"Order price is outside price limits"

Discussion in 'Order Execution' started by paradox, Jan 21, 2008.

  1. paradox


    Anyone else getting the following message from IB TWS when entering limit order to buy NQ at 1720?

    "Order price is outside price limits"

    Lowest that is accepted is around 1745.
    Currently trading at 1768.

  2. Bowgett


    Yeah because nobody should be buying. All orders should be either sell or short below current level.
  3. The equity index futures have a limit of 5% up or down overnight. When the regular market opens, those limits are lifted.
  4. LlewS


    right now, 1743.75 will trigger automatic limits. globex won't allow sell orders to go thru at prices lower than that. currently NQ is hard limited at plus or minus 105 for the night market this quarter. these limits are removed when the pit opens.
  5. paradox


    So you are saying you cannot place resting buy limit orders outside the limit range?

  6. LlewS


    not sure what the rules are with regard to limit buys below the breaker. it definitely won't be executed until the pit opens though. i'm not sure if it is your broker or Globex who is rejecting your order. you could always call Globex 312-456-2391 and find out. please let me know what they say!
  7. I called GCC


    are in limit down mode.

    They are currently watching the NQ

    This is as of 2:29AM EST.
  8. abxs


    Why isn't the DOW in limit down mode? I see a difference of 650 to Friday's close. That is >5%...
  9. NQ now in Limit Down mode.