IB, Globex and Limit / Stop Orders

[daniel_m]

Originally posted by chisel


A buy limit trigger at 810 with a limit order to buy at 809.50 worked before on Globex....it still does on A/C/E. Try it.

Does this type of order work for anyone else on Globex or did this change since Globex orders went native?

chisel, it's probably a good idea to use standard terminology. that way everyone is talking about the same thing.

a "buy limit trigger" at 810? sounds to me that's just a " buy limit for 810". i don't see a "stop order" anywhere.

if you put in a buy limit @ 810, of course you could get filled below it, @ 809.75 for example.

a buy stop-limit order, stopped in @ 810 with a limit of 809.75? why would you want that? you want to be triggered to buy @ 810 but don't want to be filled any higher than 809.75? weird.

 

[profitseer]

globex only executes limit orders.

as far as globex is concerned, a mkt buy at 825.50 is a buy at 829.50 limit.

A sell stop at 810.25 becomes a limit order when 810.25 trades as sell 806.25 limit.

all orders are converted to limits, both mkt and stop

 

[chisel]

Originally posted by daniel_m


chisel, it's probably a good idea to use standard terminology. that way everyone is talking about the same thing.

a "buy limit trigger" at 810? sounds to me that's just a " buy limit for 810". i don't see a "stop order" anywhere.

if you put in a buy limit @ 810, of course you could get filled below it, @ 809.75 for example.

a buy stop-limit order, stopped in @ 810 with a limit of 809.75? why would you want that? you want to be triggered to buy @ 810 but don't want to be filled any higher than 809.75? weird.

Daniel,

Thanks for correcting me. What I'm saying is that a buy-stop TRIGGER at 810 with a limit to buy at 809.75 worked in the past when the Globex stops were not native.

I think there is enough noise in the minis that this type of order works overall. Of course I'm watching it very closely and I didn't use this type of order all the time.