IB : the end of excessive messaging?

Quote from atticus:

ECN tickets are flat-rate to the clearer at that volume... so my guess is that IB is pissed that you're a "penny generator" on the commissions. I've never seen a commission charge under a dollar.
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it's called unbundled commission schedule..did you ever seen negative comm? i guess not..it's ok..
i'm not trading odd lots...it fucked IB's smart routing + HFT + subpenny shit.
if i start playing with order modifications via API using some algos-this would increase my fill ratio,but IB not going to be happy with all those modifications. i was actually aware of that long time ago. i'm the guy, who know their limits and never pushed them that far, but i got the slap in the face too..
just got off from phone with genesis-no extra fees on direct routing, no modifications fees, no API messaging limits, no fucking fill ratio,no rejections, no limit on open orders...looks good to me..
 
Quote from atticus:

Weighing the probability of you trolling against the prob. of IB fucking up leads me to believe that they fucked up. Are you sure you haven't traded any day in recent history at 781:1 ratio of cans vs. executions?
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that's what was trying to say...no way..there is no single day for months on this account without at least 50-100 trades a day
 
Quote from TraDaToR:

Here is what I got today:

"Dear Trader,

We have noticed a very high ratio of orders and order modifications relative to the number of executions in your account X. Every order instruction submitted by you (includes new order submission, order modification, cancellation) utilizes computing power. Excessive order activity can slow down IB systems and negatively impact other clients.
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I, being the other client, believe that IB raises a fair and legitimate concern. If you and countless others mess around to a point where it is slowing me down, I think IB should flog your ass until you're blue in the face. Why don't you run a rigorous backtest first before going live? Obviously, if you have to change your orders so frequently, either you don't know what you're doing or your system ain't robust.
 
think about all this from following perspective:

you work hard, 10-14 hours a day..making ..let(IB) come and said-we cut your salary by 10-20 K-

http://www.elitetrader.com/vb/showthread.php?s=&threadid=200077

then-they come again today and said-we going to cut your salary by another 20-30 K and your job is now in question..how you suppose to feel about it? this question is for IB's IT dept...put yourself on our shoes next time, before making any quick decisions..trading alone is fucking tough enough..
 
Quote from schizo:

I, being the other client, believe that IB raises a fair and legitimate concern. If you and countless others mess around to a point where it is slowing me down, I think IB should flog your ass until you're blue in the face. Why don't you run a rigorous backtest first before going live? Obviously, if you have to change your orders so frequently, either you don't know what you're doing or your system ain't robust.
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notice that in my particular case their calculations are plain wrong..
they simply punishing wrong guy..the guy,who feed them..
how many clients do they have? it's pretty fucking simple to figure out free riders. but they(Ib) unable to do that.
it's fucking sad and scary...
 
Geezus! Of the 781 orders that were placed, 780 were cancelled and only 1 was exectued. Just what the hell are you doing? You call this trading?!!

If you're merely testing your system, use your paper account instead. You still get access to realtime data and everything else you normally get in your regular account.

Quote from Bob111:

here is the picture of IB geniuses at work-

d73b8b6fe6f5.png
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Quote from schizo:

Geezus! Of the 781 orders that were placed, 780 were cancelled and only 1 was exectued. Just what the hell are you doing? You call this trading?!!

If you're merely testing your system, use your paper account instead. You still get access to realtime data and everything else you normally get in your regular account.
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The point of him posting that was to show that he has been executing much more then one trade so IB's math is wrong or something is f'd up.

My point of view on it is while I do not like restrictions of any kind there must be people abusing the system and at the end of the day IB is a retail broker.
 
I received the same email today too, with a ratio of about 25:1 for the sample period they measured. I have no idea what timeframe they used because it doesn't match any of my logs, but oh well. My system is mostly automated, in a nutshell it sends out a bunch of orders in the morning, adjust them a few times do to market conditions then cancels them at market close. Simple. How this could possible cause load issues with their servers I have no idea. Imagine a simple automated system that sends 6 orders at 9:30, gets one execution and cancels the remaining at 4:00. Guess what, you've exceeded their 10:1 "acceptable" ratio. I honestly don't see how you can write an automated system and stay within 10:1 -- anyone out there that trades via the API not get the email?

Anyway, for the moment I'm changing my TIF from GTC to DAY as they recommend to at least remove most of the cancels. I'm hoping this email was just meant to get heavy automated traders to work on optimizing their systems to reduce their overall server loads and they aren't serious about charging higher commissions for anyone that cancels/modifies not unreasonably large batches of orders.
 
If those commission on the right side of the pic is legit, then obviously IB screwed up. Nevertheless, 780 cancellations are a overkill however you look at it.
 
I can see this effecting people who do opening orders and put out hundreds of orders only to get filled on a few. I guess you will have to go prop now.
 
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