I'm a swing trader who can't watch the market all day. I had stop orders in on two different NYSE stocks this afternoon that should have hit. They're 'dark blue' status and using the SMART routing. I've sent IB an e-mail, following an unproductive phone call. Stocks went above my buy stop (was short) early in the afternoon and should have had a couple of hours to fill. My TWS was not up, but I had a stop limit fire off this morning (short, of course). Did anyone else have problems today? These two stop orders happened to be part of bracket orders. I'm wondering if there is a glitch in their system?
Anyone have a stop problem with IB on Friday? I'm not trying to bash IB: I've got no complaints with them so far. I was just looking to see if mine was an isolated incident. Having two stop orders not fill on the same day (especially bracket order stops) is what really concerned me. I have similar orders in on other positions. I'm thinking tomorrow I cancel them and enter new OCA orders.
thanks for the feedback, cheeks. I'm a little suspect of IB's bracket orders, having just started using them. Still, there could be a dozen explanations for a stop being missed (but two of them on the same day?) I'll try to post the resolution if one is forthcoming. thanks.
I did say I'd post the resolution. Here it is via e-mail from IB. ----------------------------------------------------------- Dear Trader, Your stop order to pay 37.07 on a stop was not elected due to a technical issue. We would like to remind you that as stated in the customer agreement, the system is not warranted against technical issues. Steps are being taken to remedy the system. If you have any further questions, please feel free to contact us. ------------------------------------------------------------
I'm a swing trader too. Does not look like I will be using bracket orders any time soon. Thanks for posting the "resolution"
One note.. I did have a bracket work mid last week. I entered on a stop limit first thing in the morning, and then my bracket stop, which was tight, go hit later in the day. It worked fine. The ones I had problems with were orders that had filled earlier in the week where I had gone in and updated the orders, i.e., tightened the stops. I'm still using a bracket stop to protect me initially, but I went back and entered new OCA orders for my positions. One of those stops got hit today and worked fine. I'll guess I'll go back to entering OCA orders once I'm in a position till I can test the brackets a bit better.
THIS JUST FLAT OUT SUCKS!!!!!!! How rude. (yes, I have read the agreements and know that this is sometimes just part of trading but the form letter "Dear Trader" and "tough shit" taken together is too much - the least they could do is address him/her by name and say "sorry'.)
received the following unsolicited follow-up via e-mail.. --------------------------------------------------------------------- Bill, I have confirmed that there is a problem with the bracket orders. For GTC orders, if neither of the bracket orders get filled on the same day as the main order, they are not going to get filled, so you should cancel and resubmit them the next day. This has been fixed, but it will take 2-3 days to fully roll out the new software. -Pete ----------------------------------------------------------------------- Appears there is/was an issue with GTC bracket orders and they are working to fix it. Thanks, Pete and IB. This was dated the 4th. Sorry for the delay in posting, but the message went to my "spam" account (which I don't check everyday).
slapshot, FYI, the Dear Trader is automatically inserted when a reply is entered for a mail. Yes, a CS rep can type in Mr. or Mrs. etc. However, with customers in almost every country around the world, the Dear Trader removes any guesswork when trying to determine gender or even first or last name. Finally, hundreds if not thousands of e-mails are hitting the help desk each day. Any time saved is helpful. While you might think the initial response was rude, what is more important is that the rep followed up and made sure the client knew that the issue was resolved.