Orderbook priority and GTC orders

B

Benthecat

Hello,

I'm trading ober IB and oftenn using good till canceled orders. GTC orders aren't supported by Globex and the order is sent by IB to the exchange at the opening.

I want to be on the first place in the orderbook and therefore it's important to enter the orders faster than others. What's the best way to enter the order? Is GTC too slow or you better place the order manually at the open?

So if everyone enters at exactly 07:00:00 the smae order who will be first? The one with the fastest connection to the exchange?

Thanks
 
@jeb9999

Thanks for the links. I always thought that IB holds the GTC order on their servers and submits these orders each day. So I was wrong :-(

Thanks
 
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