We cancelled an order in to buy 10k shares of a stock as it was nearing the close of the day and could not hold the position, and did not want to hold the position over night. The order had already disappeared from the screen, when suddenly heard a beap, indicating the order went through, and had to sell at a loss. Emailed IB and am waiting to see if they cooperate to arrange to bust the trade. I know Thinkorswim, Choicetrade, and a number of other brokers would do whatever they can to help a customer bust a wrongul trade.
IB: Several seconds after cancelling an order...
- Thread starter Option Trader
- Start date
NYSE.
I've seen this happen on NYSE with "filling" orders, but never with "cancelling" orders. In addition, I saw with my own eyes that the order was totally off the screen for 2-3 seconds.
Will IB help a customer bust a trade?
I've seen this happen on NYSE with "filling" orders, but never with "cancelling" orders. In addition, I saw with my own eyes that the order was totally off the screen for 2-3 seconds.
Will IB help a customer bust a trade?
Look at your audit trail. It can be found under View on the top level menu.
You should see a "Cancel Order" entry when you entered the cancel and that should be followed by a Cancelled entry. If the Cancel is there IB will probably get things straightened out. Also see the thread below.
The thread covers what appears to have happened to you (I'm guessing). It gets a little abusive in spots but the info is there.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=68101&highlight=cancel+red
Jack
You should see a "Cancel Order" entry when you entered the cancel and that should be followed by a Cancelled entry. If the Cancel is there IB will probably get things straightened out. Also see the thread below.
The thread covers what appears to have happened to you (I'm guessing). It gets a little abusive in spots but the info is there.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=68101&highlight=cancel+red
Jack
From what I've seen the fastest way to get a fill at the NYSE, is to hit CANCEL! 
TWS was just a little slow, probably...
good trading to all
TWS was just a little slow, probably...
good trading to all
Thank you Jack for this info. I pasted and sent the audit trail to IB.
The audit trail shows the request to cancel was received two seconds before the fill.
CancelOrder
MsgType OrderCancelRequest
SendingTime 20061024-19:27:06
Filled
SendingTime 20061024-19:27:08
OrdStatus Filled
Side Buy
ExDestination NYSE
SecurityExchange NYSE
OrderQty 10000
Do you know if that means that NYSE received the request two seconds before? (It seemed to me about 3-5 seconds since the cancellation was actually sent to IB.)
The audit trail shows the request to cancel was received two seconds before the fill.
CancelOrder
MsgType OrderCancelRequest
SendingTime 20061024-19:27:06
Filled
SendingTime 20061024-19:27:08
OrdStatus Filled
Side Buy
ExDestination NYSE
SecurityExchange NYSE
OrderQty 10000
Do you know if that means that NYSE received the request two seconds before? (It seemed to me about 3-5 seconds since the cancellation was actually sent to IB.)
Quote from Wayne Gibbous:
From what I've seen the fastest way to get a fill at the NYSE, is to hit CANCEL!
TWS was just a little slow, probably...
good trading to all
that's correct.
option trader, that's the norm on nyse, it happens all the time to me, sometimes can be good most times not.
Shocking stuff.
In checking the audit trail, the gap of time between the request and "Place order" and "Acknowledged" is zero to one second, throughout the report (a long report), say an average of 1/2 second. Suddenly, this one, the biggest of them all, was not acknowledged even two seconds later!
In checking the audit trail, the gap of time between the request and "Place order" and "Acknowledged" is zero to one second, throughout the report (a long report), say an average of 1/2 second. Suddenly, this one, the biggest of them all, was not acknowledged even two seconds later!