Maybe we should all just roll over and never criticise our brokers or their software. That will lead to improvements I'm sure. I have colleagues who got badly burned last Friday when they had entered stops on IB and never got filled. Sorry if that upsets the apple cart for some folk. Some are out money because of it. Such nightmares just don't happen when you use a broker who lets your stop rest on Globex. Just because this issue hasn't hit you personally (or because you've figured a workaround that works for you) doesn't mean that others aren't getting burned. IB KNOWS they've got an "issue" with the way they process stops. They have consistently ignored it and tried to brush it under the rug. It's good to beat them up for it ...maybe they'll eventually do something about it and we can all love them That's my point and it's 100% valid.
You mean your colleagues did not know how IB handled stops last friday? Surely they knew they needed to enter stop-limit orders in order for them to sit on GLOBEX, no?
so why not just one of the tools such as Bracket Trader which does it all. one click bracket orders. all stop limits. adjust stop limits with one click, up, down, break even, you name it. super fast and all globex held. just a thought.
I've no idea what they knew but I think the required reply is: "If IB didn't fill their stop orders which the system accepted as working, then they have a legitimate grievance" not (to the effect of) "it's their own fault for not knowing that IB stops are a joke". Boy oh boy, what will it take to get agreement on such a basic point that IB plain stops are handled horribly? Is it that controversial to agree with this, or do you work for IB?!
Futures traders are very very likely to get wiped out when trading in a unstable and nasty system. If you like an example, I will introduce one to you.
i think Sims issue is that IB should submit Stop orders on globex as Stop Limit orders - not hold them because all they are doing is submitting a stop limit order (with limit way thru price) when the activation price is hit anyways. it does make sense but what also makes sense is not depending on a server off the exchange to hold your orders. just use stop limits with a limit way thru price. update the trigger price only when moving it.
On systems that allow Traders to single click trade from depth, you can set the slippage on stops as a default. I believe that TT and I know FFastFill allow the trader to set his slippage in Preferences and then just double click on a price to enter a Stop with a default limit. These trades are housed on the CME's servers. Riskless
Absurd statement. You didn't get wiped out doesn't mean you will not be. It also doesn't mean others had not been or will not be wiped out.