IB and stop orders Part II

Discussion in 'Retail Brokers' started by mazirus, May 8, 2001.

  1. mazirus

    mazirus

    Any update on this matter.
    I'm getting rather tired having to maintain my stops myself. It's also a lot less effective as I find myself getting out of trades too early not wanting to get caught in a fast move and not have a quick enough trigger finger.
     
  2. Def,

    A hypothetical question... I am opening an IRA. (obiously shorting not allowed) If I had some sort of technical problem, say a lost order or lost stop that 're-appeared' at the end of the day after I manually stopped myself out, is there something in the software to prevent me from 'accidentally' shorting. What would happen in this case?

    Thanks
     
  3. dozu888

    dozu888

    Has anybody experienced any Stop Order problems with TWS3 the PC version?

    I remember when IB first brought Stops back, things were working fine. So maybe TWS4 is the culprit? Just a thought... maybe I will test it out tomorrow with small shares.

    Def, please update us with anything. I am a programmer myself... this seems to be not a very complicated bug, if IB DOES pay attention to the issue.
     
  4. def

    def Interactive Brokers

    brokershopping,
    the system is supposed to prevent you from selling short when not allowed. However, if an exchange does not report a fill I'm not certain what the broker can possibly do. However, there are safeguards built in that should not allow this.

    I know the issue of stops is being discussed at senior levels. I am not in a position to report on what actions are being taken. We've got programmers who have been working on extremely complex trading systems for over 15 years. What may seem like a simple matter may not always be the case.
     
  5. no matter what the company says, i have not been able to enter a stop limit and have it executed. i have entered it properly and the market hits and penetrates my stop election price and doesn't activate my order no less execute it.

    to add to the misery, last week i places a buy on dclk at 13.15 at about 10 a.m.. it was acting weird so i tried to cancel. only got the pink (excuse me magenta) light.never the red. got in touch with on line help but they couldn't give me any, so i assumed it was canceled (ha, ha, ha). i then went and placed a new order at 12.95 and bought. 2 hours later i get a confirmation form BTRADE at 13.15 when it was trading at 12.80. after being on hold for 1/2 hour they told me there was nothing that they could do. Btrade's system was down and they couldn't confirm orders.

    i was going to add money to my account but now i feel they are really unreliable if you have a problem
     
  6. bprice

    bprice

    Ditto..
    Stops don't work..cancellations hang...hope they can get a handle on these problems soon.
    BP
     
  7. Cubo

    Cubo

    I have three new accounts with IB. A friend of mine has an account with IB also. I watched his stop in the TWS4 screen properly entered not get executed. When he then tried to enter the stop manually, he couldn't because the screen was frozen. This happened the first week of May 2001.
     
  8. Cesko

    Cesko

    After my experience and after reading IB threads, the best way is when you are short just buy back at a stop level, if you are long sell (when at a stop level).
     
  9. dozu888

    dozu888

    Stops on NYSE stuff work fine.. so these days I am not playing NAZ no more... besides, the NAZ stuff have no personality, everthing move together with the futures... you might as well just play the emini NQ.
     
  10. Cubo

    Cubo

    Cesco.
    Thanks for your reply. What do you mean by a "stop level"?
     
    #10     May 20, 2001