New Trader, screwed by market order, need help

Discussion in 'Trading' started by capline, Sep 24, 2008.

  1. KS96

    KS96

    If that's indeed the case, 105.88 to 106.95 is 1.01% difference, so your fill is >0.5% away from the market. You can ask for cancellation in IDEALPRO; not sure if this also applies to IDEAL.

    Also, from what I know, if you send a market order to IDEALPRO, it will "look" for the best price and execute either in IDEALPRO or IDEAL. According to what seems to have happened to you, this does not hold for orders sent to IDEAL... maybe someone from IB can clarify this?

    I also had 2 horrible fills recently, one of which is---in my opinion---questionable: http://www.elitetrader.com/vb/showthread.php?s=&threadid=136951
    My trouble ticket is still under review after a week...
     
    #11     Sep 24, 2008
  2. KS96

    KS96

    My advice is that if you have any doubts about your fill, don't just let it go. Open a trouble ticket with all your questions, and please keep us updated. I am doing 20-30 transactions on IDEALPRO daily, so anything "funky" concerns me greatly.

    btw, I've also been using Oanda for more than a year now, and had no issues there. But I am doing far fewer trades with them...
     
    #12     Sep 24, 2008
  3. What's wrong with a limit order?
     
    #13     Sep 24, 2008
  4. cvds16

    cvds16

    you should first go to IB and later come to ET, not in reversed order !
     
    #14     Sep 24, 2008
  5. :cool:
     
    #15     Sep 24, 2008

  6. NEVER NEVER NEVER.........use a market order in FAST MARKET CONDITIONS!!!!!!!!

    fast mkt rules apply and you can get crushed on your fills. in some cases you can't/won't get filled. I was a broker for several years and Ive seen all types of fast markets and catastrophy. Yours is not even in the top ten. I'd call IB and see if they can verify with you what happened to your order. If all else fails there is always "ARBITRATION".

    Chances are you won't win because you broke a cardinal rule: "Never chase the market". you should always let the mkt come to you with stop or limit orders --- never use market orders unless it is an emergency and you need to get out of a trade ASAP!! and even then you can still use limit and stops.

    Don't panic. Never panic. always keep your cool.

    be encouraged

    :cool:
     
    #16     Sep 24, 2008