Cheap commsions with IB and..

[profitseer]

Originally posted by FX-Trader
For Globex you can use native STP LMT orders now. No need for simulated stops any more.

I guess that you had problems with IB´s simulated Globex stop orders. And yes, it is true for simulated Globex stop orders: If the connection between IB´s server and Globex goes down then your (simulated) stop might not get triggered at all. This happened several times during last 12 months (AFAIK).

FX, Are you sure about globex stop limits? I entered one, just once one time only a few weeks back after Ib had gone native, and I got a msg, "order type not accepted" . Now, I'm not sure I was entering it right. The only place I could find to enter stop limit was by changing the order default to stop limit.

I use reg stops everyday, many times a day for es. No problem. Always get the best price. Always, everytime. I use them because it's faster than hitting a hotkey to exit a loss quickly.

Stories of trade throughs are just a lack of understanding the mechanics of the order.

 

[fooliosbrother]

Originally posted by FX-Trader
I guess that you had problems with IB´s simulated Globex stop orders. And yes, it is true for simulated Globex stop orders: If the connection between IB´s server and Globex goes down then your (simulated) stop might not get triggered at all. This happened several times during last 12 months (AFAIK).

zactly. it was primarily the stop orders i had problems with although not exclusively. even if it was exclusive to stop orders the odd fact is that i dont have the same prob with stop orders with my current broker. i believe that the diff may be that my current stop orders are simply collared native stop limit orders that are labled stop orders in the software. whatever the case i just dont have the same issues i use to have. ive had some pretty crappy fills with IBs market orders and have been traded through and past on limit orders with no fill. its been mentioned that there may be a prob with my connection to IB or a server issue that might be the cause of the prob. def has kindly offered to help if i so desire and for that i am very thankful. def u r a credit to your company.

the point of my original post was only to validate the fact that some people can experience prob with IB that fly in the face of what others seem to experience. its pretty frustrating to say the least considering i would much rather be the person who was having zero issues and the fact that some people are so damn dogmatic about the whole thing.

Originally posted by profitseer
Stories of trade throughs are just a lack of understanding the mechanics of the order.

not in my case. i understand how that might be someones initial conclusion but im well versed in order mechanics and have been trading long enough to understand what is happening.

 

[def]

I should point out that jennajameson and foolio are talking about two different items. jenna infers that IB abuses order flow for equities- anyone trading with us knows that isn't the case. foolio is talking about not getting stops triggered or executed promptly. two seperate issues. i responded to the first claim earlier and did respond to foolio via PM. While his experience is not the norm, the only way to resolve it is to trace a questionable order. Perhaps we'll get the chance.

For the record, stop limits for globex are now native. stop market orders are not since globex doesn't support them. You can essentially simulate a stop market order by placing a large boundary on your limit price. I'm not sure if I'd recommend that though.

 

[fooliosbrother]

Originally posted by def
I should point out that jennajameson and foolio are talking about two different items.

yea, my comments have nothing to do with the porn queens post. i was only responding to comments made about IB and globex. and thanks again def for that quick response and follow-up. much appreciated

 

[profitseer]

foolio, Ok, My apology, yes, I would not use a stop with Ib that was not native. All stops are actually stop limits.

Not sure how a straight limit could be traded through. If it really happened, it is more than just an Ib problem. It is a serious enough problem that it could go all the way to the CFTC.

So yes, must be some kind of connection problem.

 

[profitseer]

Originally posted by def
I should point out that jennajameson and foolio are talking about two different items. jenna infers that IB abuses order flow for equities- anyone trading with us knows that isn't the case. foolio is talking about not getting stops triggered or executed promptly. two seperate issues. i responded to the first claim earlier and did respond to foolio via PM. While his experience is not the norm, the only way to resolve it is to trace a questionable order. Perhaps we'll get the chance.

For the record, stop limits for globex are now native. stop market orders are not since globex doesn't support them. You can essentially simulate a stop market order by placing a large boundary on your limit price. I'm not sure if I'd recommend that though.

Def, So what is an order that just says stop? I mean, I specify on tws STOP, it acts like a stop mkt, I see no where to specify a limit? Doesn't any mkt order have to be converted to a limit anyway? Are my stops native or not?

 

[profitseer]

and don't tell me they are straight stop limits at the stop price. I don't need to be living any closer to the edge. (That would explain the good fills though) oh man

 

[def]

Originally posted by profitseer
Def, So what is an order that just says stop? I mean, I specify on tws STOP, it acts like a stop mkt, I see no where to specify a limit? Doesn't any mkt order have to be converted to a limit anyway? Are my stops native or not?

if you are talking about globex, ACE or Eurex, just slide the mouse over the work limit and select stop limit. you can then adjust the prices. you can also set trailing stops this way.

I note that Liffe futures only offer stops. (they would be simulated stop limit orders). Not sure why we don't offer more functionality on that exchange but I'll check.

 

[profitseer]

Originally posted by def


if you are talking about globex, ACE or Eurex, just slide the mouse over the work limit and select stop limit. you can then adjust the prices. you can also set trailing stops this way.

I note that Liffe futures only offer stops. (they would be simulated stop limit orders). Not sure why we don't offer more functionality on that exchange but I'll check.

yes, I see now, there is an option for mkt. What exactly a mkt stop order is is beyond me. I don't even want to know. But there is some confusion between stop and stop limit and apparently the two are being used interchangably.

I consider a stop, a mkt order triggered when the stop price is hit (either trades, or bids, or offers depending on how you have it set up.) and a stop limit is triggered, but only executed within the limit range.

Man, a lot of concern about stops. But it is a result of living in the computer age. For you younguns out there, there was a time when we didn't have computers. Well, NASA had computers, so they just called it the Space Age.

 

[profitseer]

I guess if you're trading something really illiquid, you could enter a mkt stop order, and that would mean, if anything happens, stop me out (or in).