IB's response to the last trigger changes

[Jerry11]

Quote from Steve_IB:

I do not think that these filters would cause issues.

For example, point 2.
Lets say you have a buy stop at 15,300 and there is a trade at 15,300. we would check that the ask was at 15,300 or higher at that time. By definition it would be - if 15300 was a valid trade.

Now consider point 3, if bid is 15250, ask is 15251. This filter would check that the last price is between 15,173 and 15,328. So again shouldn't be an issue.

 

[178]

I was doing day trad TF, and saw my stop met all 3 conditions, but it was sitting there for a about 10 second before it triggered.

I did not understand why

 

[Alek]

I get the feeling some MMs cut a deal with IB

I get distinct feeling this change wasn't accidental

 

[Alek]

people don't seem to understand basics

most here don't even trade

When the LAST price touches your target but doesn't trigger (which is the case here)

if it did and you were hoping to enter, you would have gotten Better position by few points

Next time the IB LAST touches it and you get a fill, You got screwed on the slippage

WHERE AS THE FIRST TIME YOU WOULDN'T HAVE

like I said, not many real traders on this board I guess

 

[jsmith]

IB should just create an option for someone who wants Last stop order with and without rules 2 and 3.

In fast markets, people will use limit orders past the bid/ask spread which a last stop order would probably trigger slower with rules 2 and 3.

Anyone who chooses not to have rules 2 and 3 will have faster fills but risk bad prints past their stop and that should be their own choice.

 

[Alek]

Quote from Moderator:

You pointed out something that is a matter of trust for us all. I never realized what the problem was because I trusted IB's integrity.

Hmm - let's see when this change occurred, why IB didn't tell us and if they are going to reinstate the old rules.

here is chart proof straight from my IB account

 

[Alek]

Quote from jsmith:

IB should just create an option for someone who wants Last stop order with and without rules 2 and 3.

In fast markets, people will use limit orders past the bid/ask spread which a last stop order would probably trigger slower with rules 2 and 3.

Anyone who chooses not to have rules 2 and 3 will have faster fills but risk bad prints past their stop and that should be their own choice.

yup you are 120% right

 

[joesan]

Quote from jsmith:

IB should just create an option for someone who wants Last stop order with and without rules 2 and 3.

In fast markets, people will use limit orders past the bid/ask spread which a last stop order would probably trigger slower with rules 2 and 3.

Anyone who chooses not to have rules 2 and 3 will have faster fills but risk bad prints past their stop and that should be their own choice.

Second that .

Maybe the filter is good for stock traders, but as a futures trader , I think without rules 2 and 3 is fine . .

IB can let traders choose, and those go with only rule 1 agree that IB shall not be responsible for the risk of bad print.

Technically I do not see much difficulty, as method with only rule 1 was the old method when I began to trade with IB, Method 1 with 2,3 is the current method. Give us options, every one will be happy, why not do it ?