GLOBEX T-Bond (ZB) during volatile times

PetaDollar · May 6, 2004

Just wondering what everyone's experiences are with the ZB during extremely volitile times, like Fed days. Specifically, what kinds of stop and/or profit taking orders have you used, and how has it worked out for you.

I had a protective stop (non-native) on TWS this past tues. and got filled three ticks past the stop price.

I'd be worried about not getting filled with a stop limit as a protective stop. I suppose one solution would be to use the native stop-limit, but put the limit price far away. This way I could almost guarantee a fill but have the speed advantage of a native order.

SethArb · May 6, 2004

so could there be a big difference between native and non native stops orders on ECBOT assuming these are both options?

what is the default option ?

PetaDollar · May 7, 2004

oops.

I am so used to being on the GLOBEX, I forgot ZB was on the eCBOT. Looks like I need to read up on how their orders work.

PetaDollar · May 7, 2004

Quote from SethArb:

so could there be a big difference between native and non native stops orders on ECBOT assuming these are both options?

what is the default option ?

Well on the GLOBEX stop-limits are native by nature, and plain stops are held on IB's computers then sent as market orders.

PetaDollar · May 7, 2004

Looks like IB has the best documentation on eCBOT order types.

Here's the link.

Still interested in hearing folks' experiences during volatile times.

m_c_a98 · May 7, 2004

well ecbot does not offer stop orders on the system. your broker has to simulate a stop for you in their software.

PetaDollar · May 7, 2004

Looks like the eCBOT has no native stop orders of any kind, unlike the GLOBEX. Holy cow. Why would you care? Well, e.g., right now I have two open positions on the GLOBEX and TWS is down. I don't care, because I have stop-limits in on the GLOBEX (native to that exchange). So even if there is a catostrophic failure with IBs computers (not saying there is, just saying, "what if..") doesn't matter because the GLOBEX has the order.

chinook · May 7, 2004

Quote from peterfigliozzi:

Looks like the eCBOT has no native stop orders of any kind, unlike the GLOBEX. Holy cow. Why would you care? Well, e.g., right now I have two open positions on the GLOBEX and TWS is down. I don't care, because I have stop-limits in on the GLOBEX (native to that exchange). So even if there is a catostrophic failure with IBs computers (not saying there is, just saying, "what if..") doesn't matter because the GLOBEX has the order.

I agree with you. Globex native stop limit orders give me peace of mind. I still can't understand why ecbot doesn't have native stop orders!

Chinook

TraderD · May 7, 2004

Could the loss of 3 ticks be attributed to the possibly poor eCBOT data feed IB gets in volatile times?

Can refco (man etc..) users reply on the fills they get on simulated eCBOT stops during volatile times?

qazwsxedc · May 7, 2004

Quote from TraderD:

Can refco (man etc..) users reply on the fills they get on simulated eCBOT stops during volatile times?

Yes. ZB is deep and liquid, so no probs - at stop most of the time, slipping by 1/32 couple of times a year, slipping by more than that ONCE in three years. I'm happy with that.