OpenBook and TWS

Discussion in 'Retail Brokers' started by nitro, Feb 10, 2003.

  1. nitro

    nitro

    I just had a scarry "accident."

    I went to lunch, came back, and sat down to eat my lunch. I accidentally hit the mouse. I looked around at the spoos, and I was going to make a trade. As I look up at my TWS screen, I see an entry for me to buy 17425 shares of a stock!!!!

    At first, with all the problems that TWS has been experiencing lately, I just assumed it was a bug. But then I noticed that one of the stocks that I have OpenBook for on my screen offers for 17425 shares _CUMMULATIVE_ .

    Thank God I did not have autoexecute turnen on - I would have lifted the entire book on 17425 shares .35 higher.

    WARNING, if using OpenBook, and you are even a little clumsy, thing twice about having auto-ex on on TWS

    nitro :eek: :eek: :eek: :eek: :eek:
     
  2. alanm

    alanm

    Nice feature, huh? :)
     
  3. nitro

    nitro

    Gulp.

    This "feature" is so dangerous that it should only be allowed when using a mouse and key combination. In addition, auto-ex should NEVER work on an order that originated in an OpenBook window.

    nitro :eek: :eek: :eek: :eek: :eek:
     
  4. def

    def Interactive Brokers

    That's the reason autoex wasn't originally offered in the first place. but clients demanded it....
     
  5. I went to lunch, came back, and sat down to eat my lunch. I clicked my mouse and saw there was an order to blow up China. Good thing I didn't have my autoexec on.
     
  6. tntneo

    tntneo Moderator

    autoexec is dangerous. but it is off by default.
    users should be smart enough to know how to use their software.

    however, I agree with the remark regarding open book ( or any market depth btw).
    there should be a setting to select to use cumulative or non cumulative size.

    first because it's dangerous to use cumulative size (only institutional users have a use for it.. and even though, I am not sure most want to buy 5 levels deep of futures if they click on the level...).
    second because it would be a nice feature to select price based on the level. size could (should) come from the order defaults of TWS.

    imho anyway
    tntneo
     
  7. nitro

    nitro

    I agree 100%.

    My gawd, doing this once accidentally, ON MARGIN, can wipe not only your account, but can bankrupt you.

    nitro :eek: :eek: :eek: :eek: :eek:
     
  8. where is the auto-ex feature control in TWS??

    ..just so i can satisfy my obsessive-compulsive urges to make sure it's off every day...

    thanks
     
  9. nitro

    nitro

    def,

    I strongly suggest that IB makes the customer aware of the EXTREME dangers of this situation. Probably the best way to do it is when they are signing up for OB, and then once again in an e-mail.

    Otherwise, one day someone is going to be devastated.

    nitro
     
  10. The autoEx thing is extremely dangerous.

    Have they considered putting a MAX SHARES or MAX $$$ AMOUNT filter on it, that would require a verification. I think that would be a good thing ;-).


    Also, all the book windows insert the current inside size when clicked. I don't like it as a default behaviour.
     
    #10     Feb 12, 2003