IB Limit If Touched Orders

[kostia00]

Quote from Catoosa:

The bad thing about LIT orders is there must be a trade at the trigger price for the order to go active. Trading through the trigger price will not trigger the order. This has happened to me many times. I think IB should change the trigger method for LIT so the order will go active if the trade price trades at or through the trigger price (buy if the trade price drops down to < or = the trigger price and sell if the trade price goes up to > or= the trigger price). Because of this problem, I usually use the conditional orders to buy if the price drops down to what I want to pay or sell if the price goes up to the price at which I want to sell. The bad problem with using conditional orders is each order takes way to long to setup prior to entering the order.

This is not the case, trading thru the trigger price would also trigger the order. If you have any examples to the contrary, please open an issue with our tech support. Thanks!

 

[Catoosa]

Quote from kostia00:

This is not the case, trading thru the trigger price would also trigger the order. If you have any examples to the contrary, please open an issue with our tech support. Thanks!

No, you are wrong!!!! I have hundreds of cases of this and I know of no time when the order triggered without a trade occurring at the trigger price. If I want to be sure my order will trigger, I have to take the time to setup a "conditional order" with the < or = and the > or =. If you have any doubts, enter some LIT orders to buy a thinly traded stock (below the current market price) with a large spread where the price must drop down to trigger. I have sent e-mails to IB about this issue many months and years in the past and as usual for IB, I never received a reply. It is like trying to communicate and deal with the USA Federal Government. I get better IB response and results by posting here on ET. For the eight years I have had an account with IB, I have found e-mails to IB, "Trouble Tickets", and "Suggestion & Complaints" are next to hopeless. Thank you for being here of ET and responding as you give me some hope.

Catoosa

 

[Catoosa]

Quote from kostia00:

This is not the case, trading thru the trigger price would also trigger the order. If you have any examples to the contrary, please open an issue with our tech support. Thanks!

Thank you for your post on the trigger of LIT orders. I was wrong in my above comments or maybe my in the past complaints to IB about this problem resulted in changes in the LIT orders. I just spent 2 hours entering many LIT orders in CHTT (Chattem, Inc.) and this is what I found: Twice the price traded through my trigger price without trading; However, on almost all the LIT orders in this test, the orders triggered when the trade price traded through the trigger price without trading at the actual trigger price. This helps me rebuild my confidence for the future use of LIT orders.