I have just started trading the eminis at IB. Whenever I take a position, I immediately put a stop order to unwind it if things don't go right. My question is whether these will get filled during the night. I would assume so since its all on Globex, but want to check. Also if it is a day order, when does the day end (12 midnight EDT?).
stops will not be triggered/executed on the overnight session due to illiquidity. they are just active during the day session.
Thinking about trading the e-minis with IB too. I 've never traded futures before. I just wonder how you guys manage technology failure risk (ISP down, computer crash, broker server down, blackout etc.) when trading futures. Is it possible when you trade futures to preset a stop that will be entered automatically each time you open a position (ex: position is always closed if it moves x points against you), with IB or any other platform, kinda like your broker's automatic liquidation but with a much tighter stop? Thanks
you can always place a stop limit GTC when placing an order. As for the risk of ISP, broker, your computer crashing, etc. IB does take phone orders to close positions. In addition, it recommends that you have a backup broker in the event of a worst case scenario. With that said, reliability has been good.