IB conditional orders

Discussion in 'Retail Brokers' started by TraDaToR, Mar 22, 2010.

  1. TraDaToR

    TraDaToR

    Hello,

    What is you experience with them? I made an order test with a canceling condition based on a "midpoint" trigger but it seemed the order was cancelled a bit too late... Example : the order was supposed to be cancelled when midpoint of bid/ask was <= 1.32 but it was cancelled when midpoint < 1.32...

    Is it reliable?

    Another stupid question: Your TWS and market datas must be open for the conditions to trigger? conditional orders are not held on IB network to get filled according to market activity? Just to be sure...

    Thanks a lot.
     
  2. Catoosa

    Catoosa

    You did not show all the details of your order; Therefore, my comment may not be applicable: It seems to me the cancel worked as it should have: Cancel order at less than 1.32 or equal to 1.32.
     
  3. TraDaToR

    TraDaToR

    It was cancelled at 1.31 instead of 1.32 in this case. I am not 100% sure.

    I just wnat to know if it's generally reliable.
     
  4. Catoosa

    Catoosa

    A cancel at 1.31 or1.32 would both meet the criteria of the condition. I have found the conditional orders to work well for me. But, there are so many ways to setup a conditional order that it may not work as planed in some cases.