It has been that way as long as I have been trading. I asked a couple of brokers and they never had an answer.
Thank-you So I contacted IB and received this: " Stop-Limit Orders: Stop-Limit orders configured to *trigger outside RTH* are native to GLOBEX and can be placed at any time during regular Globex trading hours. Please note the following restrictions placed by GLOBEX: For Sell Stop-Limit Orders, the limit price must be <= stop price (aux. price) For Buy Stop-Limit Orders, the limit price must be >= stop price (aux. price)" in summary overfill protection off on your settings (presets, show all, OAC) trigger outside RTH in your setings the limit price <> to the stop price (as in IB message) order cannot be hidden
Good job aquarian. One just needs to follow the rules and it works fine.... and always, always remember BuyStops will be triggered above the current market... and SellStops will be triggered below the current market.
That being said, if you do want buy or sell "stops" below and above respectively, you can use MIT or LIT orders IB server side. It's basically a hidden/on-demand limit order in effect.
Very slick i960....only downside is that they are likely to fill with more lag than exchange-side orders.
Hello, I have read through all the posts on this thread, and I am wondering if the advice that CME does not support stop (market) orders (i.e. do not hold them on their servers), and so it is best to set up a stop limit order with a wide limit price has changed. The CME Globex website says they do support Stop & Market orders with protection, which for the ES they set @ 3pts, so is the above actually necessary? Thank you.