Is IB Order Cancel really slow?

Discussion in 'Interactive Brokers' started by ajax_g, Oct 27, 2001.

  1. vikana

    vikana Moderator

    I have never had order cancels take more than a few seconds.

    One suggestion: check to see if your error log contains any error messages. It's at c:\jts\log.txt.

    One time where I felt TWS behaving incorrectly, I found exceptions in the log file. IB acknowledged and released a fix within 24 hours.

    Unfortunately TWS rewrites the log file every time it starts, so you have to look at it as you see a potential problem. There is a backup one version back at "oldlog.txt", but if you launch TWS more than twice, the error log will be deleted.
     
    #11     Oct 28, 2001
  2. Grabbit

    Grabbit

    ajax,

    Cancels work usually within 1-5 seconds. Which is still a bit longer than the amazing 0.2-0.3 secs that an order can get filled, but it's fast enough to get out safely in most cases.
    I've heard stories of extremely long periods for cancellations, but that was long ago. IB keeps improving their systems. I wouldn't bother about it.
    There has been a problem with stops not working properly at all times, but they solved that too.

    IB did have a major system failure the other day, but that happens at every broker now and then. It's just one of the risks involved in online trading.

    And don't bother too much about the "rules" here, ask whatever you want until a moderator kicks you out! :)
     
    #12     Oct 28, 2001
  3. ktm

    ktm

    I agree with these guys, my experience has been that cancels work very quickly...with the exception of some NYSE and option orders.

    In those cases, the exchanges themselves are usually the biggest holdup, especially with lightly traded issues. I would make sure she was running the latest TWS version as well.
     
    #13     Oct 29, 2001
  4. IB had a problem with ISLD today. I placed an order for a stock using BEST it would cancel after a few seconds on ARCA. Then I tried a small lot on ISLD since I could not get a fill with BEST and there seemed to be a problem. The order went live on ISLD I canceled a few minutes later just before the stock dropped a bit but this time I could not get confirmation , the order staying magenta. I contacted them, they don't know what happened to my order and won't know until tomorrow?!
     
    #14     Mar 5, 2002
  5. nitro

    nitro

    ajax,

    No question about it - on NYSE, order cancelling is slow _WHEN_THE_STOCK_IS_TRADING_NEAR_YOUR_ORDER_

    Tell your friend the following trick. Tell her to modify the order so that it is "well" away from the market, e.g., .10c. _THEN_ tell her to cancel it. She should notice a cancel "confirmation" [turns red] within two or three seconds now.

    nitro
     
    #15     Mar 5, 2002
  6. As soon as IB had that message out that they were having
    problems with Island orders I didn't trade Naz stocks at all.
    This is why I also trade a few NYSE stocks....

    Good luck with your order. I hope it wasn't a very volitile
    stock you were trading...

    I don't know why IB has so many darn problems all the time
    with ARCA, Island, ect. It seems eveyday there is a problem
    with somebody. Is it IB or what?
     
    #16     Mar 5, 2002
  7. janko

    janko

    i had the same issue today, thought that there was something wrong with my system, but orders took 2-5 seconds before going green and also cancels took 2-6 seconds today on best or best ecn, so i hope there was a quirk in the IB ssytem somewhere, i just did my first trades today, and already made a mistake, damn it, mental note=(when short its a buy stop not a sell stop!!!)
    but caught it in time. but overall love the 1 comissions on 100 lots.:D
     
    #17     Mar 5, 2002
  8. Catoosa

    Catoosa

    I did have this problem sometimes several times a week. It would take 1 to 7 days, many phone calls to IB USA, IB Hong Kong, IB Switzerland, and IB Germany to get IB to make the proper corrections in my account. The IB USA help was no help, and in many cases could not or would not make the corrections to my account, would not return phone calls, and would not do what they said they would do. I would find I was long, short, or flat stock that I was unaware of and what a nightmare. I have not had to eat an IB trade for this reason in more than a year and have not needed to call IB since I figured out how to prevent the problem:

    If on a stock I am trading, the IB quotes are not keeping up with the market or are stuck, I do not place and order on that stock and if I have an open order on the stock, I cancel it. I use RealTick 3 data and compare it to IB data when I am trading.

    IB will tell you that you can often still place orders when they are having quote problems. Well, much of the time you can but you leave yourself open to the possibility of this problem if the quote problems are affecting the stock you are trading.

    Catoosa
     
    #18     Mar 5, 2002
  9. Is your friend using a dial up modem??
    I have no problems , although today ISland was down for them .
     
    #19     Mar 5, 2002
  10. ajax_g

    ajax_g

    she has a dsl connection but the whole problem is over long time ago. Now it works fine.
     
    #20     Mar 6, 2002