Advaned details on the CLOSE Position hotkey in Chart Trader

Discussion in 'Interactive Brokers' started by Bad_Badness, Sep 30, 2021.

  1. Bad_Badness

    Bad_Badness

    In TWS Chart Trader one can create a hot key that Closes a position on that chart.
    It has the following behavior.
    • Cancels all open orders
    • Closes position regardless of Size
    • Closes position regardless of Long or Short
    • To Close the position is puts in a liquid LMT order. At the Ask for Buy to Close, and at the Bid for Sell to Close.
    This is all straight forward. However there seems to be some sort of protection system running for when the LMT order does not execute immediately.

    I.e. it appears that IF the LMT is not immediately executed, it will cancel and resubmit a new order at the new Bid/Ask. Usually this is a single tick worse, which is no big deal.

    Can @bone or @def comment on this and perhaps provide a link to the details:
    What triggers a new resubmitted order: non execution, time or new active Bid-Ask? Or am I just imagining it.:wtf:

    This is indeed an infrequent situation-occurrence. But when it happens, the market will be fast and possibly disorderly. So I want to understand it well. This is in regard to ES (futures), and only the CLOSE POSITION on the chart, not Close on page, Close Partial, or Close All Positions.

    Thanks in advance.

    PS: I check the build notes from 2015-16, user guide, quote monitor Close Setting, and of course Chart trader, Chart Trader Hotkeys, General Hotkeys, Futures Presets.
     
  2. Bad_Badness

    Bad_Badness

    It was my imagination. It does NOT resubmit....:thumbsup::rolleyes::D