Did IB just screw me or was it the exchange?

[sprstpd]

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.

You wouldn't have to wait 15 minutes if you called in about the order immediately when the status color turned pink. It is nice to know that I can call in if there is technical problem with an order and someone at IB can look at it.

As for your other allegations, you have a known history of IB bashing so everyone reading it should consider the source.

 

[sprstpd]

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.

Simplest explanation is that you just happened to log out and log back in during the moment when the order finally got a status update. If you really want to know for sure, maybe the order's complete audit trail would tell you.

 

[trader99]

Just to be clear. I actually LIKE IB! It's a good platform for retail traders. Definitely has its issues. Over the years it has been fine. But every once in a while these quirks happen that frustrates and confuses me.

For example, one time(during Brexit maybe?), i put a position overnight and had a stop. IB apparently does not place stops until the next day!! So, even if you have a stop in place it doesn't execute until the next morning. Total disaster!

Nowadays, IB gives you a warning to let you know. But back in 2015, I don't think it did. haha

 

[d08]

For example, one time(during Brexit maybe?), i put a position overnight and had a stop. IB apparently does not place stops until the next day!! So, even if you have a stop in place it doesn't execute until the next morning. Total disaster!

Nowadays, IB gives you a warning to let you know. But back in 2015, I don't think it did. haha

If you don't allow it to execute outside of regular market hours then of course it's not active outside of RTH.

 

[JSOP]

You wouldn't have to wait 15 minutes if you called in about the order immediately when the status color turned pink. It is nice to know that I can call in if there is technical problem with an order and someone at IB can look at it.

As for your other allegations, you have a known history of IB bashing so everyone reading it should consider the source.

Well anybody who can read would see that I said "I am overthinking this but I hope..."; I didn't accuse IB of anything but the slowness of their trading platform is a well-known issue and I am not the only one who have/had problems with this. Looks like there is a lot of IB cronies here who instantly jump to IB's defense whenever anybody discusses any problems or issues with them.

 

[sprstpd]

Well anybody who can read would see that I said "I am overthinking this but I hope..."; I didn't accuse IB of anything but the slowness of their trading platform is a well-known issue and I am not the only one who have/had problems with this. Looks like there is a lot of IB cronies here who instantly jump to IB's defense whenever anybody discusses any problems or issues with them.

Well anybody who can read would see that you are trying to accuse IB of wrongdoing in a roundabout manner. There was no need to make that comment unless you are trying to purposefully disparage IB.

Every broker has problems, including IB. In this case, the OP should have educated himself on what a pink status means. In cases where there is a question of an order's status, call IB and have someone take a look at it, rather than wait 15 minutes wondering.

 

[Ryan81]

Per IB's website about order status color codes: "Pink indicates that you have sent a request to cancel the order but have not yet received cancel confirmation from the order destination."

Sounds to me that this can happen for any number of reasons. Could it have been a network or infrastructure problem with IB? Sure. Could it have been network connectivity issues on your end (or your ISP's end)? Sure. Packets can get dropped. Could it be that the exchange or the market marker is having issues and hasn't sent a confirmation? Sure.

Shit happens. There are inherent delays and glitches with sending stuff over networks -- especially public networks like the Internet. Deal with it and move on. Again, the sheer number of color codes that TWS displays should keep you up to date with the status -- and it is more than sufficient in my mind -- to have 12 different color codes to keep you apprised of the status of an order and what state it is in. If you don't have a code that signals a confirmation -- then it is exactly that.. .Nothing is confirmed and you literally don't know the status. Should be a lesson learned to you -- don't send another order if you don't want a double fill in this scenario. Better yet, next time, modify and order instead of doing a cancel-and-new-order.

 

[JSOP]

Well anybody who can read would see that you are trying to accuse IB of wrongdoing in a roundabout manner. There was no need to make that comment unless you are trying to purposefully disparage IB.

Every broker has problems, including IB. In this case, the OP should have educated himself on what a pink status means. In cases where there is a question of an order's status, call IB and have someone take a look at it, rather than wait 15 minutes wondering.

I am free to make any comments I want regarding any broker. You make whatever assumptions, innuendos, interpretations, accusations you want from my comments.

It is NOT normal that one has to wait 15 minutes to get an update on an order status and still have to phone in to check with a trading desk. What is it that this trading desk is seeing that we are not seeing when the trading platform offered by IB TWS is supposed to be connected to the same exchanges displaying the same information to us as to them? Why is it that this "trading desk" can see the order status updated that we can't? If there is a difference in the software that they use vs TWS, then I want what they have. We are the ones who's actively trading. Don't you think we should have the software that gives us the most up-to-date information? No, of course, you don't. You are just a troll playing to be IB's cronie.

 

[sprstpd]

I am free to make any comments I want regarding any broker. You make whatever assumptions, innuendos, interpretations, accusations you want from my comments.

It is NOT normal that one has to wait 15 minutes to get an update on an order status and still have to phone in to check with a trading desk. What is it that this trading desk is seeing that we are not seeing when the trading platform offered by IB TWS is supposed to be connected to the same exchanges displaying the same information to us as to them? Why is it that this "trading desk" can see the order status updated that we can't? If there is a difference in the software that they use vs TWS, then I want what they have. We are the ones who's actively trading. Don't you think we should have the software that gives us the most up-to-date information? No, of course, you don't. You are just a troll playing to be IB's cronie.

I never said they have different information at IB then what you are seeing on TWS. I take it this is another of your IB conspiracy theories.

When you call into IB and talk to an actual human, they can look at the audit trail and more importantly call the exchange on your behalf (something that you can't do). It is possible they will come back with no additional information, but many times they will figure out the problem and the true status of the order.

Just watching the order for 15 minutes wondering why it isn't cancelling doesn't seem particularly smart to me. I suggest not to do that.

 

[JSOP]

I never said they have different information at IB then what you are seeing on TWS. I take it this is another of your IB conspiracy theories.

When you call into IB and talk to an actual human, they can look at the audit trail and more importantly call the exchange on your behalf (something that you can't do). It is possible they will come back with no additional information, but many times they will figure out the problem and the true status of the order.

Just watching the order for 15 minutes wondering why it isn't cancelling doesn't seem particularly smart to me. I suggest not to do that.

I never said you said they have different information. You are either very poor in reading comprehension or again you are not reading my post at all in your efforts in proving that I have some kind of "conspiracy theory" about IB. Fine, I guess the only reason why they would have additional information over us is this calling into exchanges to get the confirmation then, something that we truly cannot do.