How the hell can IB skip measly 10 contracts as limit order waiting to be executed 10 cars on NQ or YM is nothing my order should not be skipped even if it were 300 cars, let alone 10 If I place a market order I can have slippage problem but I canââ¬â¢t count on limit orders obviously What the hell do I do. All input is appreciated
orders once placed at an exchange are filled by price time priority. if you think you should have rec'd a fill, send the time and details of the order to the help desk and they can track things down.
NQ & YM trades on Globex. Limit orders are native Globex orders. Therefore they sit in Globex and not on IB's systems. Globex operates on a FIFO algorithm. In the future, if you want to increase the likelihood of executing a Limit order on Globex, set your limit on the ask if buying, on the bid if selling. Or better yet, a tick outside the B/A. Not IB's or any broker's fault unless the order is native to GLOBEX. If the order is a simulated type, then yeah, most likely broker fault.
Look for the phrase "Direct Access." Invariably, all FCMs say this. It's cheaper (more effecient) for a broker to send the order through Globex's API than to build a redundant system that holds orders on their own proprietary servers for order types that Globex natively accepts. Check this link for details about Globex: http://www.cmegroup.com/globex/introduction/index.html