oh...and I hope you are all writing IB to let them know what you think. I emailed them today.
Most of the time, excessive order/trade ratios are caused by poorly optimized APIs or other order creation programs. These applications generate price changes that do not materially alter the likelihood of the order being filled. By example, when a stock is quoted 50.0-50.2, then an order change from 45 to 46 does not really change the likelihood of execution.
Quote from shortie:
Here is the translation of IB message I got using Babel Fish. I like Babel Fish because not only does it translate but it also cuts out the meaningless crap from the text:
"Since we ourselves prefer to flood the market with billions of limit orders, our customers are our direct competitors. The only way we can compete is to limit their submission/execution ratio to 10:1"
Quote from TraDaToR:
Exactly.
For those who are like me above 100: 1 ratio, what are you doing ? Continuing until you got a new solution with a new broker, with the risk of getting a 10K bill one day because they charged 0.1 $ per cancel or do you stop NOW?
atticus-with all due respect to 3 years old ET member-i specifically draw one line on the right to commission column..there is fucking 100-150 executions or so for today(line up to Thu) only...pay attention to what you see, before you postQuote from atticus:
781 orders and ONE execution? You're f*cking serious?
Quote from Bob111:
atticus-with all due respect to 3 years old ET member-i specifically draw one line on the right to commission column..there is fucking 100-150 executions or so for today only...pay attention to what you see, before you post