Did IB just screw me or was it the exchange?

[JSOP]

1) Wrongo. The update had nothing to do with Trader99's choice to log off/on. Why didn't he hit Cntrl-F? Cntrl-R? We don't know. Why didn't he wait? Don't know. But updates are not triggered by log off/on.

He waited but the order status did not change until he logged off and logged back in. This is not the first time that TWS does this. So many times, even charts would not be displayed properly in TWS and then once you close down TWS and re-open TWS and log back in, everything would be fine.

2) As compiled code from human-readable origins, Java is not the quickest. But by no means is it "the slowest programming language on Earth;" rather, the opposite.
http://www.financial-hacker.com/hackers-tools-zorro-and-r/

Slow enough to be not working properly.

 

[trader99]

IB may have designed the color codes to inform traders better of the status of their order but a trader shouldn't have to close down the entire application and restart it again in order to see the color codes getting updated which is what @trader99 had to do. The whole time that he had TWS open, the order status illustrated by the color codes never got updated and that also contributed to him entering duplicate closing orders. And that has really defeated the whole purpose of having multiple color codes. If you are not going to update them in a timely manner, it's the same as having just one color code.

IB's whole system is written in Java, the slowest programming language on earth so not surprised that this happens.

Exactly! I entered multiple orders because I didn't see the status change. So IB actually filled my original order but didn't update the status. It still showed me SHORT when I was already filled. So I didn't know and enter another series of longs, which it subsequently got filled too.

I had to SHUT DOWN TWS then open it again to see that I was now long. Just ridiculous.

Sorry for the late respone. I wrote this this morning before going to work. Now I'm home and have some time to read through all of you guys comments. Thanks everyone!

 

[sprstpd]

Exactly! I entered multiple orders because I didn't see the status change. So IB actually filled my original order but didn't update the status. It still showed me SHORT when I was already filled. So I didn't know and enter another series of longs, which it subsequently got filled too.

I had to SHUT DOWN TWS then open it again to see that I was now long. Just ridiculous.

Sorry for the late respone. I wrote this this morning before going to work. Now I'm home and have some time to read through all of you guys comments. Thanks everyone!

You are jumping to conclusions just because it fits what you think happened. It's just a coincidence that when you logged out and back in, the status updated. If you had stayed logged in, you would have gotten the update but since you weren't, you didn't see it.

Chalk this up as a learning experience. When you have a pink status color, don't assume your order is cancelled. If you get into this situation again, call or chat with IB and have them look at it.

 

[tomorton]

Like wise old pilots say, "Always believe the instruments".

 

[trader99]

You are jumping to conclusions just because it fits what you think happened. It's just a coincidence that when you logged out and back in, the status updated. If you had stayed logged in, you would have gotten the update but since you weren't, you didn't see it.

Chalk this up as a learning experience. When you have a pink status color, don't assume your order is cancelled. If you get into this situation again, call or chat with IB and have them look at it.

Actually I stayed logged in too long. I waited for like 15-20mins. I should have logged out right way when it seems stuck. Then log back in then it would have updated it. Then I would have gotten out of the wrong long and got back in the original short and still ended up profitable like I originally intended.

Lessons learned. When things are stuck log out right away and log back in. Rather than wait for the system to catch up.

 

[JSOP]

Actually I stayed logged in too long. I waited for like 15-20mins. I should have logged out right way when it seems stuck. Then log back in then it would have updated it. Then I would have gotten out of the wrong long and got back in the original short and still ended up profitable like I originally intended.

Lessons learned. When things are stuck log out right away and log back in. Rather than wait for the system to catch up.

One shouldn't have to wait 15 minutes even just to see the order status update. This is way unacceptable. If one still has to resort to talking to a live person to find out about order status, then what's the point of using an automatic real-time trading platform? We will just go back to phoning our brokers like the old times then.

This is me overthinking this but I hope this is not a scheme of some sort by IB forcing people to do phone-in orders which cost $65 per trade.

 

[athlonmank8]

They maybe cheap but you will find over time that the losses that you incur due to their substandard software and/or server, their extra fees and their stringent margin policy would make them the most expensive broker that you would ever trade with. You won't make any money with them.

I make money with them, but youre definitely right

 

[ktm]

Are you sure it's not the exchange? IB can be fast but if the exchange doesn't send replies in time, it doesn't help.

Could be the exchange. I have no idea. Something is amiss somewhere...sometimes.

 

[sss12]

Exactly! I entered multiple orders because I didn't see the status change. So IB actually filled my original order but didn't update the status. It still showed me SHORT when I was already filled. So I didn't know and enter another series of longs, which it subsequently got filled too.

I had to SHUT DOWN TWS then open it again to see that I was now long. Just ridiculous.

Sorry for the late respone. I wrote this this morning before going to work. Now I'm home and have some time to read through all of you guys comments. Thanks everyone!

Wrong....why would you enter multiple orders ? What did you think happened to the first one ?

 

[d08]

Could be the exchange. I have no idea. Something is amiss somewhere...sometimes.

The OP should ask IB about it, it makes a big difference.