Stop Failure to Execute in IB

Discussion in 'Retail Brokers' started by Rahula, Jun 19, 2008.

  1. Rahula

    Rahula

    I had several sell stops in the YM right before the Leading Indicators and Philly Fed release at 10am.

    I was not long at the time - but I wanted to trade the downside momo if the numbers were bad. I was using booktrader. YM traded thru my stops without the stops executing. So I was thinking maybe I'll get a delayed execution - still nothing. So then I cancelled all orders, and the still live stop orders get canceled.

    Just to be sure I wasn't short - I logged out and then logged back in and I still didn't see any executions.

    Has anyone had this experience before? This is scary. What if I was long a ton of contracts and the market dropped 100 points?
     
  2. Did you have a stop limit order in or a stop order? Obviously the former is risky when an economic release is coming out due to volatility. I have never had a stop order not execute in this circumstance. Usually you might get some slippage but you would be out at least. Give us more details about your stop orders and that might shed some light on your problem.
     
  3. Rahula

    Rahula

    I had a stop market order and I was using booktrader so the trade gets submitted with one click.
     
  4. Dunno. I don't use Booktrader but my experience with IB's stops has been pretty reliable, even in fast markets.
     
  5. pismo10

    pismo10

    YM is not the most liquid market. The bid or ask size is often down to 1-2 contracts.
     
  6. Rahula

    Rahula


    I usually submit/cancel hundreds of orders per day and I've never had this issue either. In a very fast market I get a delayed execution.

    I can't figure out the problem by looking at the audit trail. I don't know all the technicalities of how orders get handled.

    Liquidity is not an issue - YM is very liquid and even if it wasn't I should still get an execution.
     
  7. I agree, liquidity is not the issue. If you have a stop order and the market trades through it you should get an execution at the available market price. Let IB tech support examine the audit trail. Maybe there is some bug in booktrader or TWS that could have caused it.