Def, Thanks bud......let us know how you make out and give us a post. That is if you can fit it in with the other million things that you have helped us out with in the past. Good job you're really appreciated here.
I would like to add 2 thoughts: 1. Avoid to enter orders when exchange is not open. You will get status PINK (unconfirmed order) and there is no way to cancel this order. When you try to cancel you will simply get status PINK (unconfirmed cancel). 2. When an order was entered with BEST routing and something goes wrong then it seems to be difficult for helpdesk to find out what exchange it was sent to. It might be better to send orders intended for pre-market directly to the ECN (INSTINET, ISLAND).
I have found exiting TWS and re-entering TWS sometimes clears the unconfirmed flags. Def, a suggestion for you to consider: the status colors can be tough for color blind people to read. Is there a way that we can have some text in that field as well describing the status? That would be helpful. -- ITZ
I did not get the name of the person I talked to.:eek: Last month when this happened at IB I got a call back saying the exchange could not find the order, but the possibility of a fill was always there. I was using Preferred Trade and had the same happened with them, but I didnt even know it. They called me 2 hrs later to let me know the status, which was very nice service.
This has been a problem I've written about a number of times here. It has only happened with me on option orders, and usually on GTCs that sit overnight. I don't figure it out til I'm showing as green but not posted as the NBBO when I should be. So I try and cancel or change the price and the order freezes pink. At one point, I called IBHelp 11 days straight with this problem. It has not happened to me in a few months, but when it did, I was at risk for the rest of the day only. The next morning, the order would always be gone. I would say maybe 10% of the time I would get filled later in the day. IBHelp promised calls back to me as well but never did. Most of the time, they would call all the exchanges and just report back that no one had the order. To the help desk's credit, they really tried but there was just nothing to report. I think they didn't call back because they had nothing new to tell me. I'm not that familiar with routing (I always use BEST), but I'm almost certain this is a computer glitch. I thought it was fixed.
I''ve had this also, What IB mentioned to me was that "At the time of you sending your order / cancel, the connection must have been halted. Try to log out and back in, if this doesn't solve then there's nothing else we / you can do. Tommorow !!!! the order will be gone from your tws." I must agree that it always dissappeard the next day. Perhap this shows new light to this discussion.
Yeah what is the deal with that anyway? They NEVER call back; why do they even say they will???? Seems pretty dumb.
If they don't get back to you before the opening the next day, assume you are not filled, unless there is some incredible market-wide dislocation. If you end up with a fill later and lose money, file an arbitration claim. It's one sure way to get their attention, and if you win, they may have to pay punitives in addition to actual damages and the costs of the arbitration. Remember, you are a customer and the broker has a duty to exercise reasonable care. Contrary to popular belief, the arbitrators generally side with the customer when he has a reasonable case.At least, that's what BD's tell me. My dad is a part-time arbitrator for NASD. He seems to think customers get a really good break if they have a case. However, if you file, you'll probably never get to arbitration as a loss for the broker becomes discoverable public info. He'll settle.