Anyone who tries to trade: 1. Odd-lots 2. Of an ETF 3. Using an auto-router 4. During a fast market after a major news event like FOMC will get disappointing results more often than not, no matter where you trade. I wonder how a one-lot trader in the bond pits does during a similar market. Or a floor-trader with a couple hundred for sale does at the NYSE when bad news happens in the middle of the day. I doubt either expects much better. Without regard to whose fault it is, it's simply unrealistic to expect to be able to do it. I try to spend my time finding things that _do_ work, or can reasonably be expected to be made to work.
I have no intention of changing broker. I just wish IB would make life easier not more complicated . Hopefully IB will look into the SMART algorithm and the quotes . alanm is probably right, the odd lot order must have blocked the order from being executed. That is one thing IB should examine. How come when you send an order in after hours it routes to the wrong exchange? that's another thing. Imagine losing your shirt in 5 seconds in GOOG because of an order sent to the wrong exchange. How many things do you have to keep in mind when trading with TWS ? trigger outside RTH checked ? no odd lot with SMART ECN only during annoucement bonds RTH = NYSE RTH stops will not trigger with SMART if quotes are crossed or locked IDEAL pro stops trigger differently etc etc. and at each new release any of your order settings may have been altered during the upgrade
Funny, I have a new account with IB, and started trading with it today as well. I could not be happier with the execution. Even right after the FOMC announcement. Extremely fast, and good quality fills.
"started trading with it today as well." if i understand you correctly one day's experience qualifies you to give an opinion.
I have not noticed any problem using smart, for regular or odd lots. You would have to specify exactly what etf it was and where the price you THINK you were supposed to be getting existed. Sending to the AMEX is problematic under the best of conditions. And Im sure you didnt get 40 cents slippage in SPY or any other liquid ETF
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