IB error: Order price is outside price limits

Discussion in 'Retail Brokers' started by SideShowBob, Jul 2, 2010.

  1. Anyone else received the error "Order price is outside price limits"? I received this the other day and had my order canceled and they finally got back to me with some weird explanation about daily futures price limits which clearly didn't make sense because it traded through my stop price that day (and my order was already canceled).

    I also received this last night when they canceled (due to the end of the session) my Euro Schatz order.

    What is going on IB?
  2. Bob111


    it's one of their precautionary features i guess..suppose to save your a*s. can be changed\disabled in presets
  3. I had that happen on my buy limit orders outside of regular hours. I was short the Sept YM contract and had a buy Limit order at 800 points below my entry (in anticipation of another flash crash), and during regular hours it was fine but if I adjusted during the after hours it says outside of limits and cancelled it? It allowed me to reset the limit order to 300 points max. The next day I reset to 800 points without a problem during regular trading hours.
  4. You need to adjust your order presets.
  5. Not convinced this is an order preset. First, it took the order and then canceled it the following morning. Second, my futures preset precautionary settings are 25% and 10 contracts, neither of which was anywhere close to being hit. Total amount also not close to being hit.

    The response I got from IB makes me think it was an error on their end relating to decimal places on the contract (it was OJ on NYBOT -- yes I know there are definite liquidity issues with OJ but I missed $3000 in profits on this trade).