Serious IB programming glitch

Discussion in 'Retail Brokers' started by Magna, Dec 10, 2007.

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  1. Magna

    Magna Administrator

    I've been mostly a satisfied IB customer for many years, and normally don't comment on silly programming "features" that they cleverly spring on us, but I cannot let this one pass by. Just upgraded to the new TWS 879.8 over the weekend and they've incorporated a bit of complete lunacy that the user cannot disable. Regardless of whether you configured Close Position (in either BookTrader or standard TWS) to...

    <span style="background-color: #FF0000">Transmit the order instantaneously</span>

    It seems someone at IB is confused about the concept of INSTANTANEOUSLY. Because now, starting in v879.8 it no longer transmits the order instantaneously if you also have an existing open order sitting there (which most people normally do). For instance, you are in a trade and you have a target limit order sitting there, or you have a stop-loss order sitting there, or you have both, and you decide you just want out NOW. Too bad, because clicking (or hot-keying) Close Position no longer works as it always has. Instead you get a dialog box (below) requiring that you choose one of the options and click again. Bad, bad concept that I hope IB corrects quickly. :mad: :mad:

    <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1709139">
     
  2. Generally I'm trading with a stop, and I have a target that is a limit order, using Build 879.8. I'm also using ButtonTrader.

    Since I downloaded 879.8 I haven't got the pop-up. I must say though that when I download 879.8, I also downloaded a new revision of ButtonTrader as recommended by them. They test the new Builds and then make revisions as needed. I don't really know whether the pop-up was something they took care of or not. I just know I don't get it. I think I downloaded 879.8 last Wednesday night.

    By the way, I agree with you, this is a poor idea for a trading software. That needs to be changed immediately.

    OldTrader
     
  3. Magna

    Magna Administrator

    Thanks for your comments. I spoke to Customer Service, they said they had already received a number of complaints, and that there was no way for the user to disable this pop-up "feature" that DEFEATS THE CONCEPT OF INSTANTANEOUSLY. BookTrader generally suits my needs and I'd hate to have to switch to ButtonTrader just to work around this bit of programming lunacy, but maybe if enough people complain...
     
  4. rwk

    rwk

    I recommend creating a suggestion in their "Features & Suggestions" site and posting a link to it so we can vote for it.
     
  5. I think the implementation is so bad, they should just fix it without a vote. This is just another example of lack of beta testing of new features. IB just won't do it.....or their beta testers are not really doing the job.
    The fix is simple: (2 ways to handle)
    1) configuration option
    o Prompt when Closing a position that has linked open orders or
    o Always cancel all related open orders ?

    2) a check box below the first option of "cancel all open orders..." on the existing dialog box:
    o Always take this action for subsequent orders
     
  6. Magna,

    Can I suggest you PM def and Dav with this issue (point them at the thread).

    I did this a few days back regarding a problem where 879 was losing connection with the backfill server and I am assured that the programmers are working to resolve this problem while you trade :)
     
  7. Catoosa

    Catoosa

    I think the only help we get with IB problems is through IB contacts here on ET. Any other channel to IB for help or to point out a problem is hopeless and a wasted effort. IB's responses to my "trouble tickets" have shown that IB tech support did not adequately read the tickets before responding to the tickets and closing them out. Hopeless!!:(
     
  8. Magna

    Magna Administrator

    Thanks kiwi, I've sent them both a note with a link to this thread. This isn't just an annoyance but a dangerous design flaw that could be costly to a trader who expects and needs speed. If they are intent on offering this new capability they should, at the very least, allow the user to disable it so that checking the <span style="background-color: #FF0000">Transmit the order instantaneously</span> box (say, for Close Position orders, Buy MKT orders, Sell MKT orders, Reverse Position orders, etc.) really means that it gets sent instantaneously and not after the delay of another dialog box.
     
  9. Pete - IB

    Pete - IB Interactive Brokers

    Thank you all for the honest feedback, and in particular to syswizard for suggesting a solution.

    We are going to implement the second solution suggested by syswizard. There will be a "Remember my decision" checkbox added to the window.

    This fix will be posted shortly.
     
  10. The lesson here .... NEVER upgrade TWS until you are forced to, and then make sure you search on this forum before using a specific version.

    With IB there's no QA or regression testing, and their designers appear to work in a vacuum AND do not appear to have ever traded or used TWS. And I like IB.....
     
    #10     Dec 12, 2007
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