified order. This happened twice in one week with TWS 815.3 and has not happened since I downgraded.

They just kept telling me that there standard terms and conditions say they have no liability for anything...

I've thought about the FSA but I have no viable alternative for the way I trade via API.

So I guess for now I have to accept them for warts and all and code my apps to avoid any shananigans.

Is it true Tradestation can only trade on the close of a bar? when I want to use stop limits?

JonnyT
 
JonnyT,

Is it true Tradestation can only trade on the close of a bar? when I want to use stop limits?
Click to expand...

Yes that is my understanding of how TS works but it may have changed since.

Also it may be worth speaking to BBB about the issue you have with IB and the orders you placed as he was discussing a similar issue which I understand was resolved (eventually).


Paul
 
What does OTC stocks stand for?????

i've changed the default now to 'LAST' & will NOT try it out on Tuesday, but if i'm unfortunate & the stop gets hit then hopefully it should trigger.

tonie
 
tonie - remember to save the settings as well. And there is also the option of having your stop working outside of regular market hours.
 
JonnyT -

Was that a spread you were trading?

To my knowledge, this is the only way a broker can legitimately fill you at a price that wasn't printed.

e.g. You are spreading A v B, and looking for a a spread of 50. The broker fills you at 120 for A leg and 70 for B. You realise B never traded at 70. Doesn't matter - as long as you have the spread of 50 their back is covered - but would you care, as your interested in the spread value, not the legs.

If it's not a spread trade then you have a ligit' issue.
 
EUR/USD, I've been robbed :cry:
I just nicked 21 points on the break down thru 1.26 when my very close stop was triggered. Nice :cool:
I tried to re-enter with a sell Stoplimit at 1.2660 when it was 1.2658/9. Market went above 1.2660 but IB didn't fill the order. Nothing happened. No error. No message. It just faded away. Nothing in Pending, Executions ....nothing.
What's all that about? :confused:
 
Was the status green on TWS? Thats means native on Globex.

If not the order was lost.

JonnyT
 
When you submit an order through TWS the status color means everything.

Green means that the order is residing native on the exchange.

As Stop Limits are native to Globex any entered stop limit order should go green.

It it doesn't go green then you don't have a valid order and need to resubmit.

JonnyT
 
Has anyone any experience of using IB's Trailing Stop orders or the OCA Group set up?
I've just stuck the demo on my other machine while I read up on these orders and some of the fills were frightening :eek: .
I'm hoping it's just the demo playing up. I'm certainly not going test it, just in case.
Any comments?
 
You would have to try it on the market you want to trade as it's entirely based on those market dynamics.

JonnyT
 
Hey Oatman,

I tried to re-enter with a sell Stoplimit at 1.2660 when it was 1.2658/9. Market went above 1.2660 but IB didn't fill the order. Nothing happened. No error. No message. It just faded away. Nothing in Pending, Executions ....nothing.
Click to expand...

I believe that's because you can't use a stop limit to sell above the market or buy below it. For this you would use a straight limit order.

http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=8472

Forgive me if I've misunderstood.
 
You're probably right. It hasn't got the brain to accept it and then enter. I would've thought it would enter a straight sell limit 60.
Never mind, it's only money :cheesy:
Have you used these Trail orders?
I put one in ftse future demo and it got filled 9 points under the market. Didn't even show on the screen. Don't know how their demo works. Bit scared to try it out with real ££££.
 
Oatman -

StopLimit orders have the LOWEST priority on the order book, so there will be no guarantees of a fill with this order. The market could have been pushed beyond your order parameters by higher priority orders.

It also depends on the matching algorithm being used at the exchange - time stamp, pro-rata, market maker, etc
 
IB are cagey about their trailing stops and even says it doesn't recommend using them. Not put off by this stark warning I tried one once and received a, shall we say, "poor" fill. I shan't be using TRAIL again.

However I use bracket orders all the time, set up on hotkeys:

First, a limit to enter the market. When the limit is filled the other two orders (usually a stop and a limit) become live. When one is filled (e.g you reach a stop loss target or a profit target) the other is cancelled. Most convenient for leaving positions open, protected at both ends. Highly recommended.
 
I just went to the tradingsimulation site and downloaded the TSimlite version. It says that you can "get free live charts to trade from right here at Trading Simulation" I clicked on the free charts link but no charts actually came up, and no other option, i.e download charts. Just info on how to change the symbols etc...
 
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