IB phantom trades and order type changes

Discussion in 'Retail Brokers' started by bestfriend, Apr 3, 2006.

  1. Has anyone experienced IB's system placing orders without the trader entering them, or changing order types . I was trying to widen the EUR bid column in TWS and an order was placed to sell 25k EUR.
    Last week I had an OPG order in on LVS and I THINK the system changed it to day at some point.

    Use of the "Audit Trail" to evaluate these problems involves a bit of circular reasoning since if the system entered or changed the order it would show up.

    Does anyone know if IB's software contains a keystroke logger?
  2. I've come to a conclusion lately regarding a similar thought process. My posts reflect this, but noone's been responding.
    My thought is that there is electronic traceing going on into traders platforms aka hacking and watchlists / hitting bid / ask buttons on the platform causing immediate mm reaction to price.
    Could be via charts, platform.....I don't use IB but glad someone else is observing similar activities.
  3. That's a pretty interesting thought, though I think a hacker who could do this would be better served using his skills elsewhere.

  4. ivob


    Last week a GTC stoploss order for a certain stock was cancelled by IB. I don't like this, what if I'm on a holiday....

    "due to a corporate action" this is how they replied.

    When I told them it would be nice to at least inform customers about these cancellations they replied:"IB would not notify you of such a cancellation as traders are responsible for knowing when there is a corporate action in an underlying security that they own thereby understanding that any GTC orders would be cancelled based upon a corporate action occurring."


    Then I re-entered the order and the next day it was cancelled again. Same thing happened three days in a row. I asked them about it and it's some bug in the software.

  6. Choad


    No problems here.

    IB TWS has worked great this year for me. Couple thousand stock and option trades.

    Keep up the good work IB! :cool:
  7. gtc orders cancelled also in futures. i don't bother asking anymore cause the usual answer i get is"mine is working". hey thats great can i use yours?.:p
    i wonder if some severs screw up and others work fine. do we get issued servers based on the customer? small retail accts are issued the apple IIc server!
  8. Steeldust,

    Unsolicited cancels on Globex contracts are the result of 'Price Banding'. Globex cancels native GTC orders a defined distance from the current market.


    bestfriend & ivob,

    Please PM specific examples.

  9. I agree with Choad.
    I've made 8,000 trades this year... zero stop orders... and smooth sailing.

    But I place very conventional orders...
    Limit orders near the market price...
    And pay attention to what is going on.

    Stop orders are not the panacea the Sell Side makes them out to be.
    A stop order way off the market is almost guarenteed to get a bad fill.
    It's ends up being a market order in a "fast market" moving against you.

    How brilliant of you to share your wealth like that with strangers.

    It's always some guy who places one stop order...
    And goes on vacation thats cryin' himself to sleep.

    And the "IB keystroke logging" conspiracy...
    In order to trade against your flow is completely insane.
    The people responsible for that were kidnapped by aliens years ago.

    I could actually see people "sniffing" your flow at a sleazy NYC Clearing Firm...
    But IB absolutely amazes me with their ethics.


    :cool: :cool: :cool:
  10. Some of these posters may actually be right.

    Thier ability to buy at the high and sell at the low with amazing consistency can only be explained by some form of haxoring.

    Clearly, the mm's know who they are, and base the markets movements on fading thier trades.

    Scuse me, I have an appointment on Pluto this evening.
    #10     Apr 3, 2006