How to participate in the open?

[Drakhades]

Hello,


I am trying to figure out how to "get in on the opening trade".

I have a paper trading account at IB I'm using for testing.

I created a Limit on Open (OPG Limit) order, Buy 100 @ $9.90/share, submitted at 09:20 EST.

When the open comes around my trade isn't executed, even though the opening trade was about 1600 shares @ $9.85

Why would my paper trade not execute? I image it has something to do with *nebulous hand waving* "opening auction and designated market makers" but googling this doesn't give me any real insight.


PS: I'm new to trading, so pro-tips are welcome!

 

[Soon2Bgreat]

IIRC you can't fill OPG orders in their sim acct.

 

[Drakhades]

Thanks, IB's page on this doesn't mention limitations at the open. https://www.interactivebrokers.com/en/software/am/am/manageaccount/paper_trading_limitations.htm

But if you don't see any naive mistake in my method, that's probably it!

Thank you.

 

[loyek590]

Hello,


I am trying to figure out how to "get in on the opening trade".

I have a paper trading account at IB I'm using for testing.

I created a Limit on Open (OPG Limit) order, Buy 100 @ $9.90/share, submitted at 09:20 EST.

When the open comes around my trade isn't executed, even though the opening trade was about 1600 shares @ $9.85

Why would my paper trade not execute? I image it has something to do with *nebulous hand waving* "opening auction and designated market makers" but googling this doesn't give me any real insight.


PS: I'm new to trading, so pro-tips are welcome!

ib's paper account is very accurate, and I would advise anybody with an account there to spend a lot of time in it before you go live, but trades in the paper will not be executed until one trades live. So, in your paper you can be the best bid, but won't get hit until a live trade gets hit.

 

[Drakhades]

Related question, If I submit a GTC Limit Order at 09:20am, Does that have the opportunity to participate in the open?

 

[hajimow]

Related question, If I submit a GTC Limit Order at 09:20am, Does that have the opportunity to participate in the open?

Maybe that trade executed at $9.90 was at 9:29:55 and since your order may not include outside normal trading hours, your order will not get executed. The only difference between a paper account and a real account is that your order does not go the queue. Your order shows executed if a trade in that price or higher is executed.