Limit Buy keeps filling at higher than Limit

M

michaelingram

Apologies if this has been clarified already (I couldn't find it):

I've just started using IB - when I place a Limit Buy it constantly fills above the limit specified. As an example, I've just bought 1 share of AMR, using a Limit Buy at 113.64. . . but it filled at 114.64.

Am I missing something here?
 
michaelingram said:
Apologies if this has been clarified already (I couldn't find it):

I've just started using IB - when I place a Limit Buy it constantly fills above the limit specified. As an example, I've just bought 1 share of AMR, using a Limit Buy at 113.64. . . but it filled at 114.64.

Am I missing something here?
More...

i would look at whether there are rules in that market concerning odd lots (orders not placed in multiples of 100), being fillable outside the bid-ask quote. Absent that, there are also different rules for "fast markets".
 
michaelingram said:
Apologies if this has been clarified already (I couldn't find it):

I've just started using IB - when I place a Limit Buy it constantly fills above the limit specified. As an example, I've just bought 1 share of AMR, using a Limit Buy at 113.64. . . but it filled at 114.64.

Am I missing something here?
More...

You did not pay $114.64 for your AMR stock, did you? I doubt it. It just means someone else was willing to pay $114.64 so, got filled ahead of your limit order for $113.64? Stock prices fluctuate and not static, remember that.
 
I don't use IB nor have I ever used their software, but...

Some brokers/platforms have a "chase" feature/setting for limit orders. Sierrachart for instance, has this feature. As stated, IDK about IB or it's warez.
 
tiddlywinks said:
I don't use IB nor have I ever used their software, but...

Some brokers/platforms have a "chase" feature/setting for limit orders. Sierrachart for instance, has this feature. As stated, IDK about IB or it's warez.
More...

what is a chase feature?
 
michaelingram said:
Apologies if this has been clarified already (I couldn't find it):

I've just started using IB - when I place a Limit Buy it constantly fills above the limit specified. As an example, I've just bought 1 share of AMR, using a Limit Buy at 113.64. . . but it filled at 114.64.

Am I missing something here?
More...

What was AMR price when you entered the order?
Were you filled instantly like if you were using a market order?
 
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