IB execute stop way above market price

Discussion in 'Order Execution' started by zmui, Mar 14, 2006.

  1. zmui


    Does anybody have any experience with IB, where stop price triggered and fill way above market price but the fill price does not show on the chart? I trade DIA, and set stop at 110.80 but was excuted at 110.87, at that time the market price was 110.80/110.81, but does not show on the chart. I ask IB for an explaination, and they first said my fill price was at 110.78, then i reponded saying it is impossible, then they say they overlooked, and will not make adjustment to the error. They do not admit the error, and make no effort to correct it.
    Is price sometime don't show on the chart? if it is, then is not their fault.
  2. jetbird


    I had a similar event occur 2 days ago with IB(friday). I set a stop on a chunk of SPY shares which did not trigger, when it should have... I had never seen this before from them I ended up manually executing the trade.

  3. PM Def and ask him to look at it for you ... hes very good at getting clarity.

    On the question: can prices occur that are not on my chart? The answer is yes, rarely but it does happen sometimes - ask IB to get you a time and sales for the period and you see every tick that happened.

    I have experienced a stopped out price when the T&S showed a few contracts exchanged below the lowest charted price -- kinda irritated because if I'd used a stop held locally on my machine it wouldnt have seen it and I would still have been in the trade (but on other hand I might have had worse slippage some other times).
  4. alanm


    Where are you getting your chart? Some show only the primary exchange. Some show others, but only at some times of day.

    Please give the exact date, time, size, price, and exchange that the fill occurred on.
  5. I had problems using IB's stops with futures, a couple of bad executions and a couple of non-executions (I'd come back and the ER2 was a point above my stop, had traded there, and my stop was sitting there unexecuted). So I opened an account with TS as I was already had the service, but was paying monthly. I ran them side by side with 1/2 a position in TS and 1/2 in IB. After TS did a much better job with stops (didn't miss anything, only had one instance that I questioned the fill and that was one tick in the TY) I switched to running all my systems that use stops to TS. I still have both, but don't trade with stops on IB.
  6. have u tried with stp-lmt?
    am not implyin' they work better, I don't use any kind of stps so I don't have much of a clue but u cud give it a try.
  7. johncool


    I am glad you bring it up, zmui.

    I had the same problem on friday trading iwm. When the first trade was stopped out, I thought it was a freak. Then I enter second time, stop out again. And 3rd time, stop out again. I gave up. Then saw the price just rocket up.

    I am very sure it is the IB server that cause the problem.
  8. I haven't tried a stp-lmt with IB, I can today as I'll be in front of my screen all day today.
  9. johncool


    These are my trade log obtain from audit trail for the friday's IWM trade.

    First trade (EST time)
    Enter sell stop 09:45:52 71.03
    Stop filled at 09:46:24 @ 71.21

    Second Trade
    Enter sell stop 09:49:07 71.13
    Stop filled at 09:49:21 @ 71.33

    Third Trade
    Enter sell stop 09:51:18 71.21
    Stop filled at 09:51:56 @ 71.39

    The stop were filled at 0.18, 0.20, 0.18 above the sell stop price. Something is very wrong here.
  10. johncool


    The trade size is 100, and it were all filled at ISLAND.
    #10     Mar 14, 2006