IB bulletin alerts to customers

[kiwi_trader]

Was it actually limit down when he went long or was it slightly above (bounced or not there yet). There were a few glitches up in the first 1hr 15m after it touched down.

It would certainly be nice to get a warning message ... but man, that is one flat line.

 

[Tums]

Quote from Raptor Deus:
It would be nice if IB's system would caution on opening a position on limit though.

Quote from johnpinochet:
I can't think of a reason why any broker would not have a warning pop-up during a locked limit down on the very market that a client is about to place a trade.

That' what FULL SERVICE brokers are for.

;-)

 

[Raptor Deus]

Quote from Tums:

That' what FULL SERVICE brokers are for.

;-)

If IB can send notices stating stocks from F through T are not available for trading in an exchange you have never heard of, they can do this too.

 

[JamesJ]

if you see 7@855 / 855.25@ 8328...
don't you suspect something wrong, with more than 8k offered...

 

[nassau]

Quote from kiwi_trader:

Was it actually limit down when he went long or was it slightly above (bounced or not there yet). There were a few glitches up in the first 1hr 15m after it touched down.

It would certainly be nice to get a warning message ... but man, that is one flat line.

I was within minutes. When the long position was taken it was within a minute or so that an attempt to exit one contract in the future alerted us. IB Switz was called and they could not exit either on limit or market and then after several minutes they advised that the market was locked on limit down and that the new position could be exited only in the form of a working order when the market opens.
That position should have been denied as the market is locked.

What I believe ethics wise is that IB and or any broker should advise the trader of the current situation.

w


w

w

 

[nassau]

Quote from JamesJ:

if you see 7@855 / 855.25@ 8328...
don't you suspect something wrong, with more than 8k offered...

obviously that was not the situation at the time.

the bid / ask were not out of range.

w

 

[thegazelle]

Who doesn't bother to at least glance at a chart before you place a trade? The flatline would have been the dead giveaway.

 

[nassau]

Quote from thegazelle:

Who doesn't bother to at least glance at a chart before you place a trade? The flatline would have been the dead giveaway.

You're to funny. The chart is now flatlined.
Go back and take it look at it at 5a.m.

w

 

[gnome]

Quote from nassau:

"... they advised that the market was locked on limit down and that the new position could be exited only in the form of a working order when the market opens.
That position should have been denied as the market is locked.

What I believe ethics wise is that IB and or any broker should advise the trader of the current situation.

Anybody can still go long even now at the limit price.. that's how it works. You should have known that all along.

Shoot, I've seen the limit price be THE low of the day. Could be the same today, you know.

 

[Cutten]

Why don't you know the price limits on all the markets you trade? That's a pretty basic requirement of professionalism for any trader.

If you want to be baby-sat, get a full-service broker, not a discounter. Yes it could be an improvement to have a limit-down alarm, but to say it is unethical not to have one is ridiculous bleating.