Hello, Here is an example: Today, I was trying to short NES with the limit price of $1.25 (Submitted ~ 9:15 EST, Order type: LMT, Time in Force: OPG, Routing: SMART by default, Size: 1600). Despite the fact that the stock opened at 1.27, I did not get filled and received the following warning: At the open order could not be executed. I was wondering whether this is a limitation of the paper account or if the order parameters were not correct. Can anyone advise on the best settings to get filled on open for NYSE and NASDAQ microcaps in real trading? Wouldn’t it be better using regular limit orders with time in force = DAY submitted before the main trading session?
Paper accounts don't support auction orders since IB can't simulate how the order affects the auction.