How I lost 10 grand to IB popups

Quote from trade2live:

Even grandpa holding GLD for the long haul and making 50 Trades a year with TWS
may need to get out in a split second, how can he know about all the idiosyncracies of TWS ? Is he supposed to spend his retirement dutifully studying every freaking
new release of TWS to know whether this or that has changed ?
Ib developers are irresponsible, arguably not providing a reliable platform is not very different than misselling of products or securities. I wish people would realize that.
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I wish you would realize that you overleveraged if your trade execution within a split second determines the annihilation of your account or not.

Gold going up 5 points should not be capable of wiping half your account out. That is called over leveraging, realize that.

If you are infact telling the truth about both the pop-ups occuring at the very moment the market decided to "jump". You should of realized that it could of happened at any moment before hand. It sounds like you basically went off luck when it came "oh, the market wont move that quickly against me" and luck has never lead to successful trading.

If gold alone jumped +5 points quicker than you could click yes or no your stop would of likely been slipped heavily in that situation anyways and you still would of lost your ass.

Even trading forex you will see minor to moderate slips if a very fast move occurs. Gold is the same if not worse.
 
Quote from wjk:

I misunderstood you. I'm thinking of execution. I don't consider the difficulty of the setup so much as the operation of the bracket. I should also mention that I only trade one instrument, and only use brackets with one stop and one target. I always use the same configuration of my brackets and make adjustments before or after execution so I have no need to change my setups.

I don't use booktrader at TWS, so I'm not sure how the hotkey execution would work with it. When I wish to buy or sell at IB, I place the curser on my instrument in TWS, and use the hotkeys. I have keys set up for simple buy or sell, buy or sell with bracket and offsets, inc or dec price or size, and cancel. Once the bracket is in TWS, I can adjust both size and price, again with hotkeys, and I can have different sizes in the target and stop of the bracket before transmitting. Very fast...except when TWS is in the middle of a freeze...but that's a different story.

I'm sure there are some pretty complex bracket setups which I don't use. Tradestation has come a long way in the last few years in that respect.
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Interesting. I trade emini NQs using TWS with pretty much the same set up. You must be combining hotkeys with buttons as I do which allows you to enter on the hotkeys and adjust with the buttons. Depending on volatility I switch between on/off of instant transmit. Did you know you can use buy/sell specific product hotkeys or buttons so you don`t have to place the cursor on the contract, just the proper column? I do this cuz I daytrade this one item only and I used to mistakenly hit the QQQQs row.

When people talk of wanting better platforms, I imagine they want the booktrader setup and use indicators I don`t need. I use only chart and price action, sometimes volume, to try pick off multiple points, not scalping for ticks which is perhaps why many require other platforms. How about yourself?
 
I have been using TWS for over ten years now and have traded every asset class IB offers. Anyone who claims TWS cannot be configured for one-click trading, instantaneous execution of futures, options, fx, stocks simpley is misinformed or too lazy to put in the effort to learn the platform. Furthermore, TWS offers tons of order types and from my experience most order types work flawlessly given one checked and understands how to set up orders.

I am not claiming that no easier platform exists. People should use whatever suits them best. But bitching about TWS generally comes from people who have a motivation to hype other platforms or got burned because they were too stupid to read before acting. Of course there are issues with TWS, but there are issues with ANY platform. One aspect TWS definitely has no issues with is instant execution if one wishes so. That moderators of this forum claim otherwise is ridiculous and just shows the low quality of most posts. Also, each and EVERY single pop up message can be turned off, if you dont know then read the f... manual. Additionally, stops worked each and every single time when properly setting them up. That the devlopers have no vested interest in this platform working correctly is a very childish claim. Enough said...
 
Grow up. You absolutely made a mistake (actually several). And you're making yet another mistake by not admitting and learning from your earlier mistakes. You're stupid and lazy and you got EXACTLY what you deserved.

P.S. Dream on loser... there's no chance of that happening to me because, unlike you, I make a point of knowing how things work BEFORE I need to execute.
Quote from trade2live:

I didn't make any mistake you idiot. This could have happened to you, and I wish it would.
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I'm not going to take a lot of time to learn TWS, it's horrible.. Here's a second opinion too: it's ugly... what's the point of learning it, they change it in little ways that screw people up royally all the time... I just think of them like assholes in my neighborhood, I'll not ever talk to them...

I use a chart program that allows placing trades by clicking on the chart. I can move stops by moving a line on the chart, I can have automatic bracket orders in place the instant I get a fill, or not... the developer of the chart package has to deal with TWS krap, not me...
 
Quote from Rickwitties:

You must be combining hotkeys with buttons as I do which allows you to enter on the hotkeys and adjust with the buttons.
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Actually, I'm doing everything with the hotkeys. I'm not using buttons. I simply select the appropriate row with the mouse, and do everything else with the keys. I use the up or down arrow to change rows, and I use a hotkey to transmit my order.

I only have one instrument (YM) in the trader workstation. When I was trading equities, I set up a separate page for each stock or ETF. I used the mouse to select the appropriate page.

My TWS is set up to be extremely simple. Minimum amount of columns and minimum tools in the toolbar. Nothing but the bare essentials. I'm using the classic style. I have my instrument page separated from the tool bar.

At TS, I do everything with the curser in the matrix. A single mouse click on my price places the bracket, and a drag and drop to adjust target or stop.
 
Quote from trade2live:

I have been trading YG ever since this contract was introduced so I know the in and outs of this market.
I traded stocks with IB, I ^noticed their stops are not reliable, I am not sure why but a few times they did not trigger and I had to manually close the position. Just those blown stops cost me more than a thousand all in all I would say.
But the 10 K i lost last week, I am fully counting on them to refund some of it in one way or the other. They owe me that money. The guy who designed TWS owes me 8,000 at least.
It should be taken out of this dimwit's paycheck.
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I guess I would have to think that it was not at all that IB caused your first loss. What if the market would have gone the other way? would you send them the difference? I think and of course I am only guessing that you would not have.

I don't mean this in a rude way but I believe that the first loss was a result of you not being prepared to make the trade. The second trade is totally on you after you 'found out' why IB rates are so low. Their TWS software is sh*t in many ways. From the sounds of it you know what your doing so I would guess that you will quickly figure out the software. IB is like McDonalds, they have the dollar menu and they are cheap and their service matches.

The stoploss settings I agree are total sh*t as well. I have seen stops not execute often as well as have heard others in chat say the same thing. various pop ups cost me money at times too and I been with them for a while (limit of 15 working orders on a side)

Best to you

Robert
 
if stops are not getting executed( if they were in place) you need a new broker........
trading without them is IDIOTIC.
period!!!!!!!!!!!!
 
Robert,

care to elaborate on those stops not triggered? Which asset, what trading time (off exchange time or not...), stop market or stop limit...I have seriously not have had a single time of issues with my stops. But I admit it can be tricky to set some of them up especially when you start putting in OCA orders with limits and stops together.

Just curious...

Quote from Robert Weinstein:

I guess I would have to think that it was not at all that IB caused your first loss. What if the market would have gone the other way? would you send them the difference? I think and of course I am only guessing that you would not have.

I don't mean this in a rude way but I believe that the first loss was a result of you not being prepared to make the trade. The second trade is totally on you after you 'found out' why IB rates are so low. Their TWS software is sh*t in many ways. From the sounds of it you know what your doing so I would guess that you will quickly figure out the software. IB is like McDonalds, they have the dollar menu and they are cheap and their service matches.

The stoploss settings I agree are total sh*t as well. I have seen stops not execute often as well as have heard others in chat say the same thing. various pop ups cost me money at times too and I been with them for a while (limit of 15 working orders on a side)

Best to you

Robert
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