Discussion in 'Interactive Brokers' started by lojze, Jan 14, 2002.
Hitting my stop losses on IB is allways a problem. What to take care of expecially?
What are you hitting your stop losses with?
I am trading stocks like BRCD, BRCM, JNPR, ... All those long and I allways have a problem.
Any idea what am I doing wrong?
I believe the fixed the stop-loss orders already.
You just need to understand how they work.
You short 1000 shares at 40.
You put a stop-loss at 40 1/2.
Your stop-loss will NOT Execute until the BID
for the stock moves up to 40 1/2.
It doesn't matter if it trades above that or the
ask is above that as long as the bid is still below
40 1/2, your order will not be triggered.
If you want the stop-loss to triggered when it trades at or
ask goes up to 40 1/2. Then I would put the stop
at 40.40 considering if there is usually a 10 cent spread.
The reason they do this is to counter a bad trade which
sometimes can occur out of the bid-ask range.
None of my NYSE stops have executed over the last two days. The NYSE price quote trades right though my stop and typically after 2 minutes I'll cancel and just do a market order.
The market orders typically fills in seconds, and with stops having precedence over market orders at the NYSE this does not make sense.
Tech support doesn't seem to believe that there is a problem.
Am I the only one with this problem ?
I experience the same problem, however not just with NYSE stocks but also with NASDAQ one's.
Am I too a problem?
Are you guys using a stop, or a stop limit?
I trade the SPY and my stop did not get hit on a trade I did a couple of days ago, so I had to cancel the the stop and exit with a market order. I just use stops not a stop-limit order. I called IB about this particular trade and their customer support person pulled up the trade on his screen and saw the stop I had elected and that the trade was not triggered. He said he would report this to their tech dept. It is best to turn in all these stop problems to IB, so that hopefully they fix the problem. If it happens to you make sure you report the problem. The more complaints and the more real trade examples they are given the better.
I have been using both Stop and Stop Limit orders numerous times each day during the course of this discussion and have had no problems. Can't comment on futures etc.
I am a newbie and use IB. They do not seem to handle stops correctly. I agree on having problems with executions. That is getting them done correctly. I have called them on that and got a run around. Including a debate over the Stop rule. Which they had incorrect.
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