I wouldn't waste my time or IB's until I checked the Audit in the JTS. With practice you can confirm cancels and fills in 10 to 20 seconds on your own. Clearly one should insure that a transaction confirmation # follows the request. I wouldn't complain about the TWS help files or IB's level of instruction. This is a business where Billions of $ of yearly transactions flow through many of our accounts. Perhaps a healthy level of pananoia and redundant preparedness would be a prerequisite. Any problem that is ambiquous with the Audit or clearly "wrong" should trigger a speed dial. (#1 on my trade station phone..and gathering dust I might add)
omfg; a lawyer to solve a simple'n'clear matter like this[?], dunno da size of da trade but am ready to guess that da size of da loss would prolly not even be enough to cover da legal costs, r0r if ib is serious 'bout its biz shud come here discussin' its pos, i wudn't like it to find meself stuck with orders i deemed cancelled, suffer huge losses'n'be left holdin' da bag, wud ya[?]
Try taping your session with a cam- corder attached to your shoulder or on your head or hire a witness to sit beside you with a notepad. I used to get trade confirmations for trades i never made on stocks i'd never heard of. Also the execution confirmation wouldn't show and I 'd have to call my discount broker on the phone to see if an order filled (not at I.B.)- waiting while on hold listening to a recording of them bragging about their services. Sorry to hear about your troubles , hope it all turns out .
Bitstream, you are wrong, that is not what I wanted him to do. I already posted a response to nassau, clearly stating that his description of my opinion is not correct. I already explained that the IB procedure, for confirming a cancel, requires you to disregard the account window, disregard the execution window, disregard the disappearance of your order, and to look for the red-colored cancellation confirm signal, and to call IB immediately if that signal fails to show. I don't think that this procedure is at all unfair. I think that the unfairness arises from IB's failure to provide effective communication of this procedure to the great majority of its customers. Htrader, for example, is a very sharp guy, but even he didn't understand the correct procedure. This thread is what convinced me that IB's communication of this procedure has been inadequate. Please be more careful about inaccurately describing my posts, Bitstream.
Flaw in your logic. Let A = proposition that order has been confirmed successfully cancelled. Let B = proposition that order has disappeared from trading platform. We were told that A implies B. You misinterpeted this statement to say, in addition, that B implies A. This is a classic mistake of logic. The fact that A implies B does not mean that B implies A. Example: Suppose A = proposition that Jack is a convicted murderer, and B = proposition that Jack is a convicted felon. A clearly implies B, since all convicted murderers are also convicted felons. But B does not imply A, since you can be a convicted felon without being a convicted murderer. We shouldn't have to do this type of analysis in order to understand documentation on how to operate a trading platform. Your misinterpretation helps persuade me that the documentation is inadequate, and will inevitably create trading losses and disputes. But I think it is unfair to call a broker "unethical" just because of poor documentation, or because of a failure to provide compensation for poorly written documentation. I do believe that the customer here deserves compensation, because the documentation apparently confused the vast majority of traders in regard to order cancellation procedures.
-------------------------------------------------------------------------------- Quote from IBj: I am happy to present all facts (as well as address various points that have arisen in this thread) if the thread originator is willing to have details of the events surrounding his trade posted in this forum. -------------------------------------------------------------------------------- Not a problem. My name, my account number, the size of the trade, my account balance, and any other trades not related to this one are my personal business and not for public display. I have already shared what the audit trail says; IBj is welcome to confirm all that. The word for word transcript of the conversation I had with IB customer service can be posted as long as it excludes the aforementioned items. I'm way overdue for sleep, I'll check back with this thread in the morning. TRADERguy
TRADERguy, Sorry to hear that abymsal experience. So how are you going to sort this problem out? Did you try to explain it's their fault and ask for compensation? How did they respond? Would you try to sue them if they refuse to compensate? Last but not least, my best advice is to switch to another broker. There's no reason to stick with a suxky broker after you have encountered such a bad experience. Confirmation after 30 something minutes. Unacceptable!!
In order to answer your question you will have to find out the transaction time from your audit trail. ( SecurityExchange= IBFX; ... TransactTime= 20060427-XX:XX:XX )