Opening Auction and IB

Discussion in 'Order Execution' started by calcetines2, Aug 6, 2019.

  1. Hi, this is my first post here, so apologies If I should have introduce myself first.

    Over the last months I have developed a strategy with a paper trading account with IB. I opened my account without finalizing the IB application and everything was working fine. For my strategy I need to send the orders during the night so I can enter in the auction market in the morning. The problem is that few days ago I decided to complete the IB application and since then my orders are never executed during auction, they are executed only during RHT. I’m still in demo but now with a completed account, that's the only difference. It is even the same account ID.

    I have changed the TWS presets and I have enabled the “Allow orders to be routed and executed during pre-open session” but still no success.

    I used to send my MKT orders with GTC, but now is not working anymore and I have tried with different stocks (CFDs) with no success. I have tried also with a MTL order, but still the same.

    Does anyone know the reason? This error is getting me crazy.

    Thanks in advance!
    murray t turtle likes this.
  2. Sig


    How could the paper trading account simulate an auction where your bid would influence the outcome but your bid isn't actually sent to said auction? Some things can't be simulated on a paper trading account, this is one of them.
  3. Well, I do not know how, but all my orders in the paper account before activating the account were opened at 7.30 am and most of them closed before 9.00am, I was trading stocks via CFD in the French market which is in pre-opening session from 7.15 to 9.00am.

    Now I cannot reproduce that any more with my account fully activated.
  4. %%
    the IB computer did you a favor ,not allowing you orders entered pre-marlet. IBKR is a great co; + as they say have 2 brokers.:cool::cool: ,:cool::cool::cool::cool::cool::cool:
  5. rb7


    Trading stocks via CFD!!!!

    What the hell does that mean.
    CFD is CFD, stock is stock.

    If it's really CFD, then it's a different ball game. Cause you trade CFDs with the broker, not with the open market.
  6. Metamega


    Not an IB user but I’m guessing market orders are rejected in extended hours trading. Never tried myself( always use marketable limit orders).

    Don’t think any stock exchange accepts a market order during extended hours.

    If you want to participate in the open auction, their should me a MOO ( market on open order) that will get you in on the opening auction.

    If it’s CFD’s I really don’t know.
    murray t turtle likes this.
  7. Sig


    Now I'm just completely confused. First you were talking opening auctions, now you're talking CFDs which are completely mutually exclusive to opening auctions. And French markets?
    murray t turtle likes this.
  8. Probably is my ignorance. I'm using CFDs, that's for sure.

    When I was on the Demo account I was testing my strategy against CFDs (Spain, France, Uk, Germany,and few more). I normally send my orders at night and I started to noticed that almost all my orders sent to euronext (France, Switzerland, Belgium, etc) were executed at 7.30 in the morning and closed around 9.00. The rest of the orders for different markets (UK, Spain and Germany) were open just when the market was open, so 9.00.

    So probably that's the error, I was on the assumption that the orders were executed during auction session. To me it was really strange when all my orders were executed at the same time day after day during three months.

    I'm starting to think that this is a bug with the Demo account in IB and the CFD is handle as a standard share. As I said, no way I can reproduce this behavior with the account activated.
  9. All my orders are rejected if I choose MOO with CFDs.
  10. Overnight


    Call IB and ask them?
    #10     Aug 6, 2019
    murray t turtle likes this.