IB TWS YM Order Problem.

Discussion in 'Retail Brokers' started by rcj, Oct 13, 2008.

  1. rcj

    rcj

    If i try to place a Lmt short, say 400 pts above market IB rejects the short and displays msg " ..out of price limits" ....Duuhhh!!

    i have no open cars, 26.8K acct, and levg = 0.17.

    Just shouldnt matter to any IB protection scheme???

    IB reps...comment....??? Kiwi, Oldtrader....u guys have any info
    on this???

    rj
     
  2. I think what's happening is that your order is above the limit move amount for YM. I don't trade YM so I can't tell you what that is. But every one of these index contracts has a limit move amount at night. The ES for instance has a limit move of 60 handles up or down. So if you enter an order farther away than 60 point during the night session, it will be rejected because it can't possibly trade there.

    I don't trade YM. Go to the exchange and check what the nighttime limit is.

    The limit during the day by the way is completely different.

    OldTrader
     
  3. Overnight price limit of 5% for 4th quarter 2008 for YM is 550 points.

    Since the YM is already up 300 points you can only place an overnight order at a maximum 250 points above the current price.
     
  4. rcj

    rcj

    Wellll .... dammit!!!...i totally forgot night limit situation of 5%.

    Not good. im supposed to know that kind of info..:(

    OT....Jeb... much thanx for the quick help.


    rj