IB has a rule where you can only have a maximum of 15 bids or offers on one stock at a time. Has anyone had this problem before? Does anyone know how to overcome this problem? I know of other places where you do not have to worry about this issue however I am hoping to stay with IB. I am doing a fair amount of volume so they are making good cash but I need to get past this rule. Thanks for any replies.
Not too familiar to IB screen, but can you submit "hold" orders? i.e. orders that are local to your machine, but held by you until you submit them into the exchange? This is assuming the 15 orders you have are standing limit orders on the exchange.
Well I am trading with an api. Not sure if this would work? I think it might. Will have to talk to my programmar. Would be much easier if they would just lift that restriction. For the amount of volume I do it is a no brainer. Also in a day I might place 400 orders and probably 300 get filled.
I dont think this would work. I dont scale in and out with even amounts of shares. Its not like if I have 10,000 shares that I sell scaled out in even 200 share lots.