IB YM Execution not reported by TWS

[Trader.NET]

No, I didn't cancel it. According to the log, it dropped off my screen and vanished from the entire system until hours later IB found it (probably from reconcilation with the exchange report after the mkt close).

I entered a new long but I didn't notice the order was DROPPED or VANISHED into thin air

Quote from Sanjuro:

Did you cancel your first long and enter a new long?
Or did you change the price of the long and
hit transmit again to new price?

If you changed the price and hit transmit again, this error
shouldn't happen and IB will probably eat their
programming mistake.

That really sucks, you should have IB figure out what's causing
the problem so it never happens again. Have them do an
audit trail of your trades in that time period.

Maybe def can help you with this issue.

 

[sprstpd]

Quote from Trader.NET:

Every now and then, you may get two executions while changing an order without hitting the "T" letter. But TWS usually reports as two fills.

Hmmm... maybe IB should fix this? Next time it happens, write all the details you can about what happened and send them to tac@interactivebrokers.com

 

[pspr]

Quote from Trader.NET:

How do we know if an order is still open if TWS does not show so? Many times, TWS rejects orders or we cancel orders and TWS removes them from the order entry grid as we all expect. With this yo-yo login problem, it's hard to notice that an open order is dropped suddenly.

I entered another order to cover my short position and TWS showed me that I was flat after that execution. Had TWS showed it as PINK or other information, I would contact them immediately and take necessary action. The system failed and they need to fix that bug.

You will need to argue those points with IB. I'm sure they will be very reluctant to bust the trade since it will cost them.

You can always take it to arbitration if they won't bust the trade but it costs a couple hundred dollars just to start the ball rolling in addition to your time and possible legal costs.

Best thing to do is state your case as well as you can to IB and start looking for another broker/platform. I'm thinking about changing after year end just because IB won't eat a trade error that is their or the exchanges fault if they can get out of it - not to mention the TWS problems of late.

 

[sprstpd]

Quote from Trader.NET:

How do we know if an order is still open if TWS does not show so? Many times, TWS rejects orders or we cancel orders and TWS removes them from the order entry grid as we all expect. With this yo-yo login problem, it's hard to notice that an open order is dropped suddenly.

I entered another order to cover my short position and TWS showed me that I was flat after that execution. Had TWS showed it as PINK or other information, I would contact them immediately and take necessary action. The system failed and they need to fix that bug.

Yes, something seriously wrong if this is what happened. The TWS should not "lose" orders. You have a good case - I would pursue it til someone caves. Be persistent.

 

[Trader.NET]

Well, I wrote an email requesting management review of my case. I guess I need to look around for new brokers but I hate to do that since I have almost completed a new front-end order entry managment system to the TWS API

Quote from pspr:



You will need to argue those points with IB. I'm sure they will be very reluctant to bust the trade since it will cost them.

You can always take it to arbitration if they won't bust the trade but it costs a couple hundred dollars just to start the ball rolling in addition to your time and possible legal costs.

Best thing to do is state your case as well as you can to IB and start looking for another broker/platform. I'm thinking about changing after year end just because IB won't eat a trade error that is their or the exchanges fault if they can get out of it - not to mention the TWS problems of late.

 

[sprstpd]

Quote from Trader.NET:

Well, I wrote an email requesting management review of my case. I guess I need to look around for new brokers but I hate to do that since I have almost completed a new front-end order entry managment system to the TWS API

Who knows - your new front-end might eliminate this change bug.

 

[Trader.NET]

It will reduce order entry error for sure, but it won't help if the order is gone. Maybe I should keep the order open on my front-end if no confirmation is received and cancellation is entered. However, it would be really confusing to traders since TWS does not show it.

Which program do you trust more, the front-end to the TWS or the actual TWS?

Quote from sprstpd:



Who knows - your new front-end might eliminate this change bug.

 

[sprstpd]

Quote from Trader.NET:

It will reduce order entry error for sure, but it won't help if the order is gone. Maybe I should keep the order open on my front-end if no confirmation is received and cancellation is entered. However, it would be really confusing to traders since TWS does not show it.

What I was trying to say is this change bug could be located only in the TWS manual order entry system. By using your front-end you communicate to the TWS through the API, which might circumvent the bug (i.e., your orders won't ever disappear).

 

[Trader.NET]

Good point. Let's hope API works better. Keep our fingers crossed. Hopefully the new DOM interface will get rid of most keyboard entry and manage all orders visually.

Quote from sprstpd:



What I was trying to say is this change bug could be located only in the TWS manual order entry system. By using your front-end you communicate to the TWS through the API, which might circumvent the bug (i.e., your orders won't ever disappear).

 

[Trader.NET]

That would be fine with me if TWS reprted as such, but TWS didn't show I had the order at the time.

Quote from sprstpd:



So you had your original buy order up and then you started to modify the price but before you hit transmit, the original order got filled (before the price change)? If this is what happened, then IB should eat it. Reaching here, but is it possible you have some weird shortcut mapping that would make this change operation trigger a transmit?