IB's Buy Stops Don't Work on NYSE Stocks?

Discussion in 'Order Execution' started by version77, Nov 7, 2003.

  1. No I was not watching POT at the time. I am usually watching
    100% of the time when I am using buy/sell stops. Just this once
    I had something to do where I could not watch it. I started up
    TWS, the stop was just sitting there unfilled. I watched for about
    5 minutes wondering why it hadn't triggered since the price had
    been hit an hour before. Then it triggered about 5 cents higher
    than what it was when I started up TWS.

    Lesson learned: Don't use buy/sell stops when you are not at
    the computer...or anytime for that matter. I will stick to limit orders...

    That way the specialist can pick me off along with the others... :D
     
    #31     Nov 20, 2003
  2. zdreg

    zdreg

    clever solution but too much for some prima donnas of this board who worry specialist will set off their piddling orders. just sen direct to nyse instead of smart routing. problem seems to be more with listed than nasdaq.
     
    #32     Nov 21, 2003
  3. sprstpd

    sprstpd

    In IB's NYSE section, it claims that all stops are simulated. This implies that even if you route the stop order directly to the NYSE using the TWS, the stop would not reside at the NYSE. You could still encounter version77's stop problem if IB's NYSE market data was not working.
     
    #33     Nov 21, 2003
  4. i'mlong

    i'mlong

    are you saying its IB's fault for holding the stop order on their servers?
     
    #34     Nov 21, 2003