New to IB and Need Help With Order Placement

Discussion in 'Order Execution' started by jpatet, Oct 10, 2005.

  1. jpatet


    I’ve been trading a long time but I’m new to Interactive Brokers and I’m disappointed in the technical support. Over the last two weeks I sent an e-mail and also asked the same question of three representatives by phone on different days at different times and got four different answers. The e-mail gave an incomplete answer that was of no help and the last phone support guy was dangerously incorrect. I still am not sure how this trading platform works and it’s a shame that I can’t get a straight answer. Here’s the issue:

    I trade the ES and this is pertains to Stop orders. Apparently this order can be entered on TWS as triggering either RTH Only or both RTH and Outside RTH. And there are various places this can be designated. The four that I’ve found so far:

    1. Configure/Order/Order Defaults/Futures/RTH Only check box
    2. Configure/Order/Stop Trigger Method/Allow Triggering Outside RTH check box
    3. The Trading Screen’s RTH Only column which includes a check box
    4. The Order Ticket’s Time In Force/Regular Trading Hours Only check box

    First of all, they all should be consistent, either checked for RTH Only or unchecked. Regardless, all one would need is a default (#1) and a way to alter it, if needed, where you are placing your order. And a way to see (confirm) that it’s been entered the way you intended when viewing your active orders. It’s as simple as that. What’s the point of #2 above? But that’s a side issue.

    There should be an explanation in the Users’ Guide for the RTH Only column on the trading screen. I clicked on the Index’s Columns entry and found a list with Descriptions of the Column Names. It had them all but that one. I then decided to try trial and error. I entered an order and saw the blank box under the RTH Only column. Then I changed the Configuration for #2 above, placed the same order, and got the identical result in the RTH Only column.

    I won’t go on with everything else I did to try to sort this out. Although I would like an explanation for all of this, the main question I have is this:

    How can I DEFINITIVELY tell if an ACTIVE ES Stop order that I’m looking at on my trading screen has been entered as RTH Only or not, and how can I distinguish between the active but unfilled Stop orders on my trading screen that are entered as RTH Only and those that are both RTH and Outside RTH?

    Any help here is appreciated.
    Thank you,
  2. alanm


    I'm puzzled too. With 851.9, at least with the demo account, the "RTH only" box is always grayed out for futures and stock orders, no matter the setting of the configuration items, order type, TIF, etc.
  3. Release Notes for Build 853


    TWS Global Configuration
    The Configure menu now includes a new menu command called Global Configuration. The Global Configuration box includes selections and settings for all TWS features that can be configured. This layout makes it easy for you to make changes to any configurations settings without trying to remember where a particular feature is located.

    Please note that with the next release, the Global Configuration tree will be replacing all current TWS configuration options.
  4. jpatet


    Thanks Cdntrader. But I still don't know how I can tell now if my active ES Stop order is RTH Only or not.
  5. Steve_IB

    Steve_IB Interactive Brokers

    This is the easiest way... version TWS 853+

    New Status Trigger Clock Icon for Trigger Method
    For all situations that use triggers, including stop orders, conditional orders and alerts, TWS has implemented a Status Trigger Clock icon. When visible in the status line, the icon indicates that an order will not trigger outside regular trading hours. If triggering for a specific order is available outside regular trading hours, double-clicking the trigger clock will open the Trigger Method dialog box. You can then check the Time Restriction box to allow triggering outside RTH.

    To set the default Time Restriction, on the Configure menu select Global Configuration. In the left pane select Order, then select Stop Trigger Method. The Time Restriction checkbox is at the bottom of the page in the right pane.

    For Alerts, use the Allow condition to be satisfied outside of regular trading hours checkbox in the Duration area of the Alerts box.
  6. ck9


    since i upgraded to the latest ib tws i cannot check the "hidden" box.(hidden island order)

    any ideas?

  7. jpatet


    Thanks Steve, for the straightforward answer, but I’m a little afraid to use a beta version; I’ll wait until it’s final. The fact that this problem exists is almost as hard to understand as the fact that y’all don’t carry the Opening prices. Well it’s good that this is in the process of being corrected and it’s good that IB has so many other excellent qualities.

    Thanks again for your reply.
  8. Steve_IB

    Steve_IB Interactive Brokers

    It will only be a week or so before its available on the production model. In the meantime, you should also be able to check by looking at the order ticket of the order you have placed.... but I suggested the clock, because it's a simple fix to take away all the confusion.

    I'm not too sure if there's a technical reason for not having open prices, but I must say that demand for this has been almost non-existent (now watch the stampede of posts!)
  9. jpatet


    I think the Order Ticket is used when you are placing the order. I’m talking about checking (confirming) the Stop Trigger Method that’s already been set for Stop orders that have been in and working for a while. But I can wait a week for release 853.

    Thanks again and best regards.