IB: Several seconds after cancelling an order...

Quote from tef8:

fwiw i've had pretty good luck with hidden orders on island for stops on NYSE stocks,
they don't seem to be hit as much...

also for target limit orders i like the same method.

ARCA usually has a cent better price if you're in a hurry.
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arca has 1-5c worse price than nyse, and if by a chance there's a better one u can't hit it as far as i am aware.
 
Quote from Option Trader:

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?
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It's not IB's fault. IB has zero control over your cancel request except to let you know your cancel request went to the specialist. The Mofo Specialist has to acknowledge your cancel request sent via IB for your order to actually be cancelled. In fast moving markets expect to be screwed by Mofo. The mafia on AMEX is even worse. Stay away from AMEX stocks, period.
 
Quote from Bitstream:

arca has 1-5c worse price than nyse, and if by a chance there's a better one u can't hit it as far as i am aware.
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I also have the ECN's up on TWS as you have stated you do - for similar reasons :) - today on the stocks i was scalping arca was higher than island and equal to nyse on price.

May have been an anomoly but was definetely the case for me today.

In any event my preference is to exit almost anywhere but the NYSE so I can get out at my desired price. I'm sure now i'll hear about "price improvement yada yada etc" but all I've experienced on the NYSE is price un-improvement :).
I'm glad they went hybrid - was about to start trading Nas only.
 
ah, right...thot u said better price than nyse, not inet.
Quote from tef8:

I also have the ECN's up on TWS as you have stated you do - for similar reasons :) - today on the stocks i was scalping arca was higher than island and equal to nyse on price.

May have been an anomoly but was definetely the case for me today.

In any event my preference is to exit almost anywhere but the NYSE so I can get out at my desired price. I'm sure now i'll hear about "price improvement yada yada etc" but all I've experienced on the NYSE is price un-improvement :).
I'm glad they went hybrid - was about to start trading Nas only.
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I don't know the particulars of this case, however as someone who deals daily with exchange busts, I'd make one comment that e-mailing your broker for a trade bust is not the right way to go about it.

Many exchanges are very time sensitive to trade bust requests. You should be on the phone immediately.. or in the case of IB you can also complete a trade bust webticket from account management that will get picked up immediately.
 
Somtimes I got bored waiing for an order to fill on NYSE. So to speed it up I would cancel it- works like a charm, when you want a fill confirmation.
 
Quote from Steve_IB:
In the case of IB you can also complete a trade bust webticket from account management that will get picked up immediately.
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>> Customer Service Tools >> Trade Cancellation Request. IB description says:
Trade Cancellation Request
Oops! You made an error and entered 99 instead of 9.9 in the price? Use this web form to specify the problem trades so we can report them to the appropriate exchange. IMPORTANT: Time is of the essence. Most exchanges have very short time periods in which they will accept a request for cancellation so it is critical to get the information to us as quickly as possible. Trade cancel requests are not taken by telephone.
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Quote from Bitstream:

i am surprised it never happened to u before, it does to me on a daliy basis.
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Do you have the same experience with "replacements" of orders as opposed to simple cancellations?

For example, instead of cancelling the order to buy at $10.00, replacing the order to instead buy at $9.50?
 
Quote from Wayne Gibbous:

From what I've seen the fastest way to get a fill at the NYSE, is to hit CANCEL! :p

TWS was just a little slow, probably...


good trading to all :cool:
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lol I thought it was just me that thought that.

I can sit there forever waiting to be filled, but when I finally give up and hit cancel, my order is filled instantly.... 100% of the time
 
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