gbp stopped out at 1.9151-59 after emloyment

1.9155? pbb, you realize that qualifies as a new multi-year high in cable... Talk about outliers.

This might not be what you want to hear, but you don't want to trade the news -- especially something as market-moving as NFP -- on IB IDEALPro. In theory, sounds like a good idea; in practice, anything but. I speak from extensive first-hand experience.

Instead, consider using CME futures -- IB is fine, especially with a good front end (e.g., ButtonTrader) -- or an ECN like Currenex or Hotspot. Oanda (not an ECN) would also be a far better tool of choice for news trading than IB. The highest ask on Oanda around NFP today was only 1.91075 (not a typo), even with a briefly widened, 10-pip spread on cable.
 
Hi Late Apex,

I don't trade news, just swing trading. I do use brackets to protect my account. Don't get me wrong, I don't mind being stopped out, I do mind that the prices are far from what is seen in the market ( keeping in mind that it is not regulated). For swing trading till now ideal pro has been great, this however is something that makes me wonder. CME-futures don't let me trade all pairs and is more comlpicated using moneymanagement/position sizing/account-allocation.

Gr. Pieter
 
I see. Well, that still leaves Oanda and ECNs to consider. I agree that you should file a claim promptly, regarding that significantly off-market fill. How that claim is handled will probably influence your choices, going forward.

I assume you know what to do... If you haven't already, immediately make a copy of your Audit Trail, as well as print out the relevant part; save your Trades window; save your charts; call Customer Service; file a Trouble Ticket online today; don't neglect to follow up systematically, as needed. Good luck.
 
Hi Businessman,

How do you get the proper charts from IB, I don't get the ideal pro prices on the chart. Other charts are no problem

Thanks,

Pieter
 
At 8:30 Am London is still trading unless you are talking about a different London :D.

And what I am referrring to is something i think Kathy Lien wrote about. US economic reports are still relevant to London.

Sorry to get off topic...


Quote from ssblack:

2 things here (not meant rudely in any way!)

1. I believe he's referring to 8 30 AM EST which was right after the NonFarm Payroll data release, not during the London session.

2. The "stop hunting" you're referring to for London is not that at all, but an algorithm that is run to fill the previous days' orders. Lon Eagle may correct me on this one as I'm sure he'd know better, but this is a "V" pattern that happens 94% of the time during the London open. For those that know this, it is PRICELESS!!!
More...
 
Quote from Businessman:

IdealPro chart is showing 1.9127 as todays high.
More...

Maybe chart shows that but pbb is right.
I was watching IdealPro during that time and for one second there was spike up around 1.9155
Oanda did not have that spike.
 
WOW!
I rarely post on any price complaints (i.e. no central exchange, depends on pricing of your market-maker, blah-blah) but this is way out of order.

Reuters high 1.9120 bid no way you could have been stopped out at 55.

Is this the famous IB "no dealing desk" ?
 
Quote from pbb:


How do you get the proper charts from IB, I don't get the ideal pro prices on the chart. Other charts are no problem
More...

You need to select "Midpoint" price to generate a chart.
 
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