You knew, or should have known something was up. This can and does happen w/ any broker. Count it tuition and be the wiser next time.
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IB fill reporting DELAYED
- Thread starter pretzel
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You knew, or should have known something was up. This can and does happen w/ any broker. Count it tuition and be the wiser next time.
Quote from FX-Trader:
Ok, I guess that you received status MAGENTA, when you tried to cancel your order. This means that there was no confirmation for your cancel request received from Globex. And the reason is simple: Your order had been filled already.
# I think that IB should definitely change that status MAGENTA thing !
# Show a popup window ´No orders found´ or something like that !
Why should IB change this? I have received MAGENTA a number of times myself (on options orders) and don't like it any more than anyone else. You are correct that it means the order was not definitely cancelled, but the reason is not simple.
In most instances, IB reports that the exchange "cannot find the order" and it stays pink the rest of the day. If I want to launch another one, I am risking getting filled twice. Most of the time, the first order dies on the vine or was cancelled and there was a system glitch. I certainly believe that a specialist has, on more than one occasion, "found the order" later in the day and filled it - strangely enough when it benefits him to do so.
While there certainly could be a conspiracy here, I am more inclined to think that two computers are not talking to each other somewhere along the line. MAGENTA means the order is in limbo, and may or may not still be active. It sucks, but I would rather have that honesty from IB than a costly reversal later. IMO, it's better to just say "we don't know" if that is in fact, the truth.
If a market trades THROUGH your price, you are entitled to a fill (unless desgnated fast market conditions exist), so you also have the option of waiting until the dust settles, then, if it didn't get filled, you can request the fill at your price based on time & sales. Also, that is why you need to use C/R. Any time you have multiple orders working, they can all get filled, and usually do at the worst possible times & prices.
Jessie
Jessie
Quote from pretzel:
This is what happened:
1. I have an active sell limit at 978.25
2. the market moves past 978.25
3. I dont have any indication on the TWS that my order was filled
4. I thought my computer or TWS has a glitch
5. I cancelled the order
6. Sold another one at market.
7. My position says 0
8. The canceled order was stuck all the time - contract is 0 but the line did not disappear
9. I got a phone call from IB saying I have a sell at 978.25 which was not reported ( 2 hours after the fill)
10. The fill was added to my TWS another hour later
pretzel
I think you've already gotten some good advice from other posters, but number 8 indicates there was a problem with the order. Why not contact IB and get to the bottom of it before reinitiating the same trade? If I'm not mistaken they have live help which is faster than their phone service.
Quote from trader3:
I think you've already gotten some good advice from other posters, but number 8 indicates there was a problem with the order. Why not contact IB and get to the bottom of it before reinitiating the same trade? If I'm not mistaken they have live help which is faster than their phone service.
Thanks to all replies. Learned my lesson - good thing it was not expensive.
I'm not sure if the live help deals with account problems - anybody has any experience?
pretzel
In my experience (calling in on MAGENTA orders), IB will call the exchange and attempt to get some resolution. Often, it doesn't work, but they certainly try. I have ONLY dealt with option orders and PHLX is probably the worst offender from my personal experience.
It's a different situation on a GLOBEX order.
It's a different situation on a GLOBEX order.
when i click on account tab message pop up-"The download is procceding. Please check it later"
wow! what download? now i was unable to see my account. recently IB cancel all my open orders without a single notice(imagine-you open you TWS and all your stops are canceled!) how about that? no apology for that, even after call, next day-unable to login. ok, things happens. now -download procceding.
shit-i'm getting tired....
wow! what download? now i was unable to see my account. recently IB cancel all my open orders without a single notice(imagine-you open you TWS and all your stops are canceled!) how about that? no apology for that, even after call, next day-unable to login. ok, things happens. now -download procceding.
shit-i'm getting tired....
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