Just because this has been your experience doesn't make it a reality. Regular stops work fine for many, but not all, types of trading strategies.
I disagree. I think that what he did was unfair. I didn't criticize it to get brownie points form IB. I did criticized, like many of us criticize such posts, because we think that such posts are contrary to our interests as customers of IB.
I would like to thank all who took the time to actually read & understand my question and actually write a possible solution to my problem. You guys are why forums are so great ! For the rest of you who are on IB's payroll, the only thing a can say is : Give me a break ! And also : Get a life ! I have never seen so many people kissing a companiesâ ass this much in my entire life... Very pathetic. Any company as room for improvement and if you don't like what I'm saying about IB then move on to the next post. I really don't care that you don't agree with me and that you are offended about my comments about IB. Tums really had a nice way of putting it, so I will repeat what he said : "no need to be so judgemental. You won't get brownie points from IB. His thread subject was a question. "
I don't give a fuck what IB think about me ... and my comment about you was that at least you put a question mark at the end of the heading. You could have avoided the "I get screwed" bit and kept it factual then you might not have got your arse paddled so much. Come on ... lets be real ... the reason we jump on dickheads who make extreme criticisms of IB is twofold: - One its entertainment during moments of market boredom; and - Two because we get sick of newb's raising outrageous complaint headlines about IB which are crap. The newb is either an idiot, incompetent, or didn't read the fucking manual. PS. Jim actually does it from more of a sense of right and wrong. I do it more from the "for fucks sake" perspective that causes me to jump all over dipsticks like Covel as well.
What does "work fine" mean? Sub-optimal can be "fine"... but less than optimal. By definition... In the long run... Any kind of Market Order pays 50% of bid/ask spread as a transaction cost... But actually more... Because routing algorithms will play games with your Blank Check. You MUST have the bid/ask spread working FOR you... To compete in the long run against the best traders in the world. Do you think you are competing with Grandma?
No you don't. Slippage comes with the game and can be built into your trading models. Again, just because you can't lose the spread and be profitable, doesn't mean I can't.
Yesterday right when the market started to drop I tryed to enter a sell limit order, it stayed light blue.
I have to agree somewhat. When I first started trading I was convinced IB had installed a program in my computer that let all the market makers know exactly what I was doing and what I was thinking.... sometimes BEFORE I even thought about it... In retrospect not enough good things can be said about IB's platform.
"we think that such posts are contrary to our interests as customers of IB" Where does this come from???? I've been with them for 5 years and as far as I'm concerned the more criticism they hear the better. Maybe they will put an effort into improving things, especially now that they are publicly traded. I pay them thousands of dollars in fees and expect reliable service for their fees. For instance, this week alone I had to deal with them twice because I had not been given accurate information. Money I was told would be in my settled cash account in 3 days and available for trading took 5 days because they did not tell me that the banking dept would be closed on Columbus Day and although the $ was there on Tuesday, your buying power is based on the excess liquidity at the previous day's closing. They should have told me that when I 1st asked when the $ would be available. I was also told I could trade debit spreads in an IRA account I recently set up. But after buying the long positions, I couldn't execute the shorts. It turns out I had to apply to upgrade apply for trading permission to do spreads. Not being given full information upfront cost me $$ in both instances. Now if you are holding IB stock I can understand your concern about criticism. Being just a customer, I think the more they hear the better.
I think jim just means that they need the right kind of criticism Chris. Just like we do. If you get shit day in and day out from your parent (if ur a teenager) of from ur teenager (if ur a parent) you neither hear it nor respond to it well. I've been getting IB to fix a few little things recently but it involves an adult dialogue. This is a good board to start it from if its not getting answered from elsewhere but the extreme headlines don't help. PS> I save my non-adult dialogue for twats who start anti-ib rants. More fun than fighting with the kids and leaves me feeling warm and relaxed