IB - stops not triggering (again)

M

mtzianos

In ZB, I just had a resting STOP (115'27) order ignored and traded through as if it didn't exist, as price got up from 115'23 to 116'02.

I waited for about 2min (in previous cases, sometimes the order might have triggered, but be late to get reflected on TWS itself)

I had to cancel the STP order by hand and enter a new order to to exit, via a LIMIT order.

This is a major problem, that I've experienced again and again over the years (late 2002, 1Q2003 etc) with IB.

I try not to rely on IB stops (held on IB's servers), using the native STPLMT in Globex instead, but in eCBOT there's no such option.
 
I believe STOP orders destined for eCBOT are not triggered out of hours by IB, even if you have ticked the trigger out of hours box. You have to use STOP LIMITS or conditional orders.
 
today I put in a trailing stop on a nasdaq stock. i had a trailing stop of 1.00. the high of the day was 76.48. it traded up there then pulled back to a low of 73.90. Should my stop have been elected @ 75.48 ? My stop was never elected. Is this user error? if so can u tell what Ive done wrong? thx Jim
 
Quote from Steve_IB:

Yes, that will always happen because stops will not work at this time on the ECBOT, as per our website..

"ECBOT.....Specifically, stop-market orders will not trigger prior to 09:30 EST. Customers wishing to use stop orders should select stop-limit orders and ensure the ‘trigger outside of RTH flag’ is activated."

Information from the following link:
http://www.interactivebrokers.com/en/trading/usFuturesStopOrder.php
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IB should warn its customers about that via the trading platform instead of burying that info in the website !! Do you realize how much damage to a customer's account this little detail can cause?!!!
 
I'd like to compare notes with people trading markets beyond SIF (stock index futures), specifically bonds (ZB/ZN) and energy (QM, QG, COIL) with IB and 3rd party front-ends (Ninja, Button, Bracket etc).

Considering that IB's STOP orders are useless for those markets(can't be used during the market's own RTH, e.g. during the first 1hr10min of bonds' RTH), one needs to use STPLMT.

Which 3rd party sw can configure STPLMT offset between stop trigger price and limit order?

(e.g. in Ninja I believe it's hard-wired to 25 ticks, which is a problem).
 
Quote from mtzianos:

I'd like to compare notes with people trading markets beyond SIF (stock index futures), specifically bonds (ZB/ZN) and energy (QM, QG, COIL) with IB and 3rd party front-ends (Ninja, Button, Bracket etc).

Considering that IB's STOP orders are useless for those markets(can't be used during the market's own RTH, e.g. during the first 1hr10min of bonds' RTH), one needs to use STPLMT.

Which 3rd party sw can configure STPLMT offset between stop trigger price and limit order?

(e.g. in Ninja I believe it's hard-wired to 25 ticks, which is a problem).
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I use Zeroline trader and have not had a problem. You can configure stops eight ways to Sunday. You can also use ZLT stops wich are not held on IB servers but on your machine. I would actually be more comfortable with stops either at the exchange or on my machine. That way if IB goes down---you at least know your position. With stops on IB servers ---it seems to be no mans land. You can get out and then get your stops hit. There is no guarantee there. Something to think about. I have not used stops alot with IB to be honest. That would be my analysis though based on my trading experience.

www.zerolinetrader.com Dirt cheap and seems to work well with IB.
 
Here's a suggestion IB:

A new (and valued) feature along the lines of "check margin" on a new order line.

Perhaps a "check execution" -like function would be good. It would include a description of how the order, as configured, is programmed to execute, and under what conditions, for that specific instrument, exchange, expiry, account type, etc. etc.

This could have helped the OP in this instance. Given that I frequently move from instrument and market based on best -opportunity, I also get caught on the idiosyncracies of particular instruments/exchanges from time to time.

I know, I know, easier said than done. :)

BTW: Congratulations to me! 3 years and 1,000+ posts. Where the hell did the time go???
 
TGM, thx for feedback.

But, visiting ZL's website, I still can't tell if it supports per-instrument configuration of STPLMT offset (between stop trigger and limit order). I.e. different offset for YM than ZB.

E.g. Ninja doesn't. In case of trading QM with Ninja, when a STPLMT order is triggered, the LMT order will be so far away that it will be discarded (Disclaimer: it has been a couple of months since I last used Ninja).

Which is why one would opt to use IB's own STOPs, which don't work outside 09:30-17:00

I find it hard to accept that at this time and age, we are discussing such a basic things: having WORKING stop-market orders during Regular Trading Hours (as defined by the exchange), in a major market like US bonds!

:mad:
 
Quote from mtzianos:

TGM, thx for feedback.

But, visiting ZL's website, I still can't tell if it supports per-instrument configuration of STPLMT offset (between stop trigger and limit order). I.e. different offset for YM than ZB.

E.g. Ninja doesn't. In case of trading QM with Ninja, when a STPLMT order is triggered, the LMT order will be so far away that it will be discarded (Disclaimer: it has been a couple of months since I last used Ninja).

Which is why one would opt to use IB's own STOPs, which don't work outside 09:30-17:00

I find it hard to accept that at this time and age, we are discussing such a basic things: having WORKING stop-market orders during Regular Trading Hours (as defined by the exchange), in a major market like US bonds!

:mad:
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Yes, you can set diff. stop limits for each product ---you can use it free for 30 days or do the demo for free. I am sure it will do what you want.
 
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