IB execute stop way above market price

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

  1. def

    def Sponsor

    I'm looking at T&S and something doesn't seem right about your triggers

    at 945:52 the bid/ask was 71.21 at 71.23

    at 9:47:01 the bid/ask was 71.32 at 71.33

    and at 9:51 the bid/ask was 71.41 at 71.42

    All the fills are within the NBBO at the time. I think you are thus setting up your stop orders incorrectly.
     
    #11     Mar 14, 2006
  2. zmui

    zmui


    I use prophet.net chart. The time of the fill was at 1.27Pm 3/10/06. I'm suprise so many people have problem with IB excution. I'm kind of disappointed with IB since they make no effort make adjustment for their error. :mad:
     
    #12     Mar 14, 2006
  3. johncool

    johncool

    I have emailed my trade log to def. And he has said he will take a look at it. I will let you know the what is the outcome tomorrow.
     
    #13     Mar 14, 2006
  4. I sent IB many PM's (for a liquidation problem) as per their request and haven't heard back from them in 2.5 weeks.
    I would imagine if you are wrong they will respond by tomorrow; if you are right, have a lot of patience.
     
    #14     Mar 14, 2006
  5. So goes it with the "big boys" who don't care about customers, they care about the money. Get smart, and support a smaller brokerage that is willing to work for you... not ONLY your $$$

    :)
     
    #15     Mar 14, 2006
  6. alanm

    alanm

    Quote from zmui: [presumably buy of DIA at 110.87] I use prophet.net chart. The time of the fill was at 1.27Pm 3/10/06.

    On my chart, the high of the bar starting at 2006-03-10 13:27 is, indeed, 110.87. Looking at T&S, at 13:27:34, AMEX printed 400 shares @ 110.87. At the time, INET's offer was down at 110.79, so this was probably a technical violation of the trade-through rule (by 0.05), though the order probably was triggered when the NBO ticked up to 110.81 (at INET) at 13:27:30, so it was only $0.03 above the $0.03 window. I suppose you might be due an adjustment of $0.03 from AMEX, but you may or may not get it, and, realistically, it's unlikely that anyone would be interested in pursuing it for such a small volume (400 shares max at $0.03 = $12).

    Bottom line - your stop was run by a penny and then the market reversed. Happens to us all, all the time :)

    You might think of excluding AMEX and NYSE from your SMART routing - DIA is plenty liquid on INET, and you'd have gotten filled at 110.81 or better on INET when the stop triggered.

    I got all this from IB's interactive charts, BTW :).

    BTW, I was using line charts for this and got tripped up by something I forgot about. At the same time as the 4x110.87 print on AMEX, there was a 4x110.79 print on INET (probly the spec picking up a free $0.05 :). DIA@SMART trades on a 1-minute duration line chart shows 110.83 (the average of the two trades) for that second, while a candlestick chart shows the 110.87 high. FWIW, myTrack does the same thing with line charts.
     
    #16     Mar 14, 2006
  7. Choad

    Choad

    1. Use IB charts.

    2. As def said, T&S shows it WAS NOT IB.

    3. Your charts are wrong.

    4. The execution was fine.

    5. Def and the other good folks at IB await your contrite apology. :mad:
     
    #17     Mar 14, 2006
  8. Since when does IB execute orders? Don't blame them. If the routing went to an ECN then yes on NYSE and AMEX listed stock the ECNs are often a little ways away from the main market.
     
    #18     Mar 14, 2006
  9. --------------------------------------------------------------------------------
    Quote from zmui:

    I use prophet.net chart. The time of the fill was at 1.27Pm 3/10/06. I'm suprise so many people have problem with IB excution. I'm kind of disappointed with IB since they make no effort make adjustment for their error.
    --------------------------------------------------------------------------------


    zmui,

    I apologize if I am interpreting your post incorrectly but you seem to be bleating again. I suggested you PM def with the information that you have and that he might fix it. You don't seem to have done that so reposting the complaint is a waste of everyones time - please correct me if I am wrong?

    JMowery,

    Interesting point of view. More interesting given your withdrawing your post last week when that idiot LJ was posting. Good choice. Clearly IB do care --- otherwise why would Def and others respond to posts on this board and T2W. Lets see people take advantage of that assistance rather than just create noise. You have chosen another broker. Enjoy them. Why not contribute on IB if you have something that will assist the posters?

    In my case the assistance is the suggestion that zmui contact def and get help to sort it out. Go for it zmui! We'd like to hear how you get on. :)
     
    #19     Mar 14, 2006
  10. man, usin' stps is like kamikazin'; if u stare at da screen and follow' your pos there's zero need to make use of them.
    ever seen how many spikes take place on the various products u trade/follow in just 1 session?
    have u realized how easy it is for stops to be taken out on a regular basis....save some cash mate, leave those stops for karakirians.
     
    #20     Mar 14, 2006