IBKR : Using Limit Orders 4% Above The Market ?

Discussion in 'Interactive Brokers' started by Nobert, Jan 9, 2023.

  1. zdreg

    zdreg

    Winning attitude.
     
    #11     Jan 9, 2023
    Nobert likes this.
  2. Nobert

    Nobert

    Kinda, slightly hopeful, but that would be a fools hope.

    A real option is to use an extra Scandinavian bank, for long swings, but my principle of the commissions and ego is standing in the way.

    Got to rethink it through. More than half of portfolio is still in cash.

    But, the time at the moment. And have to keep a close eye on, - isn't that a, some shape of, fomo.
     
    Last edited: Jan 9, 2023
    #12     Jan 9, 2023
  3. qlai

    qlai

    #13     Jan 9, 2023
    Nobert and M.W. like this.
  4. M.W.

    M.W.

    True but it's a very slippery slope that is usually best mastered by those firms that are lubed the most if you get my drift. The rules are sometimes applied for certain players but not to users notwithstanding the circumstance (see metal trades at LME for example). Even those trades during the flashcrash were clearly not erroneous, when there are two sides that transact willfully and as intended then that is not an error. Yet, I almost lost my shirt when I bought in the rebound after the flash crash and put in a limit sell way higher and my original buy execution was cancelled. Had I not watched the trade and cancelled my exit order early (before I could get filled) I would have been filled and would have stood on a large short in the red. Only later I found out that my original long was cancelled. A 6 figure gain evaporated into thin air. This was not an erroneous trade, the counterparty who sold to me clearly knew what it was doing.

     
    #14     Jan 9, 2023