Stops are still lousy at IB

Discussion in 'Trading' started by Grabbit, Aug 29, 2001.

  1. vvv


    def, i've been following the issue of stops at ib on an on and off basis...

    i really think that ib has done a great job of introducing really competitive RT pricing and great service, such as the job you're doing here...

    no question about that and compliments on that issue...

    however it seems just as obvious that you have a serious problem re stops...

    and they are after all one of the most important tools for serious traders...

    and if you want to get this issue off international boards once and for all i do believe that you should engage in an all out effort to solving the problem by making it a priority objective, which really should be a feasible task.

    #31     Aug 31, 2001
  2. def

    def Sponsor

    the problem with late triggers was caught - at least we thought so - and thus if grabbit or anyone else who believes they have a stop that was not triggered properly should sent the details to the help desk so they can be tracked down.
    #32     Aug 31, 2001
  3. aldrums



    I am 38. Your post is a keen insight into human nature. This is a little off topic, but I can count on the fingers of one hand traders I respect...and even some of them have tried to sell me something. Sometimes I wonder if traders and brokers really have a passion for good trading, which at its essence is the ultimate insight into your own personality, or just a passion for making money at any cost...and somehow justifying it as being "right".


    #33     Aug 31, 2001
  4. Grabbit


    - originally by def -

    i didn't mean to imply you shouldn't check all details as certainly mistakes can be made. What I clearly meant to say is that IB has a solid reputation and the implication that the firm does anything unethical with an order (i.e. doing anything but a best effort basis to obtain the best price available) was totally off base.


    Fair enough.

    I respect the good reputation of IB. However that will never be enough to me, as I've been bitten by companies with excellent reputations as well (as already pointed out).

    As for stops in particular, Turok has made it clear enough that tampering by IB with stops and with the way they are filled is extremely unlikely.

    I will however, as you suggested, report anything that goes different than might reasonably be expected, to the helpdesk and ask for an investigation.

    And I'll be frank to you: Yesterday's stop went fine. It went live immediately, and I got filled almost at the ask (short position).

    I still have to agree with vvv too though, that it's time that the problems with stops are being dealt with properly, as the problem keeps coming up time after time.
    And as I see it, there's nothing "off base" about getting a little suspicious then, nor with expressing that suspicion on the board. As for the way I formulated that suspicion, well I might have phrased it differently, but then again, communication on a board is to some extent informal, and I would not like to be on a board where it is forbidden to express frustration and irritation from time to time. So I won't edit that.

    #34     Sep 1, 2001
  5. tradex21


    Basically brokerage firms are like politicians thet tell you what you want to hear, kind of like"Pattern Day Trading" rules are for your own "protection". How would you like to clear through a firm where Gary Condit was the "chief administrator". Get my drift.:cool:
    #35     Sep 2, 2001