Discussion in 'Order Execution' started by Jerry11, May 14, 2009.
I was doing day trad TF, and saw my stop met all 3 conditions, but it was sitting there for a about 10 second before it triggered.
I did not understand why
I get the feeling some MMs cut a deal with IB
I get distinct feeling this change wasn't accidental
people don't seem to understand basics
most here don't even trade
When the LAST price touches your target but doesn't trigger (which is the case here)
if it did and you were hoping to enter, you would have gotten Better position by few points
Next time the IB LAST touches it and you get a fill, You got screwed on the slippage
WHERE AS THE FIRST TIME YOU WOULDN'T HAVE
like I said, not many real traders on this board I guess
IB should just create an option for someone who wants Last stop order with and without rules 2 and 3.
In fast markets, people will use limit orders past the bid/ask spread which a last stop order would probably trigger slower with rules 2 and 3.
Anyone who chooses not to have rules 2 and 3 will have faster fills but risk bad prints past their stop and that should be their own choice.
here is chart proof straight from my IB account
yup you are 120% right
Second that .
Maybe the filter is good for stock traders, but as a futures trader , I think without rules 2 and 3 is fine . .
IB can let traders choose, and those go with only rule 1 agree that IB shall not be responsible for the risk of bad print.
Technically I do not see much difficulty, as method with only rule 1 was the old method when I began to trade with IB, Method 1 with 2,3 is the current method. Give us options, every one will be happy, why not do it ?
Separate names with a comma.