Is this stop behavior normal?

[El_Cubano]

Is this stop behavior normal or am I right in thinking its now how its supposed to behave?

The stop is SUPPOSED to trigger once the 'last' traded price goes above your designated price correct?

Lately it seems with IB that my stops are only getting triggered when the BID if I'm short or ASK if I'm long go past my stop price.

As you can see in the image the previous candle wicked above my stop price but my stop didn't trigger because the BID didn't go above it. Only to trigger a few min later once the BID broke the stop level.

I've seen on a regular occurrence where the Last traded price is above my stop, but the bid/ask is straddling my stop order.

Am I an idiot and missing something or is this not how a stop is supposed to behave?

 

[Laissez Faire]

Where and with who do you trade?

I imagine there may be differences from exchange to exchange.

 

[El_Cubano]

Where and with who do you trade?

I imagine there may be differences from exchange to exchange.

Obviously with IB since this is posted in the IB forum and I said IB in my post.

I dont remember the ticker since I took the screen grab last week. But its a well known stock and using IB's smart routing.

 

[Laissez Faire]

Obviously with IB since this is posted in the IB forum and I said IB in my post.

I dont remember the ticker since I took the screen grab last week. But its a well known stock and using IB's smart routing.

Maybe check out trigger methodology then:

https://www.interactivebrokers.com/en/index.php?f=609

 

[El_Cubano]

Maybe check out trigger methodology then:

https://www.interactivebrokers.com/en/index.php?f=609

Trigger method is set to default. And isn't the default with stop orders submitted to exchanges for equities the LAST price?

 

[tiddlywinks]

Trigger method is set to default. And isn't the default with stop orders submitted to exchanges for equities the LAST price?

According to this page, YES, but there are exceptions depending the nativity of the order type and it's parameters defined by the exchange, time, and order modifiers.

https://www.interactivebrokers.com/...nfiguretws/modify_the_stop_trigger_method.htm

Note: I am not now nor have I ever been an IBKR client.

 

[El_Cubano]

According to this page, YES, but there are exceptions depending the nativity of the order type and it's parameters defined by the exchange, time, and order modifiers.

https://www.interactivebrokers.com/...nfiguretws/modify_the_stop_trigger_method.htm

Note: I am not now nor have I ever been an IBKR client.

Thats what I thought...So I still circle back to why is what I posted in my original post happening?

 

[murray t turtle]

Thats what I thought...So I still circle back to why is what I posted in my original post happening?

%%
1] I use 2 different charts, almost always a bit different in price, intraday. [Close price is almost always the same price ]
[2]NOT much liquidity @ tops or bottoms + that's with liquid/very liquid stuff + good volume.
No you're not an idiot, hope this helps.

 

[Scataphagos]

Is this stop behavior normal or am I right in thinking its now how its supposed to behave?

The stop is SUPPOSED to trigger once the 'last' traded price goes above your designated price correct?

Lately it seems with IB that my stops are only getting triggered when the BID if I'm short or ASK if I'm long go past my stop price.

As you can see in the image the previous candle wicked above my stop price but my stop didn't trigger because the BID didn't go above it. Only to trigger a few min later once the BID broke the stop level.

I've seen on a regular occurrence where the Last traded price is above my stop, but the bid/ask is straddling my stop order.

Am I an idiot and missing something or is this not how a stop is supposed to behave?

View attachment 267507

As a general rule, you should be able to count on your trade being filled if/when the market price trades THROUGH your price. (Your price may be hit, but others in time/front will have priority on the fill such that the price moves away from you before your order gets filled in the queue.)

If the market traded through your stop price (not necessarily "stop-limit") and you didn't get filled, perhaps you need to talk to your broker.

 

[vanzandt]

Obviously with IB since this is posted in the IB forum and I said IB in my post.