Interactive Brokers Execution & General Feedback

[d08]

Gotcha, thanks. I suspected that would be the case, although I'm not as sure when it comes to less liquid stocks. Are your stop orders triggering reliably? That's prevented me from testing on IEX - orders routed there wouldn't trigger some fraction of the time and after a lot of back and forth with IB it never got resolved.

Never had an issue except certain REL orders don't go through depending on the offset.
Only way to find out is to run 2 orders side by side - one what you're currently using and one on IEX, splitting the order into 2 equal parts.

why should you get filled on a breakout if the quote is moving away from you?

Do you mean short breakouts? I was replying to OPs post assuming he wants to go long on a breakout in which case getting the bid is highly unlikely.


Reading OPs post second time re tier pricing while being fairly new to trading, bad idea assuming being new means having a relatively small account.
You either need to do enough volume to reach second tier after a few weeks or rely almost exclusively on LMT fills.
For your purpose - tier pricing with breakout STP orders (assuming MKT fills) will cost you a lot more, better stay with bundled.

 

[Lazyj]

Hi d08,

I didnt mean getting filled at the bid on a breakout going long and thats not really what I'm wanting to know on my post. So I'll rephrase that to avoid confusion.

For example, if your going long and set up hotkeys (as ask +0.08 for example) and enter for example 0.01 above the base. Or if you put a stop limit order at .01 above the base with limit +.08.

I do take anticipation entries before that point but mainly curious about IB fills in case I enter right above the breakout. I know its hard to get filled right at it the breakout and I know theres slippage. But I heard from some that IB fills are worse than other brokers or many times they didnt get filled at all compared to other brokers.

My main thing is I want to know if other people that have used IB AND other brokers have experienced worse fills at IB when comparing IB to other brokers on those type of breakout trades and/or in general.

Thanks

Never had an issue except certain REL orders don't go through depending on the offset.
Only way to find out is to run 2 orders side by side - one what you're currently using and one on IEX, splitting the order into 2 equal parts.



Do you mean short breakouts? I was replying to OPs post assuming he wants to go long on a breakout in which case getting the bid is highly unlikely.


Reading OPs post second time re tier pricing while being fairly new to trading, bad idea assuming being new means having a relatively small account.
You either need to do enough volume to reach second tier after a few weeks or rely almost exclusively on LMT fills.
For your purpose - tier pricing with breakout STP orders (assuming MKT fills) will cost you a lot more, better stay with bundled.

 

[NoVoodooHere]

Hi Xandman. Sorry, I thought I put I trade stocks somewhere in there. Thanks for the feedback.

A-ok on the fills and commissions & min tickets (if you'r into that sort of thing), but (Java) TWS will have you pulling your hair out sometimes

 

[Lazyj]

Hi NoVoodooHere,

Thanks for the feedback on the fills and commissions. Can you elaborate on the Java issues. Does it freeze up or something?

A-ok on the fills and commissions & min tickets (if you'r into that sort of thing), but (Java) TWS will have you pulling your hair out sometimes

 

[NoVoodooHere]

Hi NoVoodooHere,

Thanks for the feedback on the fills and commissions. Can you elaborate on the Java issues. Does it freeze up or something?

It "hangs" eg slowdown when you'r trying to put your thang down. No freeze.

But I run a resource hog package on same machine, so maybe it's only happening to me.

 

[Lazyj]

Those head traders I talked about mentioned that it was slow. Doesnt the slowdown effect your fills? For example, if the IB platform slowed down my system and I pushed my hotkey wouldnt that impact my fill negatively because of the delays?

It "hangs" eg slowdown when you'r trying to put your thang down. No freeze.

But I run a resource hog package on same machine, so maybe it's only happening to me.

 

[d08]

I don't see a significant slowdown but since it's Java, it's most likely slower than anything written in C+. It's important to keep TWS and Java updated, otherwise you will have slowdowns.
You can fund your account with the minimum and try it out yourself with paper trading, that's the only way to know for sure.

 

[NoVoodooHere]

I don't see a significant slowdown but since it's Java, it's most likely slower than anything written in C+. It's important to keep TWS and Java updated, otherwise you will have slowdowns.
You can fund your account with the minimum and try it out yourself with paper trading, that's the only way to know for sure.

I updated Java this morning & still the slowness. Every time I go to update TWS I find n absolute mess on IB's website leaving me unclear what is Beta version & what is latest, last time I did it my existing version was 6 mnths ahead of what they claimed was the latest non beta

Is IEX advantage mostly for stop orders or limit orders in your experience, or both?

 

[d08]

Market orders, I haven't traded limit orders on IEX yet but I would be very surprised if they had worse fills than other venues. Their real benefit (the wire) is with market orders because it's not abused before hitting the tape like with everyone else, you don't get better fills than others - you just get fair fills.

 

[NoVoodooHere]

Market orders, I haven't traded limit orders on IEX yet but I would be very surprised if they had worse fills than other venues. Their real benefit (the wire) is with market orders because it's not abused before hitting the tape like with everyone else, you don't get better fills than others - you just get fair fills.

Yeah thx for confirming that. Indeed I tend to use tons of stop market orders and the occasional blatant ars-rape is revolting (most of the time you only get lightly raped). Now if i can just find that setting to default route stock stop orders to IEX... Not a fun task