Interesting idea, if I understand you correctly you're suggesting that on a long you would pair a sell-stop-limit below the price to sit on the Globex server with a sell-stop above the price that would sit on IB's server. That's the only way I can see of making the target a "simulated" order (since targets are normally limit orders which sit native). Hmmm, never tried placing a sell-stop above the price, seems like it would trigger right away, maybe I'm missing something....
Ahh, you are very right: that will not work. The "target" order would trigger immediately. Have a look at conditional orders. Specifying a condition (price >= xyz.ab) for your target order could do the job. Though I do not know, where the condition is monitored: TWS or IBs server. Sorry for the confusion. Bernd Kuerbs
That might do it, and appears the only way to set up a "simulated" target order. The key question, as you mentioned, is whether they sit on the TWS workstation or on IB's servers. Years ago I used Cybertrader and their conditional orders sat on the user's computer. Unfortunately that meant when I was disco'd from Cyber I lost those orders. Now if they sat on IB's servers that would be an intiguing way around the problem -- if IB blipped or bumped me, no problem, my stop-limit would still sit on Globex and my conditional/simulated target would still sit on IB waiting to be triggered (and, if so, self-cancel the other portion of the OCA pair). If IB got disconnected from Globex at least I would still be protected by the native stop-limit order although I would lose any target order. And, of course, if Globex went down then trading would stop and depending on how long they were down either my native stop-limit would remain intact or it would be cleared out like everyone elses. So does anyone know with certainty whether the (untriggered, unfilled) IB conditional orders sit on the standalone TWS or the IB servers?
hi. how about just a backup server just for exiting orders with no quotes or anything. just a thought.
It seems obvious to me that switching back and forth between primary and backup is trouble. When the primary ISP goes down, why not just stay on the backup until market close, then revert back to primary at that time? It seems to me that an ISP experiencing intermittant problems is a lot more common than multiple ISPs experiencing simultaneous outages.
If IB expects us to be able to use their system to trade at high rates in short time frames, they will not be able to get away with several MINUTES of downtime whenever their main ISP goes down!
I was wrong about several minutes. I rec'd word that the ISP was down for 24 seconds. The practice isn't to swap from primary to backup and back to primary. But what happens if your backup goes down? The other "lockouts" people were talking about were isolated to specific users at a given time due to human error and the procedures have been corrected. I've also just heard a few minutes ago that the cause for delays during globex spikes has been found and that it should be resolved as well. As I've been overseas for so long now (8+) years, I am no longer completely familiar with the details of the US infrastructure. I am also not a techie thus I should refrain from discussing our network. Nevertheless, I believe our uptime and reliability over the past year has been outstanding. Thus I think it is safe to assume that the system guys know what they are doing.
My TWS has been disconnected for about 10 minutes now. (4:20 PM EST). Anyone else's out? They're saying on CNBC there's a major power outage in Mey York and New Jersey. Isn't IB in NJ? Is that the problem?