IB stop not activated/ARCA problem?

Discussion in 'Retail Brokers' started by futurecurrents, Nov 18, 2002.

  1. I had two orders for 300 shares each, one a buy stop limit and one a plain buy stop mkt for MRVL.Both smart routing. Multiple bids at and above the stop were showing, Q charts T&S confirms it. My orders did not even activate, no change in color and no execution for about two minutes.They showed on the pending page. I cancelled the orders. Then a bulletin shows, saying there were problems with ARCA.
    Might these orders have been sitting at ARCA and didn't execute for that reason? Would I be better off without held stops and just send an order manually at my stop?

    **************************************************
    "The early bird gets the worm, but the second mouse gets the cheese."
    - Steven Wright
     
  2. stops never sit at arca, they are at ib, call cust. rep.
     
  3. ... are you ok ?
     
  4. Gee freshtrader, I looked at all seven of your posts so far. You're a real jerk aren't you? To say you act like a five year old insults five year olds everywhere. Moderators, check out this guys posts and then please terminate his membership.
     
  5. Yes, thanx. I called customer service and John said orders are held on IB's server and the problem may have been with ARCA and that had I not cancelled the order there might be some recourse, ie. go after the exchange if I'm owed a fill. Now I already knew that, but it is very hard to watch a stock take off without you with a market or limit -way- ahead order out there.

    Anyone else use stops alot at IB ?and how dependable are they? Frankly I got away from Datek/Ameritrade because the stops were not dependable. So far I see many great things here at IB and the TWS but if stops don't trigger.......

    Or is this just the nature of the market beast, with ARCA and BRUT crapping out, MM's stepping away, market orders getting raped, bad quotes etc.. And I just trade Nasdaq, although usually fast movers.

    It gets so frustrating sometimes, ya know?

    **********************************************
    "We have normality. I repeat, we have normality.
    Anything you still can't cope with is therefore your own problem."
    - Douglas Adams, The Hitchhiker's Guide to the Galaxy
     
  6. HI,

    I use IB and Bracket Trader a bit. I've found that IB is generally very good about getting trades out at the "stop limit" price. However, I have been traded through a couple of times and been stuck for it. Trying to click over to the TWS screen and redo an exit in a fast moving market is a drag. That is what I euphamistically call slippage... :(

    But in all honesty it doesn't happen too often and I have gotten price improvements (relative to the bidxask) before as well. So, it probably evens out.


    Sam
     
  7. Maybe I'm missing something but I e-mailed IB customer support and this was their respnse

    **************************************
    Dear Trader,

    Both of these orders were resting in our server because they were not triggered.
    The AMEX is not a routing
    choice for this stock.



    Regards,
    Luke
    IB Customer Service
    ***********************************

    This was a Nasdaq stock. How can you even choose AMEX as a route? I had chosen smart routing.
     
  8. alanm

    alanm

    If the orders were dark blue, they were on IB's servers, and no market fault was involved, so you would have no recourse with anyone but IB, and you generally have no recourse there.

    The response seems to imply that the orders were AMEX and not SMART. If that was not true, and you know the orders were sent SMART, pursue it. They are supposed to have a complete trace from the time the orders were entered, and they should explain why they weren't triggered.