IB TWS convert stop to market order?

[InTheZone]

Your welcome.

 

[TMTrader]

Remember, you can't change an order everytime you make a change in an open order, you are actually cancelling the old one and resubmitting a new order. Thus, last one in the queue again.

TM Trader

 

[Robby]

With the OCA solution, what happens if you only get a partial fill on the market order?

 

[illiquid]

Quote from TMTrader:

Remember, you can't change an order everytime you make a change in an open order, you are actually cancelling the old one and resubmitting a new order. Thus, last one in the queue again.

TM Trader

True, but I don't think that's the issue at hand here. We're just looking for a way to exit a trade without risk of getting both an open stop and a market order executed at same time, or conversely leaving yourself exposed by having to cancel the stop order first.

Quote from Robby:

With the OCA solution, what happens if you only get a partial fill on the market order?

Good question

 

[rtstrading]

BT has the ability to convert the order to a market order after xx seconds....at least that's what it shows in the strategy for the order.
Might be useful.

www.buttontrader.com

Bob

 

[profitseer]

The way I would do it, after you have your stop order in, set up but don't enter a mkt order with the same oca as the stop. If you need to exit, hit transmit on the mkt order and the stop will get cancelled.

But I don't use mkt orders anymore. Occasionally on globex when I use mkt orders I get "unable to value contract".

Better is to use "Buy ask plus 4" or "sell bid minus 4"